Varex Imaging Corp - VREX STOCK NEWS

Varex Imaging Corporation (Nasdaq: VREX) has appointed Kathleen L. Bardwell to its Board of Directors, effective July 29, 2022. Bardwell, with over 35 years of experience in regulatory affairs and compliance, previously served as Senior Vice President at STERIS Corporation. Her extensive background in quality and regulatory matters is expected to enhance Varex's governance. The board has increased its size from seven to eight members. Bardwell has also held various key roles in other financial institutions and is affiliated with professional organizations such as NACD and AICPA.

Varex Imaging Corporation (Nasdaq: VREX) reported its unaudited financial results for Q3 FY22, with revenues of $214 million, reflecting a 2% increase year-over-year. The GAAP net earnings were $0.20 per diluted share, and non-GAAP net earnings were $0.37 per diluted share. While revenues remained flat sequentially, the Industrial segment saw a 7% increase. However, cash flow from operations was a use of $3 million, reflecting ongoing investments in inventory. Looking ahead, Q4 FY22 guidance suggests revenues between $210 million and $240 million.

Varex Imaging Corporation (Nasdaq: VREX) will report its unaudited financial results for the third quarter of fiscal year 2022 on August 2, 2022, after market close. A conference call is scheduled for 3:00 PM Mountain Time on the same day, accessible via webcast and phone. Varex specializes in X-ray imaging components and employs approximately 2,100 individuals globally. The company continues to innovate in medical and industrial imaging sectors, showcasing over 70 years of expertise in designing critical X-ray systems.

Varex Imaging Corporation (Nasdaq: VREX) reported its unaudited financial results for Q2 FY22, achieving revenues of $215 million, an 8% sequential increase. The GAAP gross margin was 33%, while the non-GAAP gross margin stood at 34%. Non-GAAP net earnings per diluted share improved to $0.37 from $0.25 in the prior quarter. Despite ongoing supply chain constraints, strong demand persists. However, operational cash flow decreased by $8 million, and cash and cash equivalents fell to $115 million following a $27 million redemption of Senior Secured Notes.

Varex Imaging Corporation (Nasdaq: VREX) will report its unaudited financial results for Q2 FY2022 on May 3, 2022, after market close. The earnings release will be followed by a conference call at 3:00 PM MT, accessible via their website or through call-in options. A replay will be available from May 3rd to May 17th. Varex specializes in X-ray imaging components and has over 70 years of experience in the industry, providing critical systems for medical, industrial, and security applications.

Varex Imaging Corporation (Nasdaq: VREX) will present at Oppenheimer's 32^nd Annual Healthcare Conference on March 15, 2022, at 2:40 pm ET. The presentation will be available via webcast, accessible through Varex's website. CFO Sam Maheshwari will discuss the company’s business overview during the event.

Varex specializes in X-ray imaging components for medical and industrial applications, boasting over 70 years of innovation. The company is headquartered in Salt Lake City, employing around 2,100 people globally.

Varex Imaging Corporation (Nasdaq: VREX) announced a partial redemption of $27 million in its 7.875% senior secured notes due 2027, totaling 10% of the outstanding principal. The redemption price is set at 103% of the principal plus accrued interest, reducing the remaining principal to $243 million. This strategic move is expected to lower ongoing cash interest expenses by $2.1 million, as stated by CFO Sam Maheshwari. Varex continues to focus on cash generation to manage its debt effectively.

Varex Imaging Corporation (Nasdaq: VREX) reported unaudited financial results for 1QFY22, showing revenues of $199 million, down 12% sequentially but up 12% year-over-year. The GAAP gross margin was 33%, with non-GAAP operating margin at 11%. However, supply chain constraints impacted revenue fulfillment, leading to lower-than-expected results. Non-GAAP EPS stood at $0.25, while cash and cash equivalents rose to $158 million. For 2QFY22, revenue guidance is projected between $190 million and $220 million.

Varex Imaging Corporation (NASDAQ: VREX) will announce its unaudited financial results for Q1 FY 2022 on February 8, 2022, after market close. A conference call will follow at 3:00 PM MT, accessible via phone or live webcast on the company’s website. The replay will be available from February 8 until February 22. Varex is recognized for its innovation and manufacturing of X-ray imaging components used in various applications, employing approximately 2,100 people globally.