Varex Imaging Corporation (VREX) Tops Q4 EPS by 9c, Beats on Revenues; Offers FY18 EPS Mid-Point Guidance Below Consensus

Varex Imaging Corporation (NASDAQ: VREX) reported Q4 EPS of $0.59, $0.09 better than the analyst estimate of $0.50. Revenue for the quarter came in at $216 million versus the consensus estimate of $213.73 million.

Varex Outlook

For fiscal year 2018, including contribution from a full year of the acquired imaging business, the company expects revenues to grow by 13% to 14% from the prior fiscal year. The company expects adjusted net earnings* to be in a range of $1.78 to $1.88 per diluted share for fiscal year 2018.

Guidance for the company's net earnings per diluted share is provided on an adjusted basis only. This adjusted financial measure is forward-looking and without unreasonable effort the company is unable to provide a meaningful or accurate GAAP forecast of net earnings per diluted share due to the uncertainty of amounts and timing of unusual items, such as integration or restructuring costs.

Quarterly Highlights

• Revenues increased 25% to $216 million, including $35 million from the acquired imaging business
• Gross margin was 36% | Adjusted gross margin* was 38%
• Operating earnings margin was 12% | Adjusted operating earnings margin* was 16%
• Net earnings were $0.39 per diluted share | Adjusted net earnings* were $0.59 per diluted share

GUIDANCE:

Varex Imaging Corporation sees FY2018 EPS of $1.78-$1.88, versus the consensus of $1.87.

For earnings history and earnings-related data on Varex Imaging Corporation (VREX) click here.

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