Varex Imaging Corporation ( (VREX) ) has released its Q3 earnings. Here is a breakdown of the information Varex Imaging Corporation presented to its investors.
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Varex Imaging Corporation is a prominent manufacturer of X-ray imaging components, serving the medical, industrial, and security sectors with innovative solutions. Headquartered in Salt Lake City, Utah, the company has a global presence with approximately 2,300 employees across North America, Europe, and Asia.
In its third-quarter fiscal year 2025 earnings report, Varex Imaging Corporation announced revenues of $203 million, surpassing its guidance expectations. Despite a year-over-year revenue decline, the company reported strong performance in its industrial segment and better-than-expected medical revenue in China.
Key financial highlights include a non-GAAP gross margin of 34%, an increase from the previous year’s 32%, and non-GAAP earnings per share rising to $0.18 from $0.14. The company also reported a GAAP net loss of $2.15 per diluted share, attributed to a significant goodwill impairment charge. Cash flow from operations was $8 million, with cash and equivalents totaling $153 million at the quarter’s end.
Looking ahead, Varex anticipates a healthy demand environment, projecting a 3% sales growth for fiscal year 2025. The company expects fourth-quarter revenues to range between $210 million and $230 million, with non-GAAP net earnings per diluted share forecasted between $0.10 and $0.30.
Varex Imaging Corporation remains optimistic about its future prospects, driven by continued adoption of its systems in various applications and a robust demand outlook in both its medical and industrial segments.