VREX falls as Q1 profit forecast disappoints

Varex Imaging

15/11/2023 17:38

** Shares of imaging company Varex Imaging  VREX.O  fall 1%
to $19.25 after forecasting Q1 profit below Wall st. estimates
    ** Co forecasts Q1 profit in the range $0 - $0.20/shr,
missing analyst estimate of $0.24/shr - LSEG data
    ** CFO Sam Maheshwari says, "given the anti-corruption
campaign, we expect China sales to be down in fiscal 2024
compared. Duration of the impact from this campaign is unclear" 
    ** CFO adds that the first quarter is a seasonally low
quarter for shipments and lower sales in China
    ** Co's Q4 also missed expectations - LSEG 
    ** Qtrly revenue declines mainly due to lower numbers from
China medical segment
    ** Stock is down 5.1% YTD 

 (Reporting by Pranav Kashyap in Bengaluru)