VAREX IMAGING (VREX) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 75%. A quarter ago, it was expected that this company would post earnings of $0.10 per share when it actually produced earnings of $0.19, delivering a surprise of 90%.Over the last four quarters, the company has surp ...

Making the Invisible Visible Q1 FY25 Earnings Presentation February 6, 2025 2/6/2025 1 Forward Looking Statements / Non-GAAP Measures Forward Looking Statements This supplement contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning financial results; earnings guidance; product demand; expected future financial results or performance; supply chain and logistics challenges; cost increases and expense management; changes in U.S. a ...

Revenue Performance - Total revenues for the three months ended January 3, 2025, were $199.8 million, an increase of $9.8 million or 5.2% compared to $190.0 million for the three months ended December 29, 2023[155]. - Medical segment revenues increased by $4.7 million to $144.6 million, primarily driven by higher sales of CT and fluoroscopy products, while sales in radiographic, dental, oncology, and mammography decreased[155]. - Industrial segment revenues rose by $5.1 million to $55.2 million, reflecting a growth of 10.2% compared to the previous period[155]. - Medical segment accounted for 72.4% of total revenues, while the Industrial segment represented 27.6%[155]. Gross Profit and Expenses - Total gross profit for the three months ended January 3, 2025, was $68.5 million, a 20.0% increase from $57.1 million for the same period in 2023[157]. - Medical segment gross profit rose to $49.5 million, reflecting a 27.2% increase, primarily due to increased sales volume and favorable product mix[157]. - Research and development expenses increased to $23.5 million, representing 11.8% of total revenues, up from 10.8% in the previous year[159][160]. - Operating expenses totaled $57.3 million, an 8.3% increase from $52.9 million, with selling, general, and administrative expenses rising by $1.4 million[159][161]. Debt and Cash Flow - As of January 3, 2025, total debt outstanding was $567.0 million, an increase from $443.4 million as of September 27, 2024[168]. - Cash and cash equivalents increased to $176.0 million, up from $168.7 million, reflecting a $7.3 million increase[167]. - Net cash provided by financing activities was $124.9 million for the three months ended January 3, 2025, compared to $(1.7) million in the prior year[171]. Market and Economic Conditions - The uncertain economic environment, including supply chain challenges and geopolitical tensions, may impact future financial performance[140]. - The company has experienced supply chain disruptions but has seen improvements, although material shortages and delivery delays may still pose challenges[141]. - A significant portion of the company's customers are outside the United States, leading to potential pricing pressure due to a strong U.S. Dollar, which may result in discounted prices or delayed purchasing decisions[182]. Risk Management - The company may enter into foreign currency forward and option contracts to hedge against foreign exchange risks, typically for one to three months[183]. - The company performs ongoing credit evaluations of customers and maintains strong credit controls, including letters of credit and down payments[185]. - As of January 3, 2025, the company had no borrowings subject to floating interest rates, reducing interest rate risk exposure[186]. - The company is exposed to market risks related to volatility in raw material prices, which can affect product margins and profitability[189]. Backlog and Installed Base - The estimated total backlog was approximately $307 million as of January 3, 2025, representing orders for which revenues have not yet been recognized[178]. - The installed base includes over 160,000 X-ray tubes and 170,000 X-ray detectors, with a significant portion of revenue coming from replacement and service of existing components[146]. Research and Development - The company employs approximately 400 individuals in research and development to drive innovation in X-ray imaging products[139]. - The company is developing CT X-ray tubes for Chinese OEMs, anticipating increased opportunities due to a new stimulus program in the healthcare industry introduced in March 2024[147]. Interest and Commodity Price Impact - Interest and other expense, net, increased to $(8.7) million, compared to $(4.8) million in the prior year, primarily due to higher interest expenses[162]. - A hypothetical 10% decrease in foreign exchange rates could result in an estimated annual earnings impact of $13.5 million[191]. - A 100 basis point decrease in interest rates of marketable securities could lead to an estimated annual earnings impact of $2.9 million[191]. - A 10% increase in commodity prices could result in an estimated annual earnings impact of $3.2 million[191].

Varex's revenue of $200 million was up 5% year-over-year. Medical segment revenue of $145 million was up 3% year-over-year. Industrial segment revenue of $55 million was up 10% year-over-year. Non-GAAP gross margin was 35% in the quarter compared to 31% in the first quarter of fiscal year 2024 and non- GAAP EPS increased to $0.07 in the quarter from $0.06 in the first quarter of fiscal year 2024. Balance Sheet & Cash Flow Exhibit 99.1 VAREX ANNOUNCES FINANCIAL RESULTS FOR FIRST QUARTER FISCAL YEAR 2025 SALT ...

Financial Performance - Q4 FY24 revenues were $206 million, a 10% decrease year-over-year, with medical segment revenue at $144 million (down 12%) and industrial revenue at $61 million (down 4%) [4] - GAAP net earnings for Q4 FY24 were $(1.22) per diluted share, while non-GAAP net earnings were $0.19 per diluted share, down from $0.45 in Q4 FY23 [4] - For FY24, total revenues were $811 million, with a GAAP gross margin of 32% and a non-GAAP gross margin of 32% [4] - Revenues for the three months ended September 27, 2024, were $205.7 million, a decrease from $227.4 million in the same period last year, representing a decline of approximately 9.4% [21] - Gross profit for the same period was $67.1 million, down from $78.0 million year-over-year, resulting in a gross margin of 32.6%, compared to 34.3% in the prior year [21] - Non-GAAP operating income decreased to $14.5 million for the three months ended September 27, 2024, from $29.6 million in the same period last year, reflecting a non-GAAP operating margin of 7.0% [23] - The net loss attributable to Varex for the three months ended September 27, 2024, was $50.0 million, compared to a net income of $31.9 million in the prior year [25] - Non-GAAP diluted net loss per share was $0.19 for the three months ended September 27, 2024, down from $0.45 in the same period last year [25] Cash Flow and Assets - Cash flow from operations for Q4 FY24 was $26 million, ending the fiscal year with $213 million in cash and marketable securities [5] - Total assets as of September 27, 2024, were $1,217 million, down from $1,249.6 million as of September 29, 2023 [18] - Total liabilities were $667.8 million as of September 27, 2024, compared to $668.6 million the previous year [18] - Retained earnings decreased to $70.4 million as of September 27, 2024, down from $118.1 million the previous year [18] Operating Expenses and Margins - The company reported a GAAP operating margin of 5% for Q4 FY24 and a non-GAAP operating margin of 7% [4] - Total operating expenses for the three months ended September 27, 2024, were $56.2 million, compared to $53.7 million in the same period last year, indicating an increase of approximately 4.6% [23] - The company reported a significant increase in other non-operational costs, which rose to $2.5 million for the three months ended September 27, 2024, compared to $0.8 million in the prior year [23] Future Outlook - The company expects Q1 FY25 revenues to be between $195 million and $215 million, with non-GAAP net earnings per diluted share projected between -$0.05 and $0.10 [6] Technological Advancements - Significant technological advancements were made in FY24, particularly in photon counting and nanotubes, with initial steps taken to expand into the cargo systems vertical [5] Tax and Restructuring - The effective tax rate on non-GAAP adjustments was 1,545.7% for the three months ended September 27, 2024, compared to (149.3)% in the same period last year [25] - The company incurred restructuring charges of $0.1 million for the three months ended September 27, 2024, compared to $1.0 million in the same period last year [23]

Varex Imaging Corporation (NASDAQ:VREX) Q2 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Chris Belfiore – Director of Investor Relations Sunny Sanyal – President and Chief Executive Officer Sam Maheshwari – Chief Financial Officer Conference Call Participants Shaymus Contorno – Oppenheimer Young Li – Jefferies James Sidoti – Sidoti & Company Larry Solow – CJS Operator Greetings and welcome to the Varex Imaging Second Quarter Full Year 2024 Earnings Call. At this time all particip ...

1 YAREX Making the Invisible Visible Q1 FY24 Earnings Presentation February 6, 2024 Forward Looking Statements / Non-GAAP Measures Forward Looking Statements This supplement contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning revenue and earnings guidance; supply chain and logistics challenges; cost increases and expense management; changes in U.S. and worldwide economic conditions, such as the impact of inflation, and fluct ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________ FORM 10-Q ____________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 29, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37860 ___________ ...

Exhibit 99.1 Balance Sheet & Cash Flow Cash flow from operations was $3 million in the second quarter of fiscal year 2024. Cash, cash equivalents, marketable securities, and CDs was $190 million at the end of the second quarter of fiscal year 2024 compared to $195 million at the end of fiscal year 2023. Outlook The following guidance is provided for the third quarter of fiscal year 2024: Guidance for the company's net earnings per diluted share is provided on a non-GAAP basis only. This non-GAAP financial m ...

Varex Imaging Corporation (NASDAQ:VREX) Q1 2024 Earnings Conference Call February 6, 2024 5:00 PM ET Company Participants Christopher Belfiore - Director, Investor Relations Sunny Sanyal - President and Chief Executive Officer Shubham Maheshwari - Chief Financial Officer Conference Call Participants James Sidoti - Sidoti & Company Anthony Petrone - Mizuho Group Shaymus Contorno - Oppenheimer Lawrence Solow - CJS Michael Toomey - Jefferies Operator Greetings, and welcome to the Varex Q1 2024 Earnings Call. A ...