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Varian Medical Systems Reports Results for Third Quarter of Fiscal Year 2013
Date:7/24/2013

orders in double digits outside North America, with particular strength in China, Japan, Poland, Turkey and the UK," said Wilson.  "The North American oncology market experienced slower capital spending amid reimbursement and healthcare reform concerns."

X-Ray Products
Third quarter revenues for the X-Ray Products business totaled $135 million, up 7 percent from the year-ago quarter, and net orders were $123 million, up 2 percent from the year-ago quarter.

"Decisions by our X-ray tube customers in Japan to reduce inventory levels offset double-digit revenue growth in our flat panel business," said Wilson.  "The X-Ray Products business did a good job offsetting gross margin pressures with tight cost controls.  Year to date, orders, revenues and profits are all up in double digits for this business." 

Other
The company's Other category, which includes the Security and Inspection Products business and the Varian Particle Therapy business, recorded third quarter revenues of $30 million, down 8 percent from the year-ago quarter.  Third quarter net orders for the Other category were $22 million, up $14 million from the year-ago period.Outlook
"We remain confident in the strength of our core businesses," said Wilson. "However, the sharp decline in the Yen as well as uncertain timing of revenues from a proton therapy project in Maryland that has not completed its financing are leading us to adjust our expectations for the balance of the year. We now believe that for fiscal year 2013, total company revenues could increase by about 5 percent over the fiscal year 2012 total. Net earnings per diluted share for fiscal year 2013 could be in the range of $4.00 to $4.04."

Investor Conference Call
Varian Medical Systems is scheduled to conduct its third quarter fiscal year 2013 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
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SOURCE Varian Medical Systems
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