Varex Imaging Corporation Reports Earnings Results for the Third Quarter Ended July 2, 2021
August 04, 2021 at 01:35 am IST
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Varex Imaging Corporation announced earnings results for the third quarter ended July 2, 2021. For the third quarter, the company announced total revenue was USD 211.2 million compared to USD 171.2 million a year ago. Operating income was USD 25.7 million compared to operating loss of USD 26.8 million a year ago. Net income was USD 12 million compared to net loss of USD 28.3 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to basic loss per share from continuing operations of USD 0.73 a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to diluted loss per share from continuing operations of USD 0.73 a year ago. For the nine months, total revenue was USD 591.8 million compared to USD 568.3 million a year ago. Operating income was USD 47.6 million compared to operating loss of USD 20.8 million a year ago. Net income was USD 8.7 million compared to net loss of USD 31.5 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to basic loss per share from continuing operations of USD 0.81 a year ago.
Varex Imaging Corporation is a designer and manufacturer of X-ray tubes, digital detectors and other image processing solutions. The Company operates through two segments: Medical and Industrial. The Medical segment designs, manufactures, sells and services X-ray imaging components, including X-ray tubes, digital detectors, ionization chambers and buckys, high voltage connectors, image-processing software and workstations, three-dimensional (3D) reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers. These components are used in a range of medical imaging applications. The Industrial segment designs, develops, manufactures, sells and services X-ray imaging products for use in a number of markets, including security applications for cargo screening at ports and borders and baggage screening at airports, and nondestructive testing, irradiation and inspection applications used in various other markets.