Radiation oncology vendor Varian Medical Systems of Palo Alto, CA, achieved a 14% gain in third-quarter (end-June 30) revenues, to $395.7 million, compared with $346.6 million in the same quarter of the last fiscal year.
Net earnings reached for the quarter were $65.7 million, compared with $51.1 million in the same quarter a year ago. Net orders in the third quarter increased 19% to $443 million, while Varian's backlog grew 22% to $1.3 billion.
For the nine-month period, revenues were $1.14 billion, compared with $996.4 million in the same period of the last fiscal year. Year-to-date net earnings climbed to $162.7 million, up from $145.6 million in the same period a year ago.
Varian attributed its growth to new products for image-guided radiation therapy for cancer, stereotactic radiosurgery, filmless x-rays, and security and inspection. Its Oncology Systems division posted third-quarter revenues of $331 million, a gain of 14% from the third quarter of last fiscal year.
Varian added that it expects fiscal-year 2006 revenues to increase approximately 14%.
By AuntMinnie.com staff writers
July 31, 2006
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