VREX - Varex hits 52-week high after quarterly beat better-than-expected guidance

Varex Imaging (VREX +11.5%) shares have recorded the biggest intraday gain since early February to reach a 52-week high after the company posted better than expected financials for the fourth quarter of fiscal 2021. The manufacturer of X-ray imaging equipment has also set the guidance for the current quarter ahead of Street forecasts. Quarterly revenue rose ~33% YoY to $226.3M, driven by a ~33% YoY growth in the Medical segment that generated $180.7M revenue, propelling the full-year total revenue by ~10% YoY to $818.1M. “I am excited to report a strong finish to the year. Broad-based strength globally, especially in our Medical Segment drove record quarterly revenue of $226 million in the fourth quarter of fiscal 2021,” CEO Sunny Sanyal noted. Compared to $26.2M net loss for the corresponding period in the previous year, Varex (NASDAQ:VREX) reported positive earnings for the third consecutive quarter with $8.8M in net income. For the first quarter

For further details see:

Varex hits 52-week high after quarterly beat, better-than-expected guidance