Varex Q4 FY2023 rev $227M; Medical down 10% YoY, Industrial up 27%; guides Q1 FY2024 rev $180-$200M

Varex Imaging Corp

2023-FY EPS reported $1.08 revenue$893,400,000

Q4 revenue $227M, down 2% YoY and 2% sequentially; full-year record revenue $893M.
GAAP EPS $0.66 per diluted share; non-GAAP EPS $0.45 per diluted share.
Medical segment revenue down 10% YoY (China anti-corruption headwind); Industrial up 27% YoY.
Cash from operations $47M in Q4; cash & marketable securities $195M at year-end.
Q1 FY2024 guidance: revenue $180-$200M, non-GAAP EPS $0.00-$0.20.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Varex Imaging Corp reported for the twelve months ended September 29, 2023 (FY23) results: revenue $893 million, EPS $1.08 per diluted share (GAAP); $1.27 per diluted share (Non-GAAP).

Period: for the twelve months ended September 29, 2023 (FY23)
Revenue: $893 million
EPS: $1.08 per diluted share (GAAP); $1.27 per diluted share (Non-GAAP)
Result: reported results

Exact text from the filing

FY23 Summary • Record revenues of $893 million • GAAP gross margin 32% | Non-GAAP gross margin* 33% • GAAP operating expense $213 million | Non-GAAP operating expense* $199 million • GAAP operating margin 9% | Non-GAAP operating margin* 11% • GAAP net income $1.08 per diluted share | Non-GAAP net income* $1.27 per diluted share • Cash flow from operations $108 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Varex Imaging Corp reported for the first quarter of fiscal year 2024 results: revenue $180 million to $200 million, EPS $0.00 to $0.20 per diluted share (Non-GAAP). Guidance initiated.

Period: for the first quarter of fiscal year 2024
Revenue: $180 million to $200 million
EPS: $0.00 to $0.20 per diluted share (Non-GAAP)
Guidance: initiated
Result: guidance update

Exact text from the filing

Outlook The following guidance is provided for the first quarter of fiscal year 2024: • Revenues are expected to be between $180 million and $200 million • Non-GAAP net income per diluted share is expected to be between $0.00 and $0.20

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Varex Imaging Corp reported for the three months ended September 29, 2023 (Q4 FY23) results: revenue $227 million, EPS $0.66 per diluted share (GAAP); $0.45 per diluted share (Non-GAAP).

Period: for the three months ended September 29, 2023 (Q4 FY23)
Revenue: $227 million
EPS: $0.66 per diluted share (GAAP); $0.45 per diluted share (Non-GAAP)
Result: reported results

Exact text from the filing

Q4 FY23 Summary • Revenues of $227 million • GAAP gross margin 34% | Non-GAAP gross margin* 36% • GAAP operating expense $54 million | Non-GAAP operating expense* $51 million • GAAP operating margin 11% | Non-GAAP operating margin* 13% • GAAP net income $0.66 per diluted share | Non-GAAP net income* $0.45 per diluted share • Cash flow from operations $47 million

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Source: SEC EDGAR

accession 0001681622-23-000069

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