Varian achieves double-digit gains in Q2

Double-digit growth in net orders in its x-ray products and oncology systems businesses produced gains in revenues for Varian Medical Systems in its fiscal second quarter.

Revenues for the second quarter (end-March 31) grew 19% to $527.6 million, compared with $442.6 million in the second quarter of 2007. Net earnings climbed 17% to $71.3 million, compared with $61 million in the same quarter a year ago.

In the company's fiscal second quarter, oncology systems revenues totaled $421 million, up 17% from the second quarter of the last fiscal year. Revenues in the x-ray products business, including tubes and digital flat-panel detectors, were up 14% to $75 million, compared to the same quarter a year ago.

For the six-month period, revenues totaled $986.1 million, a 19% gain over $830.5 million in the same period of fiscal 2007. Net earnings rose 15% to $126.8 million, compared with $110.5 million in the same period a year ago.

Given its results midway through fiscal 2008, the Palo Alto, CA-based radiation therapy firm anticipates 12-month revenues could grow by 15% to 16% over fiscal 2007.

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