Varian Medical Systems reported fourth-quarter fiscal 2003 revenues of $303.3 million, up 16% from the $261.4 million reported in the same period a year earlier. Net earnings for the quarter (end-September 26) were $43.6 million, compared with $33.8 million a year earlier.
For fiscal 2003, the firm stated revenues of $1.2 billion, up 18% compared with $910.3 million in the 2002 fiscal year. Net earnings for the year were $130.9 million compared with net earnings of $93.6 million in fiscal 2002.
The Palo Alto, CA-based manufacturer of integrated cancer therapy systems, x-ray tubes, and flat-panel subsystems reported a backlog at the end of fiscal 2003 of a record $808.4 million, up 16% from the end of the previous year. Varian CEO Richard Levy said that total company sales should increase in the low teens in fiscal 2004 compared with the fiscal-year 2003 total.
By AuntMinnie.com staff writersOctober 29, 2003
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