Net income and revenues both grew smartly in the second quarter of fiscal 2004 at radiation therapy vendor Varian Medical Systems of Palo Alto, CA. Most of the growth was attributable to strong results in the company's oncology systems business, while results in its x-ray products unit retreated slightly.
For the quarter (end-March 31), Varian posted revenues of $320.6 million, up 20% compared with sales of $266.2 million in the second quarter of 2003. Net income stood at $43.7 million, compared with a profit of $34.2 million in the same period the year before.
Varian said sales of its Clinac accelerators and associated products and software rose 26%, to $270 million, boosting the company's Oncology Systems division. Things were less rosy in Varian's X-Ray Products division, however, which includes x-ray tubes and amorphous silicon flat-panel detectors. Sales in the unit were $42 million, down 5% compared with the second quarter of fiscal 2003, which was a record period for the business.
By AuntMinnie.com staff writersApril 29, 2004
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