Strong demand for new radiation therapy products led to another year of record earnings, sales, net orders and year-ending backlog for Varian Medical Systems Inc.
In FY03, ending Sept. 30, sales increased 19 percent to $1.04 billion, compared with $873.1 million in FY02. Net income escalated 39 percent to $130.9 million, compared with $93.6 million in the previous fiscal year.
Oncology Systems led the way in FY03 with sales of $855.6 million, compared with $724.9 million in FY02. Oncology Systems includes Varian Medical Systems' Clinac accelerators and ancillary products, such as software and services for radiotherapy, and its SmartBeam IMRT (intensity modulated radiation therapy) system.