Varex Q1 FY2024 revenue $190M (-8% YoY), GAAP loss $0.01/sh, non-GAAP EPS $0.06

Varex Imaging Corp

2024-Q1 EPS reported -$0.01 revenue$190,000,000

Revenue $190M, down 8% YoY; Medical segment $140M (-13%), Industrial $50M (+10%).
GAAP net loss $0.01/diluted share; Non-GAAP EPS $0.06 vs $0.21 in prior year.
Non-GAAP gross margin 31% (vs 32% YoY); operating margins declined.
Cash from operations $10M; cash & equivalents $195M, flat vs FY2023 year-end.
Q2 FY2024 guidance: revenue $195-215M, non-GAAP EPS $0.10-$0.30.

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 three months ended December 29, 2023 results: revenue $190 million.

Period: three months ended December 29, 2023
Revenue: $190 million
Result: preliminary results

Exact text from the filing

February 6, 2024 – Varex Imaging Corporation (Nasdaq: VREX) today announced its unaudited financial results for the first quarter of fiscal year 2024. 1QFY24 Summary • Revenues $190 million • GAAP gross margin 30% | Non-GAAP gross margin* 31% • GAAP operating margin 2% | Non-GAAP operating margin* 5% • GAAP net loss $0.01 per diluted share | Non-GAAP net earnings*

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Varex Imaging Corp reported first quarter of fiscal year 2024 results: revenue $190 million.

Period: first quarter of fiscal year 2024
Revenue: $190 million
Result: preliminary results

Exact text from the filing

Revenue of $190 million in the first quarter of fiscal 2024, was at the mid-point of our guidance, however unfavorable mix in both the Medical and Industrial segments impacted profitability.

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Source: SEC EDGAR

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