Varian Medical Systems posts Q1 growth across all three business segments

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Thirty-three percent sales growth in its Oncology Systems business propelled Varian Medical Systems Inc. to what the company described as a "robust quarter" in its first fiscal quarter of FY04, ending Dec. 31, 2003.

Sales rose to $267 million, a gain of 29 percent over the first quarter of FY03. Net earnings increased to $29 million, compared with $21 million in the year-ago quarter.

Oncology Systems sales of its Clinac linear accelerators and ancillary products, as well as software and services for radiotherapy, totaled $220.8 million in the first quarter, compared with $165.9 million in the first quarter of FY03.

Sales in Varian's X-Ray Products business advanced 9 percent to $37 million, compared with $34 million in the year-ago quarter.

Varian's Ginzton Technology Center and Brachytherapy business recorded combined sales of $9 million, up $2 million from the year-ago quarter.