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Varex Imaging Corporation (Nasdaq: VREX) is the world’s largest independent supplier of medical X-ray tubes and image processing solutions. With a mission to be the leader in imaging components by delivering high-quality products that enable customer success, Varex Imaging serves a variety of industries, from medical imaging to cargo screening and border security.
Core Business: Varex Imaging operates in two main segments: Medical and Industrial. The Medical segment, the key revenue driver, designs, manufactures, sells, and services a range of X-ray imaging components such as X-ray tubes, digital flat panel image detectors, high voltage connectors, ionization chambers, and buckys. The Industrial segment focuses on components like Linatron X-ray accelerators, digital flat panel detectors, and high voltage connectors. These components are integral to X-ray imaging systems used worldwide for diagnosis, detection, and protection.
Recent Achievements and Projects: Varex Imaging has an extensive catalog of innovative and cost-effective X-ray imaging solutions. The company conducts manufacturing, research, and development operations in the United States, Europe, the Philippines, and China, with sales and service operations globally. Varex's commitment to innovation is evident through its continual development of high-voltage connectors, X-ray collimators, ionization chambers, and mammography paddles, among others.
Financial and Partnerships: Varex Imaging has solidified its position in the market through strategic partnerships and a robust financial outlook. The company's products help their customers become world-class system suppliers by harnessing the power of X-ray energy to pioneer advances in various applications.
Overall, Varex Imaging Corporation stands out as a key player in the imaging components industry, driving advancements that benefit both medical and industrial applications.
Varex Imaging Corporation (Nasdaq: VREX) will present at the CJS Securities 23rd Annual New Ideas for the New Year Conference on Wednesday, January 11, 2023, at 3:45 PM ET. The presentation will be given by the Chief Financial Officer, Sam Maheshwari, and will provide an overview of the company’s business. The event will be accessible via a listen-only webcast and will be available for replay for 90 days at vareximaging.com.
Varex Imaging Corporation (NASDAQ: VREX) has announced its 2023 Annual Meeting of Stockholders will take place virtually on February 9, 2023, at 5:30 pm Mountain Time. The board believes this format increases participation, cuts costs, and ensures health safety. Stockholders who were on record by the close of business on December 12, 2022, can vote on meeting matters. Varex will provide essential details and encourages stockholders to vote and submit proxies in advance.
Varex Imaging Corporation (Nasdaq: VREX) reported record Q4 FY22 revenues of $231 million, with a GAAP gross margin of 32% and a non-GAAP operating margin of 13%. For FY22, total revenues reached $859 million, marking a 10% operating margin. Q4 earnings were $0.32 GAAP and $0.42 non-GAAP per diluted share. Despite supply chain challenges, the company saw an 8% sequential revenue increase driven by growth in Medical and Industrial segments. For Q1 FY23, Varex expects revenues between $195 million and $215 million.
Varex Imaging Corporation (Nasdaq: VREX) announced it will release unaudited financial results for Q4 and fiscal year 2022 after market close on November 15, 2022. A conference call will follow at 3:00 pm MT, available via webcast on the company's website. Varex specializes in X-ray imaging components, including tubes and digital detectors, utilized in medical and security sectors. With over 2,100 employees globally, Varex continues its 70+ year history of innovation in the imaging industry.
Varex Imaging Corporation (Nasdaq: VREX) has appointed Kathleen L. Bardwell to its Board of Directors, effective July 29, 2022. Bardwell, with over 35 years of experience in regulatory affairs and compliance, previously served as Senior Vice President at STERIS Corporation. Her extensive background in quality and regulatory matters is expected to enhance Varex's governance. The board has increased its size from seven to eight members. Bardwell has also held various key roles in other financial institutions and is affiliated with professional organizations such as NACD and AICPA.
Varex Imaging Corporation (Nasdaq: VREX) reported its unaudited financial results for Q3 FY22, with revenues of $214 million, reflecting a 2% increase year-over-year. The GAAP net earnings were $0.20 per diluted share, and non-GAAP net earnings were $0.37 per diluted share. While revenues remained flat sequentially, the Industrial segment saw a 7% increase. However, cash flow from operations was a use of $3 million, reflecting ongoing investments in inventory. Looking ahead, Q4 FY22 guidance suggests revenues between $210 million and $240 million.
Varex Imaging Corporation (Nasdaq: VREX) will report its unaudited financial results for the third quarter of fiscal year 2022 on August 2, 2022, after market close. A conference call is scheduled for 3:00 PM Mountain Time on the same day, accessible via webcast and phone. Varex specializes in X-ray imaging components and employs approximately 2,100 individuals globally. The company continues to innovate in medical and industrial imaging sectors, showcasing over 70 years of expertise in designing critical X-ray systems.
Varex Imaging Corporation (Nasdaq: VREX) reported its unaudited financial results for Q2 FY22, achieving revenues of $215 million, an 8% sequential increase. The GAAP gross margin was 33%, while the non-GAAP gross margin stood at 34%. Non-GAAP net earnings per diluted share improved to $0.37 from $0.25 in the prior quarter. Despite ongoing supply chain constraints, strong demand persists. However, operational cash flow decreased by $8 million, and cash and cash equivalents fell to $115 million following a $27 million redemption of Senior Secured Notes.
Varex Imaging Corporation (Nasdaq: VREX) will report its unaudited financial results for Q2 FY2022 on May 3, 2022, after market close. The earnings release will be followed by a conference call at 3:00 PM MT, accessible via their website or through call-in options. A replay will be available from May 3rd to May 17th. Varex specializes in X-ray imaging components and has over 70 years of experience in the industry, providing critical systems for medical, industrial, and security applications.
Varex Imaging Corporation (Nasdaq: VREX) will present at Oppenheimer's 32nd Annual Healthcare Conference on March 15, 2022, at 2:40 pm ET. The presentation will be available via webcast, accessible through Varex's website. CFO Sam Maheshwari will discuss the company’s business overview during the event.
Varex specializes in X-ray imaging components for medical and industrial applications, boasting over 70 years of innovation. The company is headquartered in Salt Lake City, employing around 2,100 people globally.
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