VAREX IMAGING (VREX) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 75%. A quarter ago, it was expected that this company would post earnings of $0.10 per share when it actually produced earnings of $0.19, delivering a surprise of 90%.Over the last four quarters, the company has surp ...

Making the Invisible Visible Q1 FY25 Earnings Presentation February 6, 2025 2/6/2025 1 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 financial results; earnings guidance; product demand; expected future financial results or performance; supply chain and logistics challenges; cost increases and expense management; changes in U.S. a ...

Revenue Performance - Total revenues for the three months ended January 3, 2025, were $199.8 million, an increase of $9.8 million or 5.2% compared to $190.0 million for the three months ended December 29, 2023[155]. - Medical segment revenues increased by $4.7 million to $144.6 million, primarily driven by higher sales of CT and fluoroscopy products, while sales in radiographic, dental, oncology, and mammography decreased[155]. - Industrial segment revenues rose by $5.1 million to $55.2 million, reflecting a growth of 10.2% compared to the previous period[155]. - Medical segment accounted for 72.4% of total revenues, while the Industrial segment represented 27.6%[155]. Gross Profit and Expenses - Total gross profit for the three months ended January 3, 2025, was $68.5 million, a 20.0% increase from $57.1 million for the same period in 2023[157]. - Medical segment gross profit rose to $49.5 million, reflecting a 27.2% increase, primarily due to increased sales volume and favorable product mix[157]. - Research and development expenses increased to $23.5 million, representing 11.8% of total revenues, up from 10.8% in the previous year[159][160]. - Operating expenses totaled $57.3 million, an 8.3% increase from $52.9 million, with selling, general, and administrative expenses rising by $1.4 million[159][161]. Debt and Cash Flow - As of January 3, 2025, total debt outstanding was $567.0 million, an increase from $443.4 million as of September 27, 2024[168]. - Cash and cash equivalents increased to $176.0 million, up from $168.7 million, reflecting a $7.3 million increase[167]. - Net cash provided by financing activities was $124.9 million for the three months ended January 3, 2025, compared to $(1.7) million in the prior year[171]. Market and Economic Conditions - The uncertain economic environment, including supply chain challenges and geopolitical tensions, may impact future financial performance[140]. - The company has experienced supply chain disruptions but has seen improvements, although material shortages and delivery delays may still pose challenges[141]. - A significant portion of the company's customers are outside the United States, leading to potential pricing pressure due to a strong U.S. Dollar, which may result in discounted prices or delayed purchasing decisions[182]. Risk Management - The company may enter into foreign currency forward and option contracts to hedge against foreign exchange risks, typically for one to three months[183]. - The company performs ongoing credit evaluations of customers and maintains strong credit controls, including letters of credit and down payments[185]. - As of January 3, 2025, the company had no borrowings subject to floating interest rates, reducing interest rate risk exposure[186]. - The company is exposed to market risks related to volatility in raw material prices, which can affect product margins and profitability[189]. Backlog and Installed Base - The estimated total backlog was approximately $307 million as of January 3, 2025, representing orders for which revenues have not yet been recognized[178]. - The installed base includes over 160,000 X-ray tubes and 170,000 X-ray detectors, with a significant portion of revenue coming from replacement and service of existing components[146]. Research and Development - The company employs approximately 400 individuals in research and development to drive innovation in X-ray imaging products[139]. - The company is developing CT X-ray tubes for Chinese OEMs, anticipating increased opportunities due to a new stimulus program in the healthcare industry introduced in March 2024[147]. Interest and Commodity Price Impact - Interest and other expense, net, increased to $(8.7) million, compared to $(4.8) million in the prior year, primarily due to higher interest expenses[162]. - A hypothetical 10% decrease in foreign exchange rates could result in an estimated annual earnings impact of $13.5 million[191]. - A 100 basis point decrease in interest rates of marketable securities could lead to an estimated annual earnings impact of $2.9 million[191]. - A 10% increase in commodity prices could result in an estimated annual earnings impact of $3.2 million[191].

Varex's revenue of $200 million was up 5% year-over-year. Medical segment revenue of $145 million was up 3% year-over-year. Industrial segment revenue of $55 million was up 10% year-over-year. Non-GAAP gross margin was 35% in the quarter compared to 31% in the first quarter of fiscal year 2024 and non- GAAP EPS increased to $0.07 in the quarter from $0.06 in the first quarter of fiscal year 2024. Balance Sheet & Cash Flow Exhibit 99.1 VAREX ANNOUNCES FINANCIAL RESULTS FOR FIRST QUARTER FISCAL YEAR 2025 SALT ...

Varex Imaging Corporation (NASDAQ:VREX) Q4 2024 Earnings Conference Call November 19, 2024 5:00 PM ET Company Participants Christopher Belfiore - Director of Investor Relations Sunny Sanyal - President and Chief Executive Officer Shubham Maheshwari - Chief Financial Officer Conference Call Participants Suraj Kalia - Oppenheimer & Co Kyle Bauser - B. Riley Securities Jim Sidoti - Sidoti & Company Larry Solow - CJS Securities Operator Greetings, and welcome to the Varex Fourth Quarter Fiscal Year 2024 Earning ...

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 27, 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 VAREX ANNOUNCES FINANCIAL RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2024 SALT LAKE CITY, November 19, 2024 – Varex Imaging Corporation (Nasdaq: VREX) today announced its unaudited financial results for the fourth quarter of fiscal year 2024. Q4 FY24 Summary • Revenues of $206 million • GAAP gross margin 33% | Non-GAAP gross margin* 33% • GAAP operating expense $56 million | Non-GAAP operating expense* $53 million • GAAP operating margin 5% | Non-GAAP operating margin* 7% • GAAP net earnings $( ...

Financial Data and Key Metrics Changes - Revenue in Q3 2024 was $209 million, down 10% year-over-year, with Medical segment revenue decreasing 15% and Industrial segment revenue increasing 6% [10][11] - Non-GAAP gross margin was 32%, down from 34% in Q3 2023, primarily due to unfavorable product sales mix in the Industrial segment [11][12] - Adjusted EBITDA for the quarter was $23 million, with non-GAAP EPS at $0.14, compared to $0.37 in the previous year [8][10] - Cash, cash equivalents, and marketable securities at the end of the quarter totaled $192 million, up $40 million year-over-year [14] Business Line Data and Key Metrics Changes - Medical segment revenue was $149 million, accounting for 71% of total revenue, while Industrial segment revenue was $60 million, making up 29% [10] - Sales in the Medical segment were impacted by inventory adjustments from customers and lower sales in China, while the Industrial segment benefited from strong demand in cargo inspection products [6][9] - Global sales of CT tubes improved slightly, while sales in fluoroscopy, oncology, mammography, and dental modalities were below their respective sales trends [8] Market Data and Key Metrics Changes - Revenue from the Americas decreased 4%, EMEA decreased 8%, and APAC decreased 17%, with the decline in APAC primarily due to lower sales in China [10] - China accounted for 14% of overall revenues in Q3 2024, down from 18% in the same quarter of the prior year [11] Company Strategy and Development Direction - The company is focused on long-term priorities in innovation, particularly in photon counting technology and cost leadership, while expanding its presence in India [9] - Management expects inventory adjustments in the Medical segment to subside in early calendar 2025, which may lead to improved sales [6][21] Management Comments on Operating Environment and Future Outlook - Management noted ongoing softness in the Chinese market due to anticorruption actions, with no significant improvement expected in the near term [7][19] - The company anticipates a gradual improvement in fiscal 2025, contingent on the resolution of inventory normalization and the overall market conditions in China [21][24] Other Important Information - R&D spending was $22 million, representing 11% of revenues, and is expected to remain around current levels [12] - Operating income was $15 million, down from $29 million in Q3 2023, with operating margin at 7% [12] Q&A Session Summary Question: Insights on the situation in China - Management observed a slight sequential improvement in orders from China but does not expect a durable pattern due to ongoing anticorruption campaigns [17][19] Question: Qualitative thoughts for fiscal 2025 - Management expects fiscal 2025 to be slightly better than fiscal 2024, with gradual improvements anticipated as inventory pressures ease [20][21] Question: Update on new products with photon counting technology - Management confirmed progress in photon counting technology as part of their long-term strategy, with optimism about regaining market share in various modalities [29] Question: Capital allocation priorities post-refinancing - The company plans to focus on funding business needs, capital expenditures, and deleveraging, with potential growth opportunities considered after achieving an optimal debt structure [32][33]

VAREX IMAGING (VREX) came out with quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -26.32%. A quarter ago, it was expected that this company would post earnings of $0.23 per share when it actually produced earnings of $0.16, delivering a surprise of -30.43%. Over the last four quarters, the compan ...

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 June 28, 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 ____________ ...