Vacuum Technologies revenues decreased 1.6% to $40.4 million in the first quarter of fiscal year 2008, compared to $41.1 million in the first quarter of fiscal year 2007. Adjusted operating profit margin was 19.5% in the first quarter of fiscal year 2008, compared to an unusually high 22.2% in the first quarter of the prior fiscal year. On a GAAP basis, operating profit margin was 19.1% in the first quarter of fiscal year 2008, compared to 20.4% in the prior-year quarter.
Webcast Conference Call
Varian, Inc. will be providing a live webcast (in listen-only mode) of its investor conference call to review its first quarter results later today, January 23, 2008, at 2:00 p.m. Pacific time. The call may be heard via the Internet by going to http://www.varianinc.com, clicking on the Investors link at the top of the right side of the page, and then clicking on the Live Webcast link.
Non-GAAP (Adjusted) Financial Measures
This press release includes non-GAAP (adjusted) financial measures for cost of sales, selling, general and administrative expenses, research and development expenses, operating earnings, operating profit margins, income tax expense, net earnings and diluted earnings per share. These non-GAAP financial measures exclude share-based compensation expense, acquisition-related intangible and inventory write-up 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 and inventory
write-up amortization provides supplem
|SOURCE Varian, Inc.|
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