Varian Medical Systems Q1 adjusted earnings Miss Estimates

(RTTNews) - Varian Medical Systems (VAR) reported a profit for first quarter that decreased from last year.

The company's profit totaled $88.2 million, or $0.96 per share. This compares with $103.2 million, or $1.12 per share, in last year's first quarter.

Excluding items, Varian Medical Systems reported adjusted earnings of $106.6 million or $1.16 per share for the period.

Analysts had expected the company to earn $1.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.9% to $828.9 million from $741.0 million last year.

Varian Medical Systems earnings at a glance:

-Earnings (Q1): $106.6 Mln. vs. $97.3 Mln. last year. -EPS (Q1): $1.16 vs. $1.06 last year. -Analysts Estimate: $1.19 -Revenue (Q1): $828.9 Mln vs. $741.0 Mln last year.