Sunny Sanyal on debt management
From VAREX IMAGING (VREX) · · Sidoti Events
“We plan to leverage this $125 million and also remaining cash from our balance sheet to pay down the convertible note. Our intention is to pay down the debt but that is the direction we are headed. We would have taken care of the convertible by paying it down with cash from the balance sheet and not to convert the convertible or refinance the convertible into a new convertible.”
On , Sunny Sanyal, President, Chief Executive Officer & Director at VAREX IMAGING CORP, spoke about debt management during VAREX IMAGING (VREX) on Sidoti Events.
About Sunny Sanyal
Sunny Sanyal, President and CEO of Varex Imaging, stated at a Sidoti conference in April 2025 that the impact of China’s anti-corruption campaign on the company’s sales is "largely behind us," though he noted lingering effects and said buying behavior among OEM customers in China has opened up with more positive sentiment. He said the company expects gradual improvement rather than a snapback. Sanyal also discussed the company’s position on tariffs, stating that the direct cost impact of tariffs is not significant and that the company has diversified its supply chain with suppliers in Europe, India, and self-sufficient operations in China. He said the selloff after the company’s earnings call was "not warranted." Sanyal highlighted several growth opportunities, including radiographic imaging from India, photon counting detectors expected to contribute $150 million by 2029, and cargo inspection as a new revenue segment. He said the company sells $20 to $25 million worth of photon counting detectors annually, with one global OEM on track for launch. Regarding the cargo inspection market, Sanyal said demand is being spurred by global security concerns and that the company’s linear accelerators can be used for material discrimination, a feature that may become more important with tariffs. He also stated that the destocking event among OEMs is "largely behind us," with an uptick in order intake rates in the fourth quarter and first quarter.