Varian reports solid Q1

Strong growth in North American net orders helped drive radiation therapy firm Varian Medical Systems to a 16% increase in revenue in its fiscal 2007 first quarter.

The Palo Alto, CA-based vendor had revenues of $388 million, up from $334 million a year ago. For the period (end-December 29), Varian had net earnings of $50 million, compared with $41 million last year.

In the quarter, the North American net order growth was offset by declines in international regions due in large measure to order timing, Varian said. The firm said it experienced strong growth in net orders for image-guided radiotherapy and stereotactic radiosurgery products in North America and for flat-panel digital x-ray detectors.

Varian expects that fiscal 2007 revenues should increase by approximately 13%, with net earnings of $1.89 to $1.91 per diluted share for the year.

By AuntMinnie.com staff writers
January 25, 2007

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