Varex Q1 FY2022 revenue $199M below expectations; non-GAAP EPS $0.25; guides Q2 revenue $190-220M

Varex Imaging Corp

2022-Q1 EPS reported $0.03 revenue$198,800,000

Revenue $199M (+12% YoY, -12% sequential); GAAP EPS $0.03; non-GAAP EPS $0.25.
Medical segment revenue +12% YoY; Industrial +14% YoY; supply chain constraints limited order fulfillment.
Cash and equivalents $158M (+$13M QoQ); operating cash flow $11M.
Q2 FY2022 guidance: revenue $190-220M; non-GAAP EPS $0.15-$0.40.
Gross margin: GAAP 33%, non-GAAP 34%; operating expense control drove profitability.

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