Varex Imaging Corporation announced its unaudited financial results for the first quarter of fiscal year 2025, reporting revenues of $200 million, a 5% increase year-over-year. Both the Medical and Industrial segments contributed to this growth, with Medical revenue up 3% to $145 million and Industrial revenue up 10% to $55 million.
The company achieved a non-GAAP gross margin of 35% in the quarter, an improvement from 31% in the first quarter of fiscal year 2024. Non-GAAP EPS increased to $0.07, up from $0.06 in the prior year period. Cash flow from operations was $10 million, and cash, cash equivalents, and marketable securities totaled $219 million.
For the second quarter of fiscal year 2025, Varex provided guidance for revenues between $205 million and $225 million, and non-GAAP EPS between $0.15 and $0.25. Non-GAAP gross margin is expected to be between 33% and 34%. CEO Sunny Sanyal noted solid demand, favorable sales mix, and productivity gains across both segments.
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