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Oct 02, 2020
Varex Imaging Q4 2020 Earnings Report
Varex Imaging's financial performance stabilized, with revenues comparable to the previous quarter and gross margin improving sequentially.
Key Takeaways
Varex Imaging Corporation announced its Q4 and FY2020 financial results, with Q4 revenues of $170 million. The company's GAAP net loss was $0.66 per diluted share. The impact of COVID-19 on the business has started to stabilize.
Revenues for the fourth quarter of fiscal year 2020 exceeded expectations and were comparable to the third quarter of fiscal year 2020.
Strong sales of our CT tubes were partially offset by continued decline in sales for other medical and industrial products.
Gross margin for the quarter improved sequentially from the third quarter due to a slight improvement in product mix and the start of cost reduction actions implemented late in the third quarter and during the fourth quarter
Varex resolved the substantial doubt about its ability to continue as a going concern by fully paying off its prior credit facility with net proceeds from the notes transaction.
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 first quarter of fiscal year 2021, Varex expects revenue to be between $160 million and $180 million, and non-GAAP earnings per diluted share is expected to be between ($0.15) and $0.10.
Revenue & Expenses
Visualization of income flow from segment revenue to net income