Varex Imaging Corporation (NASDAQ: VREX) reported Q2 EPS of $0.34, $0.01 better than the analyst estimate of $0.33. Revenue for the quarter came in at $196 million versus the consensus estimate of $194.76 million.

• Revenues were $196 million
• Gross margin was 33% | Adjusted gross margin* was 34%
• Operating earnings margin was 7% | Adjusted operating earnings margin* was 12%
• Net earnings were $0.15 per diluted share | Adjusted net earnings* were $0.34 per diluted share

"We had solid performance in the second quarter of fiscal year 2019 led by continued strong product sales for the industrial, mammography and oncology markets. Our year to date revenues and adjusted gross margin remain on track with expectations," said Sunny Sanyal, Chief Executive Officer of Varex. "We also continued to make good progress with reducing our operating expenses and cost synergies from operational consolidation of acquired imaging businesses are proceeding per plan. In addition, we completed the previously announced acquisition of Direct Conversion last week, which we believe will expand our addressable market by approximately $200 million over the coming years," Sanyal added.

GUIDANCE:

Varex Imaging Corporation sees FY2019 EPS of $1.25-$1.55, versus the consensus of $1.37. Varex Imaging Corporation sees FY2019 revenue of $760-785 million, versus the consensus of $774.51 million.

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