Varex Imaging Corporation (NASDAQ: VREX) reported Q2 EPS of $0.35, $0.19 better than the analyst estimate of $0.16. Revenue for the quarter came in at $204 million versus the consensus estimate of $186.1 million.

2QFY21 Summary

• Revenues $204 million
• GAAP gross margin 32% | Non-GAAP gross margin* 35%
• GAAP operating expense $49 million | Non-GAAP operating expense* $45 million
• GAAP operating margin 8% | Non-GAAP operating margin* 13%
• GAAP net earnings $0.08 per diluted share | Non-GAAP net earnings* $0.35 per diluted share

“Financial results for the second quarter of fiscal year 2021 were stronger than our expectations and exceeded pre-COVID revenue levels. Driving this was continued strong global CT tube sales and higher sales of industrial digital detectors. We also had higher demand for our other medical imaging products related to certain elective medical procedures,” said Sunny Sanyal, Chief Executive Officer of Varex. Sanyal added, “We also continued to have strong expense management, which led to excellent bottom-line results.”

GUIDANCE:

Varex Imaging Corporation sees Q3 2021 EPS of $0.15-$0.35, versus the consensus of $0.20. Varex Imaging Corporation sees Q3 2021 revenue of $195-215 million, versus the consensus of $187.71 million.

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