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Varex Imaging Corporation (VREX-1.01%) has submitted its 10-Q filing for the quarterly period ended January 3, 2025.
The filing reports net revenues of $199.8 million for the quarter, an increase from $190.0 million in the same quarter the previous year. The Medical segment contributed $144.6 million, while the Industrial segment added $55.2 million.
Gross profit for the quarter was $68.5 million, up from $57.1 million in the previous year. The increase was attributed to higher sales volume and favorable product mix.
Research and development expenses rose to $23.5 million, representing 11.8% of total revenues, up from 10.8% in the previous year. Selling, general, and administrative expenses increased to $33.8 million.
Operating income for the quarter was $11.2 million, compared to $4.2 million in the previous year. Interest and other expense, net was $8.7 million, an increase from $4.8 million.
The company reported a net loss of $0.1 million for the quarter, compared to a net loss of $0.4 million in the previous year. Net loss attributable to Varex was $0.3 million.
Cash and cash equivalents at the end of the period were $176.0 million, up from $168.7 million at the beginning of the period. Net cash provided by operating activities was $9.5 million.
Varex Imaging Corporation highlighted its participation in voluntary supply chain finance programs and noted an increase in its fixed cost commitment with dpiX for calendar year 2025.
The company also detailed its recent issuance of $125.0 million of additional Senior Secured Notes, with proceeds intended to repay a portion of the Convertible Notes due in June 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Varex Imaging Corporation quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.