By Sarina Isaacs
Shares of Varex Imaging rose in post-market trading after the company reported better-than-expected earnings and revenue for the fourth quarter.
The stock was up 3.7% to $15.10 after the bell on Tuesday. Shares closed the regular session up 3.1% to $14.56, and have gained 17% in the last three months.
The Salt Lake City-based medical-equipment maker reported a loss of $50 million, or $1.22 a share, for its fiscal fourth quarter ended Sept. 27, compared with a profit of $31.9 million, or 66 cents a share, in the same quarter a year ago.
On an adjusted basis earnings came in at 19 cents a share. Analysts were looking for 8 cents a share.
Revenue declined 9.5% to $205.7 million, topping analysts' estimates of $198.6 million.
Chief Executive Sunny Sanyal said revenue came in at the high end of its guidance, driven by strength in its industrial segment, where it is taking steps to expand into the cargo systems vertical.
The company also said it expects a first quarter loss on an adjusted basis of 5 cents per share to a profit of 10 cents per share, and revenue of $195 million to $215 million.
Write to Sarina Isaacs at sarina.isaacs@wsj.com
(END) Dow Jones Newswires
November 19, 2024 17:13 ET (22:13 GMT)
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