Varex Imaging Corporation (NASDAQ: VREX) shares lost ground early Monday, on word it has received orders for its high-energy non-intrusive cargo and vehicle inspection systems valued at approximately $17 million USD from international customers. The systems will be placed at strategic locations securing sea and land ports.
CEO Sunny Sanyal, stated “We are pleased to announce additional orders this fiscal year for our Cargo Systems business, totaling over $55 million of orders year-to-date and believe this is a testament to our strong reputation in high energy Linear Accelerator based imaging and our ability to integrate this technology into our own Varex systems. We are pleased to support the efforts of our customers globally to promote safe and secure ports and borders.”
The Utah-based Varex is a leading innovator, designer, and manufacturer of X-ray imaging components, which include X-ray tubes, digital detectors, and other image processing solutions that are key components of X-ray imaging systems, as well as X-ray imaging systems for industrial applications.
“With a 70+ year history of successful innovation,” read this morning’s release, “Varex’s products are used in medical imaging as well as in industrial and security imaging applications. Global OEM manufacturers incorporate the company’s X-ray sources, digital detectors, connecting devices, and imaging software in their systems to detect, diagnose, protect, and inspect.”
VREX shares dished off 20 cents, or 2.5%, to $7.97.
