Digital x-ray company Varex Imaging saw revenues grow 33% for the company's financial results for the fourth quarter of fiscal 2021, a trend that helped the company swing into the black for the quarter.
For the period (end-October 1), Varex reported total revenues of $226.3 million, compared with $170 million in the fourth quarter of 2020. The company's net income for the most recent quarter was $8.8 million, compared with a net loss of $26.2 million in the last quarter of 2020.
For the full year, Varex reported revenues of $818.1 million, up 11% compared with full-year revenues in 2020 of $738.3 million. The company's net income for 2021 came in at $17.9 million, compared with a net loss of $57.4 million in 2020.
Varex's revenue growth in 2021 was driven by the company's medical segment, according to CEO Sunny Sanyal. In addition to its medical business, the company's industrial segment showed strength in the fourth quarter. The company said its growth occurred despite a "dynamic" supply chain.
