PALO ALTO, Calif., Oct. 04, 2004 Varian Medical Systems, Inc.(NYSE:VAR) announced today that demand for new products for IGRT (image-guided radiation therapy) has helped to drive strong net order growth in its Oncology Systems business during the fourth quarter of fiscal 2004. The products for IGRT are featured this week in Varian’s exhibit at the annual meeting of the American Society of Therapeutic Radiology and Oncology (ASTRO) in Atlanta.
“Demand for our IGRT-enabled products for more precise forms of radiation therapy and radiosurgery continues to be robust, and we have established a clear lead in the deployment of this technology,” said Richard M. Levy, chairman and CEO of Varian Medical Systems. “We now have six on-board imaging systems in clinical use for IGRT treatments and another 16 installations are underway. We are seeing tremendous interest and rapid deployment of this promising technology, which is especially noteworthy at this early stage of its market introduction.”
The company expects that fourth quarter net orders for its Oncology Systems business will show growth in excess of 20 percent over the comparable period last fiscal year, with more than 20 percent growth in North America and growth of more than 15 percent in international markets versus their respective totals for the year-ago period. Varian Medical Systems is making this announcement in conjunction with its annual investor meeting at ASTRO on Tuesday, Oct. 5, when management will focus on emerging technologies, including IGRT.The ASTRO investor meeting will include a review of Varian’s products and a tour of a local clinic where cancer patients receive advanced treatments including IGRT and stereotactic therapy using Varian’s most advanced technology. Varian’s fourth quarter financial performance will not be a topic of discussion at this meeting.
Varian Medical Systems’ management is scheduled to announce the company’s fourth quarter and fiscal year 2004 results, as well as its outlook for fiscal 2005, after the close of trading on the New York Stock Exchange on Wednesday, October 27. A conference call is scheduled for 2 p.m. PT and can be accessed via the web at http://investor.varian.com or via telephone at 1-800-299-0148 (inside the U.S.) or 1-617-801-9711 (outside the U.S.) with confirmation code 77321343. A replay of the conference call will be available on the web at http://investor.varian.com or via telephone at 1-888-286-8010 (inside the U.S.) or 1-617-801-6888 (outside the U.S.) with confirmation code 98871400.The telephone replay will be accessible through 5 p.m. Friday, Oct. 29.
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