PALO ALTO, Calif., Jan. 26, 2005 – Varian Medical Systems(NYSE:VAR) today is reporting higher earnings, revenues, net orders, and quarter-ending backlog for the first quarter of fiscal year 2005. The company today reported net earnings of $40 million ($0.29 per diluted share) for the first quarter of fiscal year 2005, versus net earnings of $29 million ($0.21 per diluted share) in the year-ago first quarter. First-quarter revenues were $299 million, up 12 percent from the year-ago quarter, with growth in all business segments. Net orders were $334 million for the first quarter, up 8 percent from the year-ago quarter with solid contributions from emerging product lines. The company ended the quarter with another record backlog of $1 billion, 18 percent higher than at the end of the first quarter in fiscal year 2004. “Expected revenue growth led to solid gains in gross margin, operating margin, and earnings per diluted share,” said Richard M. Levy, chairman and CEO of Varian Medical Systems. “Strong net order growth in the international market and in our emerging product lines for flat panel imaging, brachytherapy, and image-guided radiation therapy (IGRT) was partially offset by a decline in North American Oncology Systems’ orders. Click here to read this release in its entirety.
Varian Medical Systems Reports Earnings, Revenues, Net Orders, and Backlog for First Quarter of Fiscal Year 2005; Company Raises Guidance for Fiscal Year 2005
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