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Sep 29, 2023
Varex Imaging Q4 2023 Earnings Report
Varex Imaging reported solid Q4 2023 results with strong Industrial segment performance offsetting lower Medical segment revenue in China.
Key Takeaways
Varex Imaging Corporation announced its Q4 FY23 financial results with revenues of $227 million. The company's performance was driven by a strong Industrial segment, which offset lower revenue in the Medical segment, particularly in China. Cash flow from operations was $47 million, and the company finished the fiscal year with $195 million in cash and marketable securities.
Revenues reached $227 million.
GAAP gross margin was 34%, while non-GAAP gross margin was 36%.
GAAP operating margin was 11%, and non-GAAP operating margin was 13%.
Cash flow from operations totaled $47 million.
Forward Guidance
For the first quarter of fiscal year 2024, Varex expects revenues to be between $180 million and $200 million, and non-GAAP net income per diluted share is expected to be between $0.00 and $0.20.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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