Modest revenue growth in its Oncology business mirrored overall fourth-quarter and full-year financial results for radiation therapy firm Varian Medical Systems for fiscal 2017 (end-September 29).
For the year, Varian grew revenues from continued operations by 2% to $2.67 billion, compared with $2.62 billion in fiscal 2016. Revenue from oncology systems increased 1% to $2.48 billion for the fiscal year, compared with $2.45 billion in the prior fiscal year. Net earnings slipped to $250.3 million in fiscal 2017, compared with net earnings of $402.7 million in 2016.
Fourth-quarter revenues from continued operations declined by 1% to $739 million, compared with $747.2 million in the fourth quarter of 2016. Oncology revenues climbed by 1% to $686 million based on constant currency. Net earnings dropped to $82.7 million, compared with net earnings of $117.8 million in the fourth quarter a year ago.
