Varian Medical Systems Reports 28% Retreat In Q1 Profit

(RTTNews) - Varian Medical Systems (VAR) revealed earnings for first quarter that retreated compared to the same period last year.

The company said its bottom line declined to $70.3 million, or $0.75 per share. This was down from $97.2 million, or $0.99 per share, in last year's first quarter.

Analysts had expected the company to earn $1.05 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 0.8% to $763.3 million. This was up from $757.1 million last year.

Varian Medical Systems earnings at a glance:

-Earnings (Q1): $70.3 Mln. vs. $97.2 Mln. last year. -Earnings Decline (Y-o-Y): -27.7% -EPS (Q1): $0.75 vs. $0.99 last year. -EPS Decline (Y-o-Y): -24.2% -Analysts Estimate: $1.05 -Revenue (Q1): $763.3 Mln vs. $757.1 Mln last year. -Revenue Change (Y-o-Y): 0.8%

-Guidance: Next quarter EPS guidance: $0.84 - $0.90 Full year EPS guidance: $2.94 - $3.06