Varex Imaging Corporation (NASDAQ:VREX) saw its stock soar 5.08% in after-hours trading on Tuesday. The surge came after the medical imaging technology company reported better-than-expected financial results for the fourth quarter of fiscal year 2024 and provided an optimistic revenue outlook for the upcoming quarter.
For the quarter ended September 27, 2024, Varex reported non-GAAP earnings per share of $0.19, surpassing analysts' expectations of $0.09. The company's revenue of $205.7 million also exceeded estimates of $199.4 million, despite a 9.5% year-over-year decline. The strong performance was driven by strength in the company's Industrial segment, which helped offset a 12% drop in its Medical segment.
Looking ahead, Varex provided guidance for the first quarter of fiscal 2025, expecting revenue between $195 million and $215 million. The company also projected non-GAAP net earnings per diluted share to range from a loss of $0.05 to a profit of $0.10 for the upcoming quarter.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.