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Varex Imaging Sees FY23 Revenue $195M-$215M, Adj. EPS $0.10-$0.30

Benzinga · 11/15/2022 16:07

The following guidance is provided for the first quarter of fiscal year 2023:

  • Revenues are expected to be between $195 million and $215 million
  • Non-GAAP net earnings per diluted share is expected to be between $0.10 and $0.30
    • Non-GAAP EPS guidance takes into account the adoption of ASU 2020-06, related to the accounting for convertible instruments. Under this accounting standard, there may be scenarios where the EPS calculation adds back the convertible loan interest expense to net income and adds approximately 8 million shares underlying our convertible notes and associated bond hedge to the 41 million diluted shares. For an illustrative view of potential scenarios, please see the appendix of our Q4 FY22 earnings slide deck, which can be found on our website at vareximaging.com/quarterly-reports.

Guidance for the company's net earnings per diluted share is provided on a non-GAAP basis only. This non-GAAP financial measure is forward-looking, and the company is unable to provide a meaningful or accurate GAAP forecast of net earnings per diluted share without unreasonable effort due to the uncertainty of amounts and timing of unusual items, such as restructuring costs.