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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) is set to present at the Jefferies Virtual Healthcare Conference on June 2, 2021, at 9:30 am ET. The company's CFO, Sam Maheshwari, will discuss Varex’s business and future prospects during the presentation. This event will be available via webcast, with replays accessible for 90 days on the company's website, vareximaging.com. Varex, headquartered in Salt Lake City, Utah, specializes in X-ray imaging components used in medical and industrial applications, boasting over 70 years of innovation.
Varex Imaging Corporation (Nasdaq: VREX) reported strong financial performance for 2QFY21, with revenues of $204 million, a 15% sequential increase, and a 3% year-over-year rise. The company achieved a GAAP gross margin of 32% and a non-GAAP gross margin of 35%. Net earnings were $0.08 per diluted share for GAAP and $0.35 for non-GAAP. Positive drivers included robust global sales of CT tubes and industrial digital detectors. Cash flow from operations reached $13 million, and cash and equivalents stood at $111 million by quarter end.
Varex Imaging Corporation (Nasdaq: VREX) will report its unaudited financial results for Q2 of fiscal year 2021 on May 4, 2021, after market close. A conference call is scheduled for the same day at 3:00 p.m. Mountain Time, accessible through the company's website or via phone. Varex specializes in X-ray imaging components and has over 70 years of innovation, providing solutions for medical, industrial, and security imaging applications. The company employs around 2,000 people globally, reflecting its strong presence in the imaging sector.
Varex Imaging Corporation (Nasdaq: VREX) will present at the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021, at 1:10 pm ET. The company’s CFO, Sam Maheshwari, will discuss Varex’s business and future prospects. The presentation will be webcast and accessible on the company’s website, with replays available for 90 days. Varex specializes in designing and manufacturing X-ray imaging components, playing a crucial role in medical and industrial applications, with over 2,000 employees worldwide.
Varex Imaging Corporation (Nasdaq: VREX) reported its 1QFY21 financial results, showing revenues of $177 million, a 4% increase sequentially from 4QFY20. The company achieved a GAAP gross margin of 32% and a non-GAAP gross margin of 34%, reflecting a 580 basis points improvement due to cost reductions and a favorable product mix. GAAP net earnings were $(0.16) per diluted share, while non-GAAP earnings were $0.08. The outlook for 2QFY21 estimates revenues between $180 million and $200 million and non-GAAP earnings per diluted share between $0.05 and $0.25.
Varex Imaging Corporation (Nasdaq: VREX) will release its unaudited financial results for Q1 FY2021 on February 4, 2021, after market close. A conference call is scheduled for 3:00 PM MT the same day, available via webcast on the company’s investor site and through designated phone numbers. The replay will be accessible until February 18, 2021. Varex Imaging specializes in X-ray imaging components, with over 70 years of innovation in medical, industrial, and security applications, employing about 2,000 staff globally.
Varex Imaging Corporation (Nasdaq: VREX) will present at two virtual investor conferences in January 2021. The first is at the CJS Securities 21st Annual New Ideas for the New Year Conference on January 13, 2021, at 1:35 pm ET. The second presentation is at the Sidoti Winter 2021 Investor Conference on January 14, 2021, at 11:30 am ET. CFO Sam Maheshwari will discuss Varex's business and future prospects. Webcast links are available for both events, and replays will be accessible for 90 days on the company's website.
Varex Imaging Corporation (Nasdaq: VREX) announced its 2021 Annual Meeting of Stockholders will be held virtually on February 11, 2021, at 2:00 PM Mountain Time due to COVID-19 restrictions. Stockholders of record as of December 18, 2020, are eligible to vote on meeting matters. Varex will provide necessary information on attending the virtual meeting and encourages stockholders to vote and submit proxies in advance. Varex is a leader in X-ray imaging components, supplying products for medical, industrial, and security applications, employing approximately 2,000 people globally.
Varex Imaging Corporation (Nasdaq: VREX) will present its advanced X-ray technologies at the RSNA 2020, taking place virtually from November 29 to December 5, 2020. Key highlights include intro of nanotube-based X-ray tubes and Liquid Metal Bearing (LMB) X-ray tubes, enhancing efficiency and lifespan. Additionally, Varex will showcase photon counting digital detectors and the Z Platform digital detector, promising improved imaging capabilities. A virtual booth featuring 3D models and product videos will also be launched to engage participants.
Varex Imaging Corporation (Nasdaq: VREX) reported its unaudited financial results for Q4 and fiscal year 2020. Q4 revenues reached $170 million, with a GAAP gross margin of 27% and a net loss of $0.66 per diluted share. For the full year, revenues totaled $738 million, with a GAAP gross margin of 26% and a net loss of $1.47 per diluted share. Despite a decline in sales for some products, Varex noted improved margins due to cost reduction actions. The company expects Q1 FY2021 revenue guidance between $160 million and $180 million.
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