Varian Medical Systems Q2 adjusted earnings Miss Estimates

(RTTNews) - Varian Medical Systems (VAR) reported a profit for its second quarter that increased from last year.

The company's bottom line totaled $88.6 million, or $0.96 per share. This compares with $73.2 million, or $0.79 per share, in last year's second quarter.

Excluding items, Varian Medical Systems reported adjusted earnings of $96.2 million or $1.05 per share for the period.

Analysts had expected the company to earn $1.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.8% to $779.4 million from $729.9 million last year.

Varian Medical Systems earnings at a glance:

-Earnings (Q2): $96.2 Mln. vs. $106.7 Mln. last year. -EPS (Q2): $1.05 vs. $1.15 last year. -Analysts Estimate: $1.15 -Revenue (Q2): $779.4 Mln vs. $729.9 Mln last year.

-Guidance: Full year EPS guidance: $4.60 to $4.75