Revenue growth in its Oncology Systems business propelled radiation oncology firm Varian Medical Systems to higher revenue for the second quarter of 2018.
For the quarter (end-March 31), revenue from continuing operations increased 10% to $730 million, compared with $663 million in the second quarter of fiscal 2017. The company's net earnings were $73.2 million, compared with $69.5 million in the same quarter of 2017.
The company's Oncology Systems unit posted revenue of $698 million for the quarter, a 10% increase from $632 million in the same quarter a year ago.
For the six-month period, Varian posted revenue of $1.4 billion, compared with $1.3 billion in the same period of fiscal 2017. Net earnings decreased to $39 million, compared with net earnings of $77.5 million in the first six months last year.
In other Varian news, the company has secured a contract with New Karolinska Solna University Hospital in Stockholm to provide the hospital with eight of its TrueBeam radiotherapy systems. The deal also includes Varian's Aria oncology information system and its Eclipse treatment planning software, according to the firm.
