NEW YORK, Jan 27 (Reuters) - Varian Medical Systems Inc (VAR.N) said on Wednesday its fiscal first-quarter earnings rose on cost cuts and higher sales of its equipment to treat cancer, and the company forecast 2010 profit above Wall Street epectations.
The provider of software and equipment for cancer clinics reported net income from continuing operations of $78.8 million, or 63 cents per share, compared with $68.8 million, or 56 cents per share, in the year-earlier period.
That beat analysts' average forecast of 56 cents per share, according to Thomson Reuters I/B/E/S.
Revenue from products and services for radiotherapy, radiosurgery and brachytherapy rose 8 percent to $430 million, while sales of X-ray tubes and digital detectors for filmless imaging rose 6 percent to $91 million.
The company said net earnings for the full year could range from $2.76 to $2.83 per share. Wall Street is expecting $2.73 per share.
Varian Medical Systems said 2010 revenue can grow by about 6 percent. It said second-quarter revenue could grow by about 4 percent, and that net earnings for the period could be in the range of 66 cents to 68 cents per share.
Shares of the company rose 2.1 percent to $50 from their closing price of $48.97 on the New York Stock Exchange. (Reporting by Ransdell Pierson; Editing by Gary Hill)
