Radiation therapy firm Varian Medical Systems reported increased revenue for the first quarter of its 2014 fiscal year (end-December 27).
Total revenues in the first quarter increased 5% to $712 million, compared with $678 million in the first quarter of fiscal 2013. Net earnings increased 3% to $98 million in the quarter, compared with $95 million in the same quarter of the previous fiscal year.
First-quarter revenues in Varian's Oncology Systems division increased 3% to $541 million, up from $524 million in the first quarter of fiscal 2013. Revenues for the company's X-Ray Products unit advanced to $145 million in the quarter, up 9% from $133 million in the same quarter a year ago.
First-quarter net orders in Oncology Systems increased 3% to $490 million, compared with $477 million in last year's first quarter.
Varian also announced that it has expanded by three years an agreement with Toshiba America Medical Systems to supply that company with an estimated $515 million of imaging components. Varian also plans to add 120,000 sq ft to its production facility in Salt Lake City.
