Varex Imaging Corp. (VREX) reported strong earnings and revenue for the fourth quarter and fiscal year 2025 and provided guidance for the first quarter of fiscal year 2026.
The Salt Lake City-based medical device maker is known for its X-ray imaging components, and it operates in two segments: the medical segment and the Industrial segment.
On a non-GAAP basis, the company's net income for the fourth quarter ended Oct.3, 2025, jumped to $15.3 million or $0.37 per share from $6.5 million or $0.16 per share in the fourth quarter ended Sep.27, 2024.
Total revenue was $229 million for the fourth quarter of 2025, an increase of 11% from $206 million in Q4 2024.
The Medical segment contributed $152 million to the total revenue in the fourth quarter of 2025, up 5% from $144 million in the prior year, driven by strong global CT tube demand. Meanwhile, the Industrial segment accounted for $77 million, compared to $61 million in Q4 2024, reflecting sustained momentum in cargo systems.
Cash, cash equivalents and marketable securities stood at $155 million at the end of fiscal year 2025.
Looking ahead to the first quarter of fiscal year 2026, the company expects revenue to be in the range of $200 million to $215 million, and non-GAAP net earnings to range between $0.05 and $0.25 per share. This compares with revenue of $200 million and non-GAAP earnings per share of $0.07 per in the prior- year quarter.
VREX has traded in the range of $6.67 to $16.93 over the past year. The stock closed yesterday's trading at $11.86, up 3.76%.
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