- Revenues for the third quarter increased 11.5% to $160.9
million, compared to $144.3 million in the same period in 2021.
Adjusted revenues increased 8.7% compared to the third quarter of
2021.
- GAAP net loss was $50.4 million in the third quarter, compared
to a net loss of $46.7 million in the same period last year.
Adjusted EBITDA was $30.8 million for the quarter, a 0.3% decrease
from $30.9 million in the same period last year.
- GAAP net loss per share for the third quarter was $0.26.
Adjusted earnings per share for the same period was $0.03.
- The company reaffirmed 2022 organic adjusted revenue growth of
4% to 6% and is now expecting adjusted EBITDA of $160 million to
$170 million and adjusted EPS of $0.37 to $0.41.
Mirion Technologies, Inc. (“Mirion,” "we" or the "company")
(NYSE: MIR), a global provider of radiation detection, measurement,
analysis and monitoring solutions to the medical, nuclear, defense,
and research end markets, today announced results for the third
quarter ended September 30, 2022.
Mirion reported year-to-date order growth of 23% as of September
30, 2022, compared to the same period last year. Backlog was $726
million as of September 30, 2022, reflecting 15% year-over-year
growth, driven by the company’s diversified product portfolio and
improving underlying market trends. Order growth and backlog
exclude the impact of the Hanhikivi project termination in the
second quarter of 2022.
“I am proud of our team’s efforts throughout the third quarter.
The operating environment continued to be challenging, but we
believe we have positioned the business well for future success,”
stated Thomas Logan, Mirion’s Chief Executive Officer. “I am
pleased with our order intake and the continued customer engagement
we are seeing across all of our business verticals. Our Medical
business posted a tremendous quarter with more than 20% organic
revenue growth, supported by strength across all of our end
markets. On the Industrial side, we saw strong order performance,
but order timing dynamics and foreign exchange movements hindered
performance.”
“The strength in demand for the solutions that Mirion provides
continues to impress me,” added Larry Kingsley, Chairman of
Mirion’s Board of Directors. “While execution proved to be more
challenging than expected during the quarter, I believe the
business is poised to deliver strong results in Q4 2022 and beyond.
Tom and the team have worked tirelessly to position Mirion for
success and I know they have a strong game plan in place to build
on the strong momentum across the business.”
Updated 2022 Outlook
“We are updating our guidance for 2022 to reflect our third
quarter performance and updated outlook for the operating
environment,” continued Mr. Logan. “We are expecting a strong
fourth quarter and believe that we have positioned our business
well to deliver on this updated outlook.”
Mirion is updating its guidance for the year ending December 31,
2022:
- Reaffirming organic adjusted revenue growth of 4% - 6%
- Adjusted EBITDA of $160 million - $170 million
- Adjusted EPS of $0.37 - $0.41
- Adjusted free cash flow of $30 million - $45 million
Two recent acquisitions, CIRS (acquired December 2021), and the
Collins Aerospace Critical Infrastructure business (acquired August
2022) are collectively expected to deliver 4.0% of inorganic
revenue growth in 2022. Foreign exchange rates are now expected to
result in an approximately negative 5% impact to reported adjusted
revenue growth. The guidance for organic adjusted revenue growth
excludes the impact of foreign exchange rates as well as mergers
and acquisitions. Other modeling and guidance assumptions include
the following:
- Euro to U.S. Dollar foreign exchange conversion rate of 1.00,
versus 1.02 previously
- Net interest expense of approximately $42 million
(approximately $38 million of cash interest)
- Approximately 181 million shares of Class A common stock
outstanding (excludes 8.0 million shares of Class B common stock,
27.2 million warrants, 18.8 million founder shares, subject to
vesting, 1.8 million restricted stock units, 0.4 million
performance stock units and a further 23.7 million shares reserved
for future equity awards (subject to annual automatic increases)),
all as of September 30, 2022
The company’s guidance contains forward-looking statements and
actual results may differ materially as a result of known and
unknown uncertainties and risks, including those set forth below
under the heading “Forward-Looking Statements.” In addition,
forward-looking non-GAAP financial measures are presented on a
non-GAAP basis without reconciliations of such forward-looking
non-GAAP measures due to the inherent difficulty in projecting and
quantifying the various adjusting items necessary for such
reconciliations, such as stock-based compensation expense,
amortization and depreciation expense and purchase accounting
adjustments, that have not yet occurred, are out of Mirion’s
control, or cannot be reasonably predicted. Accordingly,
reconciliations of our guidance for adjusted revenue, organic
adjusted revenue adjusted EBITDA, adjusted EPS and adjusted free
cash flow are not available without unreasonable effort.
Conference Call
Mirion will host a conference call today, November 1, 2022 at
4:30 p.m. ET to discuss its financial results. Participants may
access the call by dialing 1-877-407-9208 or 1-201-493-6784, and
requesting to join the Mirion Technologies, Inc. earnings call. A
live webcast will also be available at
https://ir.mirion.com/news-events.
A telephonic replay will be available shortly after the
conclusion of the call and until November 15, 2022. Participants
may access the replay at 1-844-512-2921, international callers may
use 1-412-317-6671, and enter access code 13733288. An archived
replay of the call and an accompanying presentation will also be
available on the Investors section of the Mirion website at
https://ir.mirion.com/.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. Words such as “anticipate,” “believe,” “continue,”
“could,” “estimate”, “expect”, “hope”, “intend”, “may”, “might”,
“should”, “would”, “will”, “understand” and similar words are
intended to identify forward looking statements. These
forward-looking statements include but are not limited to,
statements regarding our future growth prospects, future financial
and operating performance, including our financial guidance and
outlook, our order book and backlog, our growth strategy and
positioning, market trends, including supply chain hurdles and the
Russia-Ukraine conflict, our competitive positioning, foreign
exchange, interest rate and inflation expectations, mergers and
acquisitions, including integration of previously completed mergers
and acquisitions, our future share capitalization and any exercise,
exchange or other settlement of our outstanding warrants and other
securities. There are a significant number of factors that could
cause actual results to differ materially from statements made in
this press release, including changes in domestic and foreign
business, market, economic, financial, political and legal
conditions, including the Russia-Ukraine conflict and the
relationship between the United States and China; risks related to
the public’s perception of nuclear radiation and nuclear
technologies; risks related to the continued growth of our end
markets; our ability to win new customers and retain existing
customers; our ability to realize sales expected from our backlog
of orders and contracts; risks related to governmental contracts;
our ability to mitigate risks associated with long-term fixed price
contracts, including risks related to inflation; risks related to
information technology disruption or security; risks related to the
implementation and enhancement of information systems; our ability
to manage our supply chain or difficulties with third-party
manufacturers; risks related to competition; our ability to manage
disruptions of, or changes in, our independent sales
representatives, distributors and original equipment manufacturers;
our ability to realize the expected benefit from acquisitions,
including any synergies, or internal restructuring and improvement
efforts; our ability to issue debt or equity or equity-linked
securities in the future; risks related to changes in tax law and
ongoing tax audits; risks related to future legislation and
regulation both in the United States and abroad; risks related to
the costs or liabilities associated with product liability claims;
our ability to attract, train and retain key members of our
leadership team and other qualified personnel; risks related to the
adequacy of our insurance coverage; risks related to the global
scope of our operations, including operations in international and
emerging markets; risks related to our exposure to fluctuations in
foreign currency exchange rates, interest rates and inflation,
including the impact on our debt service costs; our ability to
comply with various laws and regulations and the costs associated
with legal compliance; risks related to the outcome of any
litigation, government and regulatory proceedings, investigations
and inquiries; risks related to our ability to protect or enforce
our proprietary rights on which our business depends or third-party
intellectual property infringement claims; liabilities associated
with environmental, health and safety matters; our ability to
predict our future operational results; risks associated with our
limited history of operating as an independent company; the impact
of the global COVID-19 pandemic, including the availability,
acceptance and efficacy of vaccinations, treatments and laws and
regulations with respect to vaccinations, on our projected results
of operations, financial performance or other financial metrics, or
on any of the foregoing risks. Further information on risks,
uncertainties and other factors that could affect our financial
results are included in the filings we make with the Securities and
Exchange Commission (the “SEC”) from time to time, including our
Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and
other periodic reports filed or to be filed with the SEC.
You should not rely on these forward-looking statements, as
actual outcomes and results may differ materially from those
contemplated by these forward- looking statements as a result of
such risks and uncertainties. All forward-looking statements in
this press release are based on information available to us as of
the date hereof, and we do not assume any obligation to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the date on which they were
made.
Use of Non-GAAP Financial Information
We believe that the presentation of non-GAAP financial
information provides important supplemental information to
management and investors regarding financial and business trends
relating to our financial condition and results of operations. For
further information regarding these non-GAAP measures, including
the reconciliation of these non-GAAP financial measures to their
most directly comparable GAAP financial measures, please refer to
the financial tables below, as well as the “Reconciliation of
Non-GAAP Financial Measures” section of this press release.
Basis of Presentation
As a result of the business combination (the "Business
Combination") with GS Acquisition Holdings Corp II ("GSAH"), the
company’s financial statement presentation distinguishes Mirion
Technologies (TopCo), Ltd (“Mirion TopCo”) as the “Predecessor”
until the closing date of the Business Combination, October 20,
2021 (the “Closing Date”). Mirion, which includes the combination
of Mirion TopCo and GSAH subsequent to the Business Combination, is
the “Successor” for periods starting from the Closing Date. As a
result of the application of the acquisition method of accounting
in the Successor period, the financial statements for the Successor
period are presented on a full step-up basis as a result of the
Business Combination, and are therefore not comparable to the
financial statements of the Predecessor period that are not
presented on the same full step-up basis due to the Business
Combination. Mirion adopted a calendar year fiscal year in
connection with the closing of the Business Combination.
About Mirion
Mirion Technologies is a leading provider of detection,
measurement, analysis and monitoring solutions to the nuclear,
defense, medical and research end markets. The organization aims to
harness its unrivaled knowledge of ionizing radiation for the
greater good of humanity. Headquartered in Atlanta (GA – USA),
Mirion employs around 2,800 people and operates in 13 countries.
For more information, and for the latest news and content from
Mirion, visit ir.mirion.com.
Mirion Technologies, Inc. Condensed
Consolidated Balance Sheets (Unaudited) (In millions,
except share data)
Successor
September 30, 2022
December 31,
2021
ASSETS
Current assets:
Cash and cash equivalents
$
58.4
$
84.0
Restricted cash
0.5
0.6
Accounts receivable, net of allowance for
doubtful accounts
133.2
157.4
Costs in excess of billings on uncompleted
contracts
67.8
56.3
Inventories
143.1
123.6
Prepaid expenses and other current
assets
35.0
31.5
Total current assets
438.0
453.4
Property, plant, and equipment, net
120.5
124.0
Operating lease right-of-use assets
41.8
45.7
Goodwill
1,551.0
1,662.6
Intangible assets, net
668.5
806.9
Restricted cash
0.9
0.7
Other assets
14.6
24.7
Total assets
$
2,835.3
$
3,118.0
LIABILITIES AND STOCKHOLDERS’ EQUITY
(DEFICIT)
Current liabilities:
Accounts payable
$
60.9
$
59.4
Deferred contract revenue
72.5
73.0
Notes payable to third-parties,
current
5.2
3.9
Operating lease liability, current
8.6
9.3
Accrued expenses and other current
liabilities
74.1
75.4
Total current liabilities
221.3
221.0
Notes payable to third-parties,
non-current
802.8
806.8
Warrant liabilities
40.6
68.1
Operating lease liability, non-current
36.4
40.6
Deferred income taxes, non-current
120.7
161.0
Other liabilities
38.5
36.5
Total liabilities
1,260.3
1,334.0
Commitments and contingencies (Note
10)
Stockholders’ equity (deficit):
Class A common stock; $0.0001 par value,
500,000,000 shares authorized; 200,102,086 shares issued and
outstanding at September 30, 2022; 199,523,292 shares issued and
outstanding at December 31, 2021
—
—
Class B common stock; $0.0001 par value,
100,000,000 shares authorized; 8,040,540 issued and outstanding at
September 30, 2022 and 8,560,540 issued and outstanding at December
31, 2021
—
—
Additional paid-in capital
1,875.4
1,845.5
Accumulated deficit
(255.0
)
(131.6
)
Accumulated other comprehensive loss
(119.0
)
(20.7
)
Mirion Technologies, Inc. (Successor)
stockholders’ equity
1,501.4
1,693.2
Noncontrolling interests
73.6
90.8
Total stockholders’ equity
1,575.0
1,784.0
Total liabilities and stockholders’
equity
$
2,835.3
$
3,118.0
Mirion Technologies, Inc. Condensed
Consolidated Statements of Operations (Unaudited) (In
millions, except per share data)
Successor
Predecessor
Successor
Predecessor
Three Months Ended September
30, 2022
Three Months Ended September
30, 2021
Nine Months Ended September
30, 2022
Nine Months Ended September
30, 2021
Revenues:
Product
$
117.1
$
107.3
$
364.4
$
374.9
Service
43.8
37.0
135.5
115.6
Total revenues
160.9
144.3
499.9
490.5
Cost of revenues:
Product
67.1
64.5
215.6
231.0
Service
24.0
17.9
71.2
55.5
Total cost of revenues
91.1
82.4
286.8
286.5
Gross profit
69.8
61.9
213.1
204.0
Operating expenses:
Selling, general and administrative
89.4
62.3
271.3
189.4
Research and development
8.0
8.5
22.5
27.7
Goodwill impairment
—
—
55.2
—
Total operating expenses
97.4
70.8
349.0
217.1
Loss from operations
(27.6
)
(8.9
)
(135.9
)
(13.1
)
Other expense (income):
Third party interest expense
13.1
10.8
29.4
32.7
Related party interest expense (Note
8)
—
33.0
—
97.8
Foreign currency loss (gain), net
3.1
(1.4
)
7.9
(4.3
)
Increase (decrease) in fair value of
warrant liabilities
12.0
—
(27.5
)
—
Other expense (income), net
(0.4
)
0.1
(0.5
)
(0.6
)
Loss before income taxes
(55.4
)
(51.4
)
(145.2
)
(138.7
)
(Benefit from) provision for income
taxes
(5.0
)
(4.7
)
(16.5
)
2.6
Net loss
(50.4
)
(46.7
)
(128.7
)
(141.3
)
Loss attributable to noncontrolling
interests
(3.3
)
—
(5.3
)
—
Net loss attributable to Mirion
Technologies, Inc. (Successor) / Mirion Technologies (TopCo), Ltd.
(Predecessor) stockholders
$
(47.1
)
$
(46.7
)
$
(123.4
)
$
(141.3
)
Net loss per common share attributable to
Mirion Technologies, Inc. (Successor) / Mirion Technologies
(TopCo), Ltd. (Predecessor) stockholders — basic and diluted
$
(0.26
)
$
(7.01
)
$
(0.68
)
$
(21.33
)
Weighted average common shares outstanding
— basic and diluted
181.333
6.665
181.058
6.623
Mirion Technologies, Inc. Unaudited
Consolidated Statements of Cash Flows (In millions)
Successor
Predecessor
Nine Months Ended September
30,
Nine Months Ended September
30,
2022
2021
OPERATING ACTIVITIES:
Net loss
$
(128.7
)
$
(141.3
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Accrual of in-kind interest on notes
payable to related parties
—
96.8
Depreciation and amortization expense
132.4
70.1
Stock-based compensation expense
24.8
(0.1
)
Amortization of debt issuance costs
2.7
2.7
Provision for doubtful accounts
(0.2
)
1.7
Inventory obsolescence write down
0.8
0.5
Change in deferred income taxes
(32.3
)
1.9
Loss on disposal of property, plant and
equipment
0.3
—
Loss (gain) on foreign currency
transactions
7.9
(4.3
)
(Decrease) increase in fair values of
warrant liabilities
(27.5
)
—
Amortization of deferred revenue
step-down
—
11.7
Amortization of inventory step-up
6.3
4.7
Goodwill impairment
55.2
—
Other
0.1
3.4
Changes in operating assets and
liabilities:
Accounts receivable
20.0
2.4
Costs in excess of billings on uncompleted
contracts
(17.4
)
(9.8
)
Inventories
(35.9
)
(2.3
)
Prepaid expenses and other current
assets
(6.2
)
(5.2
)
Accounts payable
(1.9
)
7.2
Accrued expenses and other current
liabilities
2.3
(6.3
)
Deferred contract revenue
2.8
5.1
Other assets
8.2
(2.2
)
Other liabilities
0.5
8.1
Net cash provided by operating
activities
14.2
44.8
INVESTING ACTIVITIES:
—
Acquisitions of businesses, net of cash
and cash equivalents acquired
(6.6
)
(15.9
)
Purchases of property, plant, and
equipment and badges
(22.7
)
(22.7
)
Sales of property, plant, and
equipment
0.8
—
Net cash used in investing activities
(28.5
)
(38.6
)
FINANCING ACTIVITIES:
Borrowings from notes payable to
third-parties, net of discount and issuance costs
—
1.9
Principal repayments
(4.6
)
(12.2
)
Other financing
(0.4
)
—
Net cash used in financing activities
(5.0
)
(10.3
)
Effect of exchange rate changes on cash,
cash equivalents, and restricted cash
(6.2
)
(2.7
)
Net increase (decrease) in cash, cash
equivalents, and restricted cash
(25.5
)
(6.8
)
Cash, cash equivalents, and restricted
cash at beginning of period
85.3
108.7
Cash, cash equivalents, and restricted
cash at end of period
$
59.8
$
101.9
Share Count
Consists of 181,352,086 shares of Class A common stock and
8,040,540 shares of Class B common stock outstanding as of
September 30, 2022. Excludes (1) 18,750,000 founder shares which
are shares of Class A common stock subject to vesting in three
equal tranches, based on the volume-weighted average price of our
Class A common stock being greater than or equal to $12.00, $14.00
and $16.00 per share for any 20 trading days in any 30 consecutive
trading day period, and such shares will be forfeited to us if they
fail to vest by October 20, 2026; (2) 27,249,879 shares of Class A
common stock issuable upon the exercise of 8,500,000 private
placement warrants and 18,749,879 publicly-traded warrants; (3) 1.8
million shares of Class A common stock underlying restricted stock
units and 0.4 million shares of Class A common stock underlying
performance stock units; and (4) any shares issuable from awards
under our 2021 Omnibus Incentive Plan, which had 23,650,563 shares
reserved for future equity awards (subject to annual automatic
increases). The 8,040,540 shares of Class B common stock are paired
on a one-for-one basis with shares of Class B common stock of
Mirion Intermediate Co., Inc. (the "paired interests"). Holders of
the paired interests have the right to have their interests
redeemed for, at the option of Mirion, shares of Class A common
stock on a one-for-one basis or cash based on a trailing stock
price average. All share data is as of September 30, 2022 unless
otherwise noted.
Reconciliation of Non-GAAP Financial Measures
In addition to our results determined in accordance with GAAP,
we believe the following non-GAAP measures are useful in evaluating
our operating performance. We use the following non-GAAP financial
information to evaluate our ongoing operations and for internal
planning and forecasting purposes. We believe that non-GAAP
financial information, when taken collectively, may be helpful to
investors because it provides consistency and comparability with
past financial performance. However, non-GAAP financial information
is presented for supplemental informational purposes only, has
limitations as an analytical tool, and should not be considered in
isolation or as a substitute for financial information presented in
accordance with GAAP. Other companies, including companies in our
industry, may calculate similarly titled non-GAAP measures
differently or may use other measures to evaluate their
performance, all of which could reduce the usefulness of our
non-GAAP financial measures as tools for comparison.
Investors are encouraged to review the related GAAP financial
measures and the reconciliation of these non-GAAP financial
measures to their most directly comparable GAAP financial measures
and not rely on any single financial measure to evaluate our
business.
Adjusted Revenues is defined as GAAP revenues adjusted to
remove the impact of purchase accounting on the recognition of
deferred revenue.
Organic Adjusted Revenues is defined as Adjusted Revenues
excluding the impact of foreign exchange rates as well as mergers
and acquisitions in the period.
Adjusted EBITDA is defined as net income before interest
expense, income tax expense, depreciation and amortization adjusted
to remove the impact of foreign currency gains and losses,
amortization of acquired intangible assets, the impact of purchase
accounting on the recognition of deferred revenue, changes in the
fair value of warrants, certain non-operating expenses (impairment
of an equity investment, incremental one-time costs related to the
Business Combination, incremental one-time costs associated with
becoming a public company, mergers and acquisition expenses,
restructuring costs, costs to achieve information technology system
integration and efficiency, and costs to achieve integration and
operational synergies), stock-based compensation expense, debt
extinguishment and income tax impacts of these adjustments.
Adjusted Net Income is defined as GAAP net income
adjusted for foreign currency gains and losses, amortization of
acquired intangible assets, the impact of purchase accounting on
the recognition of deferred revenue, changes in the fair value of
warrants and certain non-operating expenses also excluded from
Adjusted EBITDA, stock-based compensation expense, debt
extinguishment and income tax impacts of these adjustments.
Adjusted EPS is defined as adjusted net income divided by
weighted average common shares outstanding — basic and diluted.
Adjusted Free Cash Flow is defined as free cash flow
adjusted to include the impact of cash used to fund non-operating
expenses. We believe that the inclusion of supplementary
adjustments to free cash flow applied in presenting adjusted free
cash flow is appropriate to provide additional information to
investors about our cash flows that management utilizes on an
ongoing basis to assess our ability to generate cash for use in
acquisitions and other investing and financing activities.
Free Cash Flow is defined as U.S. GAAP net cash provided
by operating activities adjusted to include the impact of purchases
of property, plant, and equipment and purchases of badges.
Operating Metrics
Order Growth is defined as the amount of revenue earned
in a given period and estimated to be earned in future periods from
contracts entered into in a given period as compared with such
amount for a prior period. Order growth was calculated excluding
the impact of the Hanhikivi project termination in the second
quarter of 2022. Foreign exchange rates are based on the applicable
rates as reported for the time period.
The following tables presents reconciliations of certain
non-GAAP financial measures for the applicable periods.
Mirion Technologies, Inc. Reconciliation
of Adjusted Revenue & Adjusted EBITDA (In millions)
Successor
Predecessor
Successor
Predecessor
Three Months Ended September
30, 2022
Three Months Ended September
30, 2021
Nine Months Ended September
30, 2022
Nine Months Ended September
30, 2021
Revenue
$
160.9
$
144.3
$
499.9
$
490.5
Deferred revenue purchase accounting
adjustment
—
3.7
—
11.7
Adjusted Revenue
$
160.9
$
148.0
$
499.9
$
502.2
Income from operations
$
(27.6
)
$
(8.9
)
$
(135.9
)
$
(13.1
)
Amortization
35.2
16.1
111.5
53.3
Depreciation - core
5.8
5.1
16.0
17.0
Depreciation - Mirion Business Combination
step-up
1.6
—
4.9
—
Revenue reduction from purchase
accounting
—
3.7
—
11.7
Cost of revenues impact from inventory
valuation purchase accounting
—
—
6.3
4.7
Stock based compensation
8.5
—
24.8
(0.1
)
Goodwill impairment
—
—
55.2
—
Non-operating expenses
7.1
15.0
25.0
47.2
Other Income / Expense
0.2
(0.1
)
0.5
0.1
Adjusted EBITDA
$
30.8
$
30.9
$
108.3
$
120.8
Income from operations as % of revenue
(17.2
) %
(6.2
) %
(27.2
) %
(2.7
) %
Adjusted EBITDA as % of adjusted
revenue
19.1
%
20.9
%
21.7
%
24.1
%
Mirion Technologies, Inc. Reconciliation
of Adjusted Earnings per Share (In millions, except per share
values)
Three Months Ended
Nine Months Ended
September 30, 2022
September 30, 2022
Net loss attributable to Mirion
Technologies, Inc. (Successor) / Mirion Technologies (TopCo), Ltd.
(Predecessor) stockholders
$
(47.1
)
$
(123.4
)
Loss attributable to non-controlling
interests
(3.3
)
(5.3
)
GAAP net loss
$
(50.4
)
$
(128.7
)
Cost of revenues impact from inventory
valuation purchase accounting
—
6.3
Foreign currency (gain) loss, net
3.1
7.9
Amortization of acquired intangibles
35.2
111.5
Stock based compensation
8.5
24.8
Change in fair value of warrant
liabilities
12.0
(27.5
)
Goodwill impairment
—
55.2
Non-operating expenses
6.9
25.0
Tax impact of adjustments above
(9.7
)
(27.0
)
Adjusted Net Income
$
5.6
$
47.5
Weighted average common shares
outstanding — basic and diluted
181.333
181.058
Dilutive Potential Common Shares -
RSUs
0.019
0.032
Adjusted weighted average common shares
— diluted
181.352
181.090
GAAP loss per share
$
(0.26
)
$
(0.68
)
Adjusted earnings per share
$
0.03
$
0.26
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221101006213/en/
For investor inquiries: Jerry Estes ir@mirion.com For
media inquiries: Matthew Maddox mmaddox@mirion.com
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