Highest-materiality recent filing
Teledyne to acquire Varex Imaging for $18.90/share in cash
Deal: $18.90/share cash; expected close early 2027, subject to stockholder and regulatory approvals (HSR, foreign).
Varex Q3 FY26 revenue $211M, up 4% YoY; non-GAAP EPS $0.31 vs $0.13
Revenue $211M, up 4% YoY; Medical $134M, Industrial $77M; non-GAAP EPS $0.31 vs $0.13 prior year.
Revenue $216M (+1% YoY); Medical $156M, Industrial $60M.
Varex closes $490M credit facility, redeems $368M 7.875% notes due 2027
New facility includes $350M term loan, $100M revolver, $40M delayed draw; matures March 13, 2031.
Varex Imaging shareholders elect all seven director nominees at 2026 annual meeting
All seven director nominees elected with >34M votes for each; broker non-votes ~3.4M.
Varex Q1 revenue $210M (+5% YoY), Non-GAAP EPS $0.19, guides Q2 rev $210-225M
GAAP net income $0.05 per diluted share; Non-GAAP EPS $0.19 (up from $0.10 YoY).
Varex Q4 revenue $229M (+11% YoY); Non-GAAP EPS $0.37; guides Q1 $200-215M
Q4 FY25 revenue $229M, up 11% YoY; Medical segment $152M (+5%), Industrial $77M (+25%).
Varex SVP & CLO Kimberley Honeysett to transition; advisory role through Dec 2027
Kimberley Honeysett steps down as CLO effective Oct 3, 2025, then remains as non-executive employee/advisor until Dec 12, 2027.
Varex Q3 revenue $203M beats guidance; GAAP loss $(2.15), non-GAAP profit $0.18
Revenue of $203M down 3% YoY but above high-end guidance; Industrial segment up 1% to $61M, Medical down 4% to $142M.
Varex Q2 revenue $213M (+3% YoY); China tariff pause cuts Q3 outlook to $180-200M
GAAP EPS $0.17, Non-GAAP EPS $0.26 vs $0.16 prior year.
China MOFCOM launches anti-dumping probe on CT X-ray tubes; Varex could be impacted
China MOFCOM announced anti-dumping investigation into medical CT X-ray tubes from US and India.
Varex stockholders approve officer exculpation amendment; re-elect all directors
All seven director nominees elected with 34.2M to 35.0M votes for; brokers non-voted 2.6M shares.
Varex Q1 FY2025 revenue up 5% YoY to $200M; GAAP net loss $0.01/sh, Non-GAAP EPS $0.07
Medical segment revenue $145M (+3% YoY); Industrial segment revenue $55M (+10% YoY).
Varex terminates $20M equipment credit facility after senior secured notes offering
Equipment Credit Agreement with Zions terminated effective Dec 20, 2024, confirmed Jan 3, 2025.
Varex closes $125M 7.875% senior secured notes due 2027 for convertible note repayment
$125M aggregate principal at 101.5% of par, 7.875% coupon, maturing 2027.
Varex prices $125M add'l 7.875% senior secured notes due 2027 to repay convertible notes
$125M aggregate principal of 7.875% senior secured notes due Oct 2027 priced at 101.5% of par.
Varex Q4 FY24 revenue $206M; GAAP EPS loss $1.22, non-GAAP EPS $0.19
GAAP net loss of $1.22 per diluted share; non-GAAP EPS of $0.19, down from $0.45 YoY.
Varex amends credit agreement to relax covenants on convertible note payments and leverage
Amendment dated Sept 11, 2024 with Zions Bancorporation modifies Payment Conditions to allow restricted payments up to greater of 50% of CNI or $50M when leverage >2.50x.
Varex Q3 FY2024 revenue down 10% YoY; Q4 guidance weak
Revenue $209M (-10% YoY); GAAP EPS $0.03, Non-GAAP EPS $0.14 vs $0.37 YoY.
Varex Q2 revenue $206M, down 10% YoY; lowers H2 outlook due to China softness
Revenue $206M, down 10% YoY; GAAP EPS $0.03, Non-GAAP EPS $0.16 (down from $0.26).
Varex closes $155M senior secured revolving credit facility with Zions, replaces prior ABL
New $155M senior secured revolving credit facility matures September 26, 2027.
Varex Imaging shareholders elect directors, approve amended equity plan at 2024 annual meeting
All seven director nominees elected with ~92% of shares represented; vote results filed.
Varex Q1 FY2024 revenue $190M (-8% YoY), GAAP loss $0.01/sh, non-GAAP EPS $0.06
Revenue $190M, down 8% YoY; Medical segment $140M (-13%), Industrial $50M (+10%).
Varex Imaging adopts form of Performance Unit Agreement for future awards
Compensation Committee approved a form of Performance Unit Agreement under the 2020 Omnibus Stock Plan on November 17, 2023.
Varex Q4 FY2023 rev $227M; Medical down 10% YoY, Industrial up 27%; guides Q1 FY2024 rev $180-$200M
Q4 revenue $227M, down 2% YoY and 2% sequentially; full-year record revenue $893M.
Varex reports record Q3 revenue of $232M, up 8% YoY; non-GAAP EPS $0.37
Revenue $232M (record), up 8% YoY; Medical segment $175M (+5%), Industrial $57M (+20%).
Varex Q2 FY2023 revenue $228M beats guidance; non-GAAP EPS $0.26
Revenue $228M, up 6% YoY and 11% sequentially; GAAP EPS $0.10, non-GAAP EPS $0.26.
Varex elects 7 directors; Walter Rosebrough becomes Board Chair after Naumann-Etienne retirement
All seven director nominees elected with 34M to 34.5M votes for each; over 91% support.
Varex Q1 revenue $206M, down 11% sequential; Non-GAAP EPS $0.21; Q2 guidance soft
Revenue $206M (-11% QoQ, +3% YoY); Medical $160M, Industrial $46M.
Varex Imaging SVP/GM Detectors Brian Giambattista to retire; Andrew Hartmann named successor
Brian Giambattista retires as SVP & GM Detectors effective March 31, 2023; Andrew Hartmann (SVP Medical Sales & Marketing) succeeds him April 3, 2023.
Varex reports record Q4 revenue of $231M; non-GAAP EPS $0.42, guides Q1 $195-215M
Record Q4 revenue $231M (up 8% seq., 2% YoY); FY22 record revenue $859M.
Varex appoints Kathleen Bardwell to Board, Audit Committee, and Comp Committee
Kathleen L. Bardwell appointed to Board effective July 29, 2022, term expires at 2023 annual meeting.
Varex reports Q3 FY2022 revenue $214M, GAAP EPS $0.20; board adds Kathleen Bardwell
Revenue $214M, flat QoQ and +2% YoY; Medical segment flat, Industrial +8% YoY.
Varex Q2 FY2022 revenue $215M, non-GAAP EPS $0.37; guides Q3 revenue $190-220M
Revenue $215M, +8% sequentially and +6% YoY; Medical segment +9% YoY, Industrial -6% YoY.
All seven director nominees elected with strong support; broker non-votes ~2.16M.
Varex Q1 FY2022 revenue $199M below expectations; non-GAAP EPS $0.25; guides Q2 revenue $190-220M
Revenue $199M (+12% YoY, -12% sequential); GAAP EPS $0.03; non-GAAP EPS $0.25.
Varex reports record Q4 revenue $226M; Non-GAAP EPS $0.45; guides Q1 FY22 rev $200-220M
Q4 FY21 revenue $226M (record), up 7% sequentially and 33% YoY; Non-GAAP EPS $0.45 vs GAAP $0.20.
Varex Q3 FY21 revenue $211M (+23% YoY, +4% seq); Non-GAAP EPS $0.40
Revenue $211M, up 23% YoY and 4% sequentially, driven by Medical and Industrial segment demand.
Andrew Hartmann, who currently serves as the Company’s Senior Vice President, Medical Sales and Marketing, will succeed Mr. Giambattista as SVP and GM, effective April 3, 2023.
Brian Giambattista has advised the Company of his intention to retire as Senior Vice President and General Manager, Detectors (“SVP and GM”) of the Company, effective March 31, 2023
appointed Kathleen L. Bardwell to serve on the Board for a term effective as of July 29, 2022
appointed Kathleen L. Bardwell to serve on the Board for a term effective as of July 29, 2022
Max materiality 0.95 · Median 0.65 · Most common event earnings