Capping what it called a mixed but promising year, radiation therapy firm Varian Medical Systems said revenues were up while net earnings fell slightly in the fourth quarter of 2013 (end-September 30), compared with the same quarter in 2012.
Company-wide revenues totaled $770 million in the fourth quarter, up 2% from the same quarter a year ago, while revenues for fiscal 2013 were $2.9 billion, up 5% from the 2012 total.
The company's net earnings were $117.3 million in this year's fourth quarter, down 2.4% from $120.2 million in 2012. Net earnings for fiscal 2013 were $438.2 million, up 2.6% from $427 million in fiscal 2012, Varian said.
The company ended the 2013 fiscal year with a $2.9 billion backlog, up 1% from last year. The increase came despite Varian adjusting its backlog downward by $156 million to account for ongoing uncertainty in the U.S. healthcare environment and a higher level of order cancellations, the firm said.
