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Varian, Inc. Reports Second Quarter 2009 Results
Date:4/29/2009

arter of 2009. On a GAAP basis, second quarter 2009 diluted earnings per share were $0.35, compared to $0.45 in the prior quarter. Second quarter 2009 adjusted operating profit margin was 11.8%, an increase of 40 basis points compared to the 11.4% reported in the first quarter of 2009. On a GAAP basis, second quarter 2009 operating profit margin was 7.5%, compared to 9.6% in the prior quarter.

"We are encouraged by the stability reflected in the sequential results, with essentially flat revenues and profitability on an adjusted basis," said Rogerson. "Looking forward, the diversity of our products, the applications we serve and our worldwide distribution position us well. There are a few positive signs for the future, including governmental spending initiatives, a global focus on environmental, food and product testing, and investments in alternative energies such as solar, nuclear and biofuels. We believe that our strategy is sound, but will remain vigilant with respect to the economic situation, making the appropriate decisions to maintain solid profitability and cash flow through this very difficult period and position ourselves for profitable growth with the economic recovery."

For a complete reconciliation of non-GAAP (adjusted) financial information used in this press release to the most directly comparable GAAP financial information, please refer to the attached Reconciliations of GAAP to Adjusted Results, Actual.

Results by Segment

Scientific Instruments revenues for the second quarter of 2009 were $170.9 million, a decrease of 16.4% from the second quarter of the prior year. Adjusted operating profit margin was 12.0% in the second quarter of 2009, compared to 12.3% in the second quarter of the prior year. On a GAAP basis, operating profit margin was 7.3% in the second quarter of 2009, compared to 11.0% in the same quarter a year ago.

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SOURCE Varian, Inc.
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