Welcome to our dedicated page for Varex Imaging Corporation news (Ticker: VREX), a resource for investors and traders seeking the latest updates and insights on Varex Imaging Corporation stock.
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) announced a partial redemption of $27 million in its 7.875% senior secured notes due 2027, totaling 10% of the outstanding principal. The redemption price is set at 103% of the principal plus accrued interest, reducing the remaining principal to $243 million. This strategic move is expected to lower ongoing cash interest expenses by $2.1 million, as stated by CFO Sam Maheshwari. Varex continues to focus on cash generation to manage its debt effectively.
Varex Imaging Corporation (Nasdaq: VREX) reported unaudited financial results for 1QFY22, showing revenues of $199 million, down 12% sequentially but up 12% year-over-year. The GAAP gross margin was 33%, with non-GAAP operating margin at 11%. However, supply chain constraints impacted revenue fulfillment, leading to lower-than-expected results. Non-GAAP EPS stood at $0.25, while cash and cash equivalents rose to $158 million. For 2QFY22, revenue guidance is projected between $190 million and $220 million.
Varex Imaging Corporation (NASDAQ: VREX) will announce its unaudited financial results for Q1 FY 2022 on February 8, 2022, after market close. A conference call will follow at 3:00 PM MT, accessible via phone or live webcast on the company’s website. The replay will be available from February 8 until February 22. Varex is recognized for its innovation and manufacturing of X-ray imaging components used in various applications, employing approximately 2,100 people globally.
Varex Imaging Corporation (Nasdaq: VREX) will hold its 2022 Annual Meeting of Stockholders virtually on
Varex Imaging Corporation (Nasdaq: VREX) reported its unaudited financial results for Q4 FY21, achieving revenues of $226 million, a 7% sequential increase. The company indicated a strong cash flow of $51 million from operations and improved cash and cash equivalents to $145 million. The non-GAAP net earnings per diluted share were $0.45. For FY21, total revenues reached $818 million with non-GAAP net earnings at $1.31 per diluted share. Guidance for Q1 FY22 anticipates revenues between $200 million and $220 million.
Varex Imaging Corporation (Nasdaq: VREX) will announce its unaudited financial results for Q4 and full fiscal year 2021 on November 16, 2021, after market close. Following the earnings release, a conference call will take place at 3:00 PM Mountain Time, which will be available via webcast on their website. Investors can also access the call through specific phone numbers. A replay will be offered until November 30. Varex specializes in X-ray imaging components for medical, industrial, and security applications, supported by over 70 years of innovation.
Varex Imaging Corporation (Nasdaq: VREX) reported strong financial results for the third quarter of fiscal year 2021, with revenues of $211 million, reflecting a 4% sequential increase and a 23% year-over-year rise, propelled by demand in Medical and Industrial segments. The non-GAAP gross margin improved to 36%, while GAAP operating margin reached 12%. The company generated $22 million in cash flow from operations and strengthened its balance sheet by increasing cash equivalents to $128 million. For the fourth quarter, Varex anticipates revenues between $205 million and $225 million and non-GAAP earnings per share of $0.25 to $0.40.
Varex Imaging Corporation (Nasdaq: VREX) will release its unaudited financial results for Q3 FY2021 after market close on August 3, 2021. This will be followed by a conference call at 3:00 PM Mountain Time, which will be accessible via the company's website or through designated phone numbers for U.S. and non-U.S. callers. The call will be archived online, with a replay available from August 3rd to August 17th.
Varex specializes in X-ray imaging components, serving medical, industrial, and security sectors, with a workforce of approximately 2,000 globally.
Varex Imaging Corporation (Nasdaq: VREX) has launched the LUMEN 4336W digital radiography detector, enhancing its product line with features prioritizing durability and convenience. This new detector features a robust design with an IP68 rating, ensuring water resistance for real-world applications. It emphasizes reliability through a simplified internal structure and incorporates wireless charging capabilities. Varex continues to guarantee high image quality, leveraging its expertise in X-ray imaging technology.
Varex Imaging Corporation (Nasdaq: VREX) announced a partial redemption of $30 million from its $300 million 7.875% senior secured notes due 2027, effective July 15, 2021. The redemption price is set at 103% of the principal amount plus accrued interest since April 15, 2021. CFO Sam Maheshwari highlighted that improved financial performance is enabling debt reduction and decreased interest expenses, indicating a positive cash generation trend for the company.
FAQ
What is the current stock price of Varex Imaging Corporation (VREX)?
What is the market cap of Varex Imaging Corporation (VREX)?
What does Varex Imaging Corporation do?
What are the main segments of Varex Imaging’s business?
Where are Varex Imaging’s operations located?
What products does Varex Imaging manufacture?
What industries use Varex Imaging’s products?
How does Varex Imaging contribute to innovation?
What is the mission of Varex Imaging Corporation?
Which segment is the key revenue driver for Varex Imaging?
Who are the customers of Varex Imaging?
What are some recent achievements of Varex Imaging?
