Varian Medical Systems Reports Results for Fourth Quarter of Fiscal Year 2012

Varian Medical Systems (NYSE: VAR) today is reporting net earnings from continuing operations of $1.08 per diluted share in the fourth quarter of fiscal year 2012, up 14 percent from $0.95 in the year-ago quarter. Net earnings per diluted share from continuing operations for fiscal year 2012 climbed to $3.76, up 9 percent from $3.44 in fiscal year 2011. Varian's company-wide revenues totaled $756 million for the fourth quarter of fiscal 2012, up 5 percent from the year-ago quarter. Revenues for fiscal year 2012 were $2.8 billion, up 8 percent from the fiscal year 2011 total. Excluding proton revenues from the comparisons, fourth quarter revenues were up 9 percent from the year-ago quarter and up 8 percent for the fiscal year. The company ended fiscal year 2012 with a $2.8 billion backlog, up 12 percent from the end of fiscal year 2011.