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

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Spencer Sias (650) 424-5782
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A summary of earnings and other financial information follows.Varian Medical Systems, Inc. and Subsidiaries Condensed Consolidated Statements of Earnings

 (Unaudited)(Dollars and shares in millions, except per share amounts)Q3 QTR2013Q3 QTR2012Q3 YTD2013Q3 YTD2012Net orders

$

726.5689.42,081.52,158.3  Oncology Systems582.0562.01,614.01,611.5  X-Ray Products122.7120.1399.6360.3  Other21.87.367.9186.5Order backlog

$

2,752.82,636.92,752.82,636.9Revenues

$

726.2705.32,173.02,050.9  Oncology Systems561.3546.41,667.41,599.4  X-Ray Products135.3126.7408.6362.5  Other29.632.297.089.0Cost of revenues

$

415.7397.71,251.81,177.8Gross margin310.5307.6921.2873.1  As a percent of revenues42.8%43.6%42.4%42.6%Operating expenses  Research and development  53.448.9151.4139.8  Selling, general and administrative  102.4105.1321.9307.0Operating earnings 154.7153.6447.9426.3  As a percent of revenues21.3%21.8%20.6%20.8%Interest income, net1.10.42.41.1Earnings before taxes155.8154.0450.3427.4Taxes on earnings 43.045.2129.4120.6Net earnings

$

112.8108.8320.9306.8  As a percent of revenues15.5%15.4%14.8%15.0%Net earnings per share – basic

$

1.040.982.952.74 Net earnings per share – diluted

$

1.030.962.902.69Shares used in the calculation of net earnings per share: 
Average shares outstanding - basic108.2111.1108.7111.9Average shares outstanding - diluted109.8112.8110.5114.0Varian Medical Systems, Inc. and SubsidiariesCondensed Consolidated Balance Sheets(In thous
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