Varian Medical Systems Reports Results for Second Quarter of Fiscal...(nd recognized an $11.5 million loss net ...),Health

Outlook

"Our outlook for the balance of the fiscal year is more cautious due to tighter capital budgets and credit, currency fluctuations, a longer order-to-delivery cycle in Oncology, and weaker demand for X-ray products," Guertin said. "We now believe that fiscal year 2009 revenues from continuing operations could grow by about 5 to 8 percent. With the help of cost control measures that the company has put in place for fiscal year 2009 and beyond, we believe that net earnings per diluted share from continuing operations for the fiscal year could grow to between $2.50 and $2.60 compared to $2.31 from continuing operations in last fiscal year. For the third quarter of fiscal year 2009, revenues could grow in the range of 5 to 7 percent, with higher growth in operating earnings. Including a higher expected tax rate and lower interest income, third quarter net earnings per diluted share from continuing operations should be in the range of $0.61 to $0.65."

Investor Conference Call

Varian Medical Systems is scheduled to conduct its second quarter fiscal year 2009 conference call at 2 p.m. PT today. To hear a live webcast or replay of the call, visit the investor relations page on the company's web site at www.varian.com where it will be archived for a year. To access the call via telephone, dial 1-800-659-2037 from inside the U.S. or 1-617-614-2713 from outside the U.S. and enter confirmation code 66725913. The replay can be accessed by dialing 1-888-286-8010 from inside the U.S. or 1-617-801-6888 from outside the U.S. and entering confirmation code 11191883. The telephone replay will be available through 5 p.m. PT, Friday, May 1, 2009.

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