Navigation Links
Varian, Inc. Announces Cost Reduction Plan
Date:1/16/2009

PALO ALTO, Calif., Jan. 16 /PRNewswire-FirstCall/ -- Varian, Inc. (NasdaqGS: VARI) today announced a plan to eliminate approximately 240 regular employee and 80 temporary positions and to close certain facilities.

"In the face of continuing uncertainty in the global economic environment, we are taking proactive steps to reduce our cost structure, and position us to respond to demand fluctuations while continuing to invest in new product development and maintaining our high standard of customer service and support," said Garry W. Rogerson, President and Chief Executive Officer.

"We expect these actions will cost between $8.5 million and $10.5 million and result in a reduction of our annual operating expenses of between $20 million and $24 million once fully implemented. In addition to these restructuring actions, we have also instituted a salary freeze and restrictions on hiring and discretionary spending," said Rogerson. "Looking forward, these actions, combined with the positive impact of efficiency improvement activities implemented in recent years, should help us to maintain solid adjusted operating margins and cash flow from operations even if revenues decline. We will continue to monitor the economic situation and make the appropriate business decisions to remain successful throughout this challenging period, position ourselves for the economic recovery, and deliver on our long-term strategic plan."

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management's current expectations, are not guarantees of future performance, and involve certain risks and uncertainties that could cause the company's actual results to differ materially from management's current expectations and the forward-looking statements made in this press release. Those risks and uncertainties include, but are not limited to, the following: the actual costs, timing and benefits of the restructuring and other cost reduction activities described above; and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. We undertake no special obligation to update any forward-looking statements, whether in response to new information, future events or otherwise.

Varian, Inc. is a leading worldwide supplier of scientific instruments and vacuum technologies for life science and industrial applications. The company provides complete solutions, including instruments, vacuum products, laboratory consumable supplies, software, training and support through its global distribution and support systems. Varian, Inc. employs approximately 3,900 people worldwide and operates manufacturing facilities in North America, Europe and Asia Pacific. Varian, Inc. had fiscal year 2008 sales of $1.0 billion, and its common stock is traded on the NASDAQ Global Select Market under the symbol "VARI." Further information is available on the company's Web site: http://www.varianinc.com.

     For More Information, Contact:
     Investor Relations
     Varian, Inc.
     650.424.5471
     ir@varianinc.com

'/>"/>
SOURCE Varian, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Varian, Inc. Announces Online Experience
2. Varian, Inc. CEO to Speak at the Nasdaq OMX 22nd Investor Program
3. Varian, Inc. Reports Strong Fourth Quarter 2008 Results
4. New Flexible Vacuum Controller from Varian, Inc. is Expandable and Easy to Use
5. Varian, Inc. Board of Directors Makes Officer Changes
6. Varian, Inc. to Present at Thomas Weisel Partners 2008 Healthcare Conference
7. New Dual Wavelength X-ray Diffractometer From Oxford Diffraction, Now a Part of Varian, Inc., Allows Increased Throughput for Challenging Single Crystal Analyses
8. New Turbomolecular Pumping System From Varian, Inc. Delivers Portable, Dry, Ultra-high Vacuum.
9. Varian, Inc. Reports Third Quarter 2008 Results
10. James T. Glover Appointed to Board of Directors of Varian, Inc.
11. New Capillary Column From Varian, Inc. Offers Durability and Performance for High Temperature GC and GC/MS
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... May 26, 2016 , ... ... are used in leading laboratories all over the globe. Their cute firefly logo ... to manufacturing awesome cuvettes, FireflySci makes spectrophotometer calibration standards that never require recalibration. ...
(Date:5/25/2016)... ... 25, 2016 , ... The American Medical Informatics Association (AMIA) ... National Coordinator for Health IT (ONC) outlining a measurement approach to interoperability that ... when and where it was needed. The organization of health informatics professionals said ...
(Date:5/24/2016)... ... May 24, 2016 , ... ... and traumatic injuries, will be accelerated by research at Worcester Polytechnic Institute (WPI) ... of wound healing and tissue regeneration. , The novel method, developed by WPI ...
(Date:5/23/2016)... ... 2016 , ... PrecisionAg® Media has released its latest White ... paper outlines the key trends that are creating both opportunities and challenges for ... of highs and lows as the precision agriculture market has grown and matured ...
Breaking Biology Technology:
(Date:3/23/2016)... March 23, 2016 ... Sicherheit Gesichts- und Stimmerkennung mit Passwörtern ... (NASDAQ: MESG ), ein führender Anbieter ... Unternehmen mit SpeechPro zusammenarbeitet, um erstmals dessen ... wird die Möglichkeit angeboten, im Rahmen mobiler ...
(Date:3/18/2016)... LONDON , March 18, 2016 ... Established Suppliers of Biometrics, ICT, Manned & Unmanned Vehicles, Physical ... & security companies in the border security market and ... and Europe has led ... your companies improved success. --> defence & ...
(Date:3/14/2016)... March 14, 2016 NXTD ) ("NXT-ID" ... commerce market, announces the airing of a new series of ... week of March 21 st .  The commercials will air ... popular Squawk on the Street show. --> NXTD ... growing mobile commerce market, announces the airing of a new ...
Breaking Biology News(10 mins):