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Varian Medical Systems Reports Results for Fourth Quarter of Fiscal Year 2010
Date:10/28/2010

pany's margins for the fourth quarter, but margins were up for the year."

The company ended the fiscal year with $520 million in cash and cash equivalents and $43 million of debt. During the fourth quarter, the company spent $255 million to repurchase 4.8 million shares of common stock, including an accelerated buyback of 3.9 million shares.  The company ended the quarter with accounts receivable days sales outstanding of 82, an increase of one day from the year-ago quarter.

Oncology SystemsOncology Systems' fourth quarter revenues totaled $512 million, down 3 percent from the same period of fiscal year 2009.  Oncology revenues for fiscal year 2010 were $1.9 billion, up 4 percent from fiscal year 2009.  Fourth-quarter net orders were $657 million, up 15 percent, with a 24 percent gain in North America and a 7 percent increase in international markets.  Net orders for the fiscal year rose to $2.1 billion, up 10 percent from the last fiscal year, with a 4 percent gain in North America and a 16 percent increase in international markets.  

"Customers placed more than 60 orders for our TrueBeam radiotherapy and radiosurgery system during the quarter, bringing cumulative orders for this exciting new product to more than 125 units since its introduction in the second quarter of this year," said Guertin.  "TrueBeam together with RapidArc helped to stimulate a recovery in the North American oncology market.  Service added to growth for Oncology Systems and it now represents nearly 30 percent of annual orders and revenue for this business."

X-Ray ProductsFourth quarter revenues for the X-Ray Products business were $107 million, up 16 percent from the year-ago quarter, and revenues for fiscal year 2010 were $403 million, up 22 percent from the prior year.  Compared to the corresponding periods in fiscal year 2009, X-Ray Products' fourth quarter net orders rose 15 percent to $112 million, and fisca
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SOURCE Varian Medical Systems
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