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 ...

☐ 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 ____________________________________________________________ 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________ FORM 10-K ____________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 29, 2023 ____________________________________________________________ VAREX IMAGING CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...

1 YAREX Making the Invisible Visible Q4 FY23 Earnings Presentation November 14, 2023 Forward Looking Statements / Non-GAAP Measures Forward Looking Statements Certain statements in this supplement contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements include statements concerning unaudited financial results; Q4 FY23 revenue and earnings guidance; industry or market outlook; addre ...

Financial Data and Key Metrics Changes - Revenue for Q4 2023 was $227 million, a decrease of 2% both sequentially and year-over-year [9][32] - Non-GAAP gross margin was 36%, exceeding expectations and up 200 basis points from the previous quarter [9][37] - Non-GAAP earnings per share (EPS) was $0.45, also above expectations [8][32] - Adjusted EBITDA for the quarter was $38 million, with an adjusted EBITDA margin of 17% [47] Business Line Data and Key Metrics Changes - Medical segment revenue decreased 7% sequentially and 10% year-over-year, totaling $164 million [9][33] - Industrial segment revenue increased 12% sequentially and 27% year-over-year, reaching a record $64 million [9][33] - The Medical segment accounted for approximately 72% of total revenues, while the Industrial segment accounted for 28% [33] Market Data and Key Metrics Changes - Revenue from the Americas and EMEA increased by 1% sequentially, while APAC declined by 8%, primarily due to lower sales in China [34][68] - Sales to China totaled $147 million for fiscal 2023, up 5% year-over-year, but expected to decline in fiscal 2024 due to anti-corruption measures [34][35] Company Strategy and Development Direction - The company plans to invest in integrated solutions and expand its Industrial segment, targeting nearly $1 billion in addressable market within five years through new irradiation systems [20][24] - Continued focus on photon counting technology, which is gaining traction in both industrial and medical applications [26][27] - The company aims to leverage local manufacturing in India to enhance its market presence and reduce costs [27][85] Management's Comments on Operating Environment and Future Outlook - Management expects a temporary decline in sales in China due to anti-corruption measures but anticipates recovery in the second half of fiscal 2024 [35][59] - The company remains optimistic about long-term growth in China, citing government commitment to healthcare expansion [59] - Fiscal 2024 is expected to see revenues down approximately 3% to 5% compared to fiscal 2023, with continued improvement in gross margins [49][50] Other Important Information - The company ended Q4 2023 with $195 million in cash, cash equivalents, and marketable securities, an increase of $42 million from the previous quarter [10][45] - R&D spending in Q4 was $22 million, representing 10% of revenues, reflecting increased investment in industrial systems and supplier diversification [38] Q&A Session Summary Question: What was the revenue from China in Q4 2023 compared to a year ago? - Revenue in Q4 2023 from China was $31 million, down from $37 million in Q4 2022 [53] Question: What is the impact of the anti-corruption measures on sales? - The decline in sales is primarily related to anti-corruption measures, compounded by a soft economy in China [54] Question: What is the outlook for the industrial business? - The industrial segment had a strong quarter, and while a softer first quarter is expected, growth is anticipated for the full fiscal year [57] Question: How does the company plan to allocate capital? - The priority is to fund operations, followed by deleveraging, with potential for inorganic growth later [61] Question: What is the strategy for manufacturing in India? - India will serve as a local for global manufacturing hub, with plans for full capability operations [77][85]