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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.
Varex Imaging
Varex Imaging
Varex Imaging Revenue by Segment
Revenue by Segment
Medical Segment Revenue
CapyFin.comIndustrial Segment Revenue
CapyFin.com 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