Radiation oncology and x-ray firm Varian Medical Systems reported increased revenues for its fourth quarter and year end of 2014 (end-September 30), but it saw lower net earnings for the periods.
Company-wide revenues totaled $812 million in the fourth quarter, up 5% from $770 million in 2013. For the year, revenues were $3 billion, up 4% from 2013's $2.9 billion.
The firm's net earnings were $105.9 million in this year's fourth quarter, down 9% from $117.3 million in 2013. Net earnings for fiscal 2014 were $403.7 million, down 8% from 2013's $438.2 million, Varian said.
The company attributed the lower net earnings to patent litigation charges, a delay in an order for an installation at the Maryland Proton Treatment Center in Baltimore, and an increase in the tax rate for the quarter.
