Varian Medical 4Q profit rises on system sales

Varian Medical Systems 3rd-qtr profit rises on boost in cancer therapy system sales

• On 7:42 am EDT, Friday October 30, 2009

PALO ALTO, Calif. (AP) -- Varian Medical Systems Inc., which makes cancer therapy systems, said Thursday its fiscal fourth-quarter profit jumped 23.5 percent on a boost from sales cancer therapy systems.

The company earned $97 million, or 77 cents per share, up from profit of $78.5 million, or 62 cents per share, during the same period a year ago. Revenue rose 8 percent to $642 million from $592.7 million. The fiscal 2009 fourth-quarter ended Sept. 30.

Analysts polled by Thomson Reuters expected profit of 74 cents per share on revenue of $593.2 million.

Revenue in the oncology systems segment rose 9 percent to $527 million. X-ray product revenue rose 11 percent to $93 million.

Looking ahead, the company said it expects profit from continuing operations between $2.65 and $2.75 per share in fiscal 2010 on up to a 5 percent boost in revenue.

Shares of Varian closed at $42.22 Thursday.