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Jul 03, 2020
Varex Imaging Q3 2020 Earnings Report
Announced financial results, impacted by COVID-19 with declining sales and unfavorable product mix, but cost reduction actions were implemented.
Key Takeaways
Varex Imaging Corporation reported a 13% decline in revenues compared to the previous year's quarter, primarily due to the impact of COVID-19. The company's GAAP net loss was ($0.73) per diluted share. Actions have been taken to reduce annual operating costs by more than $25 million.
Revenues were $171 million.
GAAP gross margin was 15%.
GAAP operating earnings margin was (15.7)%.
GAAP net loss was ($0.73) per diluted share.
Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal year 2020 Varex expects revenues to be in the range of $155 million to $170 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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