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Varian Medical Systems Reports Results for Third Quarter of Fiscal Year 2014
Date:7/23/2014

quarter, gross orders were about even in North America and down 2 percent outside North America.  Markets outside North America represented 54 percent of Oncology gross orders for the quarter. 

"Gross orders in Oncology Systems rose strongly in several emerging markets including Latin America, China, and Eastern Europe helping to partially offset weakness in Japan as well as UK where there were tough year-ago comparisons," Wilson said.  "Oncology services continued double digit gross order growth in the quarter, and were up 13 percent for the first three quarters."

Imaging Components Imaging Components' third quarter revenues totaled $162 million, up 2 percent from the year-ago quarter and third quarter gross orders were also $162 million, up 12 percent from the year-ago quarter.

"Our X-ray tube and flat panel product lines each generated robust double-digit gross order growth during the quarter," Wilson said.  "X-ray tube revenues declined during the quarter as improvements in the quality and operating life of our tubes enabled customers to lower inventory levels.
Panels revenues grew by more than 10 percent with healthy demand from a broad spectrum of customers."

OtherThe company's Other category, including the Varian Particle Therapy business and the Ginzton Technology Center, recorded third quarter revenues of $8 million, up 15 percent versus the year-ago quarter.  Gross orders for the Other category were $57 million for the third quarter, including an order for a ProBeam proton therapy system at the National Taiwan University in Taipei. 

Outlook "Our fourth quarter revenue and EPS guidance range is tied to the timing of our proton therapy projects," said Wilson.  "We expect total company revenues for the fourth quarter of fiscal year 2014 to increase in the range of 7 to 15 percent and we expect net earnings per diluted share for the fourth quarter to be in the range of $1.14 to $1.29."
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