Radiation therapy developer Varian Medical Systems of Palo Alto, CA, has reported growth in both revenues and earnings for the company's third quarter (end-June 27).
For the quarter, Varian posted revenues of $512.8 million, up 21% compared with $423.7 million in the same quarter of 2007. The company had a net income of $74.2 million, compared with a net income of $50.3 million in the corresponding quarter of 2007.
Varian said that all three of its major businesses -- Oncology Systems, X-Ray Products, and Security -- contributed to the growth. The firm's oncology sales grew 21% thanks to rapid acceptance of its RapidArc image-guided intensity-modulated radiation therapy unit, while revenues in the x-ray business grew 22% due to strong demand for flat-panel digital detectors.
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