Varex Imaging Corp. Files 10-Q for Period Ending Jan 3, 2025
Ticker: VREX · Form: 10-Q · Filed: Feb 6, 2025 · CIK: 1681622
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Varex Imaging 10-Q filed. Financials for period ending Jan 3, 2025 are in. Check it.
AI Summary
Varex Imaging Corp. filed its 10-Q for the period ending January 3, 2025. The filing details the company's financial position and operational performance. Key financial data points and disclosures relevant to investors are included in this report.
Why It Matters
This 10-Q filing provides investors with a crucial update on Varex Imaging Corp.'s financial health and performance, enabling informed investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal varying levels of risk.
Key Numbers
- 2025-01-03 — End of Fiscal Period (The latest financial data reported is as of this date.)
- 2025-02-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Varex Imaging Corp. (company) — Filer of the 10-Q report
- 20250103 (date) — End of the reporting period
- 20250206 (date) — Filing date of the report
- 801-972-5000 (phone_number) — Business phone number for Varex Imaging Corp.
FAQ
What is the primary business of Varex Imaging Corp.?
Varex Imaging Corp. is involved in the business of electronic components, NEC, as indicated by its SIC code [3679].
What is the fiscal year end for Varex Imaging Corp.?
The fiscal year end for Varex Imaging Corp. is October 3rd (1003).
What is the SEC file number for Varex Imaging Corp.?
The SEC file number for Varex Imaging Corp. is 001-37860.
What is the business address of Varex Imaging Corp.?
The business address of Varex Imaging Corp. is 1678 S. PIONEER ROAD, SALT LAKE CITY, UT 84104.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending January 3, 2025.
Filing Stats: 4,534 words · 18 min read · ~15 pages · Grade level 9.9 · Accepted 2025-02-06 16:08:37
Filing Documents
- var-20250103.htm (10-Q) — 1418KB
- varexq125exhibit311.htm (EX-31.1) — 9KB
- varexq125exhibit312.htm (EX-31.2) — 9KB
- varexq125exhibit321.htm (EX-32.1) — 6KB
- varexq125exhibit322.htm (EX-32.2) — 5KB
- var-20250103_g1.jpg (GRAPHIC) — 107KB
- 0001681622-25-000015.txt ( ) — 9343KB
- var-20250103.xsd (EX-101.SCH) — 56KB
- var-20250103_cal.xml (EX-101.CAL) — 89KB
- var-20250103_def.xml (EX-101.DEF) — 300KB
- var-20250103_lab.xml (EX-101.LAB) — 767KB
- var-20250103_pre.xml (EX-101.PRE) — 564KB
- var-20250103_htm.xml (XML) — 1437KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.
Controls and Procedures
Controls and Procedures 36 Part II. Other Information 37 Item 1.
Legal Proceedings
Legal Proceedings 37 Item 1A.
Risk Factors
Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51 Item 3. Defaults Upon Senior Securities 51 Item 4. Mine Safety Disclosures 51 Item 5. Other Information 52 Item 6. Exhibits 53
Signatures
Signatures 54 1 Table of Contents PART I FINANCIAL INFORMATION
Unaudited Financial Statements
Item 1. Unaudited Financial Statements VAREX IMAGING CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended (In millions, except per share amounts) January 3, 2025 December 29, 2023 Revenues, net $ 199.8 $ 190.0 Cost of revenues 131.3 132.9 Gross profit 68.5 57.1 Operating expenses: Research and development 23.5 20.5 Selling, general, and administrative 33.8 32.4 Total operating expenses 57.3 52.9 Operating income 11.2 4.2 Interest income 2.1 1.9 Interest expense ( 8.0 ) ( 7.3 ) Other (expense) income, net ( 2.8 ) 0.6 Interest and other expense, net ( 8.7 ) ( 4.8 ) Income (loss) before taxes 2.5 ( 0.6 ) Income tax expense (benefit) 2.6 ( 0.2 ) Net loss ( 0.1 ) ( 0.4 ) Less: Net income attributable to noncontrolling interests 0.2 0.1 Net loss attributable to Varex $ ( 0.3 ) $ ( 0.5 ) Net loss per common share attributable to Varex Basic $ ( 0.01 ) $ ( 0.01 ) Diluted $ ( 0.01 ) $ ( 0.01 ) Weighted average common shares outstanding Basic 41.1 40.6 Diluted 41.1 40.6 See accompanying Notes to the Condensed Consolidated Financial Statements. 2 Table of Contents VAREX IMAGING CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) Three Months Ended (In millions) January 3, 2025 December 29, 2023 Net loss $ ( 0.1 ) $ ( 0.4 ) Other comprehensive income (loss) Foreign currency translation adjustments 2.6 ( 1.0 ) Total comprehensive income (loss) 2.5 ( 1.4 ) Less: Comprehensive income attributable to noncontrolling interests 0.2 0.1 Comprehensive income (loss) attributable to Varex $ 2.3 $ ( 1.5 ) See accompanying Notes to the Condensed Consolidated Financial Statements. 3 Table of Contents VAREX IMAGING CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except share and per share amounts) January 3, 2025 September 27, 2024 Assets Current assets: Cash and cash equivalents $ 176.0 $ 168.7 Marketable securities 36.6 31