VREX - Varex Imaging stock +4.9% after FQ4 earnings beat

Varex Imaging ([[VREX]] +4.8%) FQ4 results:Revenues were $170M vs. $202.4M last year.GAAP gross margin was 26.6% vs. last year's 35.4%.GAAP operating expense was $58.1M vs. $55.4M.GAAP operating margin was (7.6%) vs. 8% previously.GAAP net loss was $0.66 per diluted share vs. $0.21 prior.Cash and cash equivalents were $101M“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.” said Sunny Sanyal, CEO.Guidance FQ1 2021: Revenue $160M-180M; Non-GAAP EPS expected between ($0.15) and $0.10.Previously: Varex Imaging EPS beats by $0.06, beats on revenue (Nov. 17)

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Varex Imaging stock +4.9% after FQ4 earnings beat