Varian Medical Systems reported first-quarter fiscal 2003 (end-December 29) net earnings of $21 million, compared with $13.2 million in net income in the same period a year earlier. The firm said first-quarter sales were $206.7 million, up 18% compared with $175.1 million in the year-ago quarter.
The Palo Alto, CA-based manufacturer of integrated cancer therapy systems, x-ray tubes, and flat-panel x-ray subsystems reported a backlog for the quarter of a record $743 million, up 19% compared with the same period last year. Net orders were $251.1 million, up 26% compared with $199.2 million from the year-ago period.
Varian CEO Richard Levy said the company "believes that sales will grow in the mid teens over their respective totals in fiscal 2002 for both the second quarter and the full fiscal 2003."
By AuntMinnie.com staff writersJanuary 24, 2003
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