Revenue gains in its Oncology Systems and X-Ray Products segments propelled radiation therapy firm Varian Medical Systems of Palo Alto, CA, to double-digit growth in its first fiscal quarter (end-January 2).
Revenue increased 12% to $508.7 million in the first fiscal quarter of 2009, compared with $451.2 million in the first quarter of fiscal year 2008. Net orders advanced 13% to $551 million in the quarter, compared with $489 million in the same quarter of fiscal 2008.
Net earnings rose to $68.6 million, up 24% from $55.5 million in the same quarter a year ago.
In its fiscal 2009 forecast, Varian estimated that revenue could increase 10% to 13% despite the turbulent economy.
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