Varian Medical grows Q3 sales, profit

Radiation therapy firm Varian Medical Systems of Palo Alto, CA, reported that efforts to control costs helped the company's bottom line in the third quarter of fiscal 2009.

For the period, Varian reported sales of $509.8 million, up slightly compared with revenue of $507.4 million in the third quarter of fiscal 2008. The company posted net income of $85.4 million for the most recent quarter, compared with net income of $74.2 million in the corresponding period of fiscal 2008.

The company said that revenue in its Oncology Systems business grew 5% to $428 million, while sales in its X-Ray Products segment dropped 13% to $67 million as the company's OEM partners cut back on orders in response to the recession. Varian said that orders began to strengthen in the latter half of the period.

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