Non-GAAP (Adjusted) Financial Measures
This press release includes non-GAAP (which we refer to as "adjusted") financial measures for diluted earnings per share and operating profit margins. These non-GAAP financial measures exclude acquisition-related intangible amortization and restructuring and other related costs. Reconciliations of each of these non-GAAP financial measures to the most directly comparable GAAP financial measures are detailed in the Reconciliations of GAAP to Adjusted Results attached to this press release. We believe that presentation of these non-GAAP financial measures provides useful information to investors regarding our results of operations.
We believe that excluding acquisition-related intangible amortization provides supplemental information and an alternative presentation useful to investors' understanding of the company's core operating results and trends. In addition, investors have indicated to us that they analyze the benefits of acquisitions based on the cash return on the investment made, and thus consider financial measures excluding acquisition-related intangible amortization as important, useful information.
We similarly believe that excluding restructuring and other related costs
(principally related to facility closures and employee terminations to improve
operational efficiency) provides supplemental information and an alternative
presentation useful to investors' understanding of the company's core
operating results and trends, especially when comparing those results on a
consistent basis to results for previous periods and anticipated results for
future periods. Investors have indicated that they consider financial
measures of our results of operations excluding restructuring and other
related costs as importan
|SOURCE Varian, Inc.|
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