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Jul 02, 2021
Varex Imaging Q3 2021 Earnings Report
Reported financial results for the third quarter of fiscal year 2021.
Key Takeaways
Varex Imaging Corporation announced its Q3 fiscal year 2021 results with revenues of $211 million, a 23% increase year-over-year, driven by demand in both the Medical and Industrial segments. GAAP net earnings were $0.29 per diluted share and non-GAAP net earnings were $0.40 per diluted share. Cash and cash equivalents improved $17 million sequentially to $128 million.
Revenues reached $211 million, driven by demand in both the Medical and Industrial segments.
Revenues increased 4% sequentially from the second quarter of fiscal year 2021 due mainly to sales gains in the Medical segment.
Revenues increased 23% year-over-year from the same quarter of the prior year driven by strength in both the Medical and Industrial segments.
Cash and cash equivalents improved $17 million sequentially to $128 million at the end of the third quarter.
Varex Imaging
Varex Imaging
Varex Imaging Revenue by Segment
Revenue by Segment
Medical Segment Revenue
CapyFin.comIndustrial Segment Revenue
CapyFin.com Forward Guidance
The following guidance is provided for the fourth quarter of fiscal year 2021: Revenues are expected to be between $205 million and $225 million and Non-GAAP net earnings per diluted share is expected to be between $0.25 and $0.40.
Revenue & Expenses
Visualization of income flow from segment revenue to net income