Varian books strong Q2

Varian Medical Systems reported healthy second-quarter results for fiscal 2002, with net earnings of $23.8 million, up 31% from the year-ago period. The Palo Alto, CA-based firm achieved second-quarter sales of $221 million and net orders of $231 million, up 10% and 13%, respectively, from the prior-year period. Backlog at the end of the quarter stood at $632 million, up $83 million from the end of the second quarter last year.

Oncology systems sales, which include Clinac accelerators, Ximatron simulators, and services for advanced radiotherapy, such as the company’s SmartBeam IMRT (intensity modulated radiation therapy), totaled $186 million for the quarter, 18% higher than the the same period last year. Second-quarter net orders in the company’s oncology systems division totaled $198 million, up 23% from the prior year.

The company’s x-ray products division saw sales continue to decline, to $28 million, down 25% from the year-ago quarter. Varian expects that annual sales and operating earnings in this business will decline from the previous fiscal year, according to Varian president and CEO Richard Levy.

Varian’s Ginzton Technology Center R&D facility contributed sales of $7 million for the quarter, up $2 million over the year-ago quarter. Net orders were $7 million, up $1 million from the year-ago quarter.

By AuntMinnie.com staff writers
April 26, 2002

Related Reading

Varian releases VariSeed 7.0, March 25, 2002

Varian inks $29 million U.K. sale, March 13, 2002

Varian posts Q1 sales growth despite x-ray weakness, January 31, 2002

Varian buys Argus Software, January 16, 2002

Varian SmartBeam users double, January 8, 2002

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