Varian Q3 sales show uptick

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Radiation therapy device developer Varian reported that revenues for the third quarter of fiscal year 2007 (end-June 29) from the third quarter of fiscal year 2006 (end-June 30), driven by solid growth in sales of Scientific Instruments products for industrial applications, according to the Palo Alto, Calif.-based company.

Revenues were $227.1 million in the third quarter of fiscal year 2007, compared with $209.7 million in the third quarter of fiscal year 2006. Demand was strong within Europe, Asia Pacific, and Latin America, and while still soft, North America showed sequential improvement, Varian said.

Adjusted net earnings for the third quarter increased 7.1 percent to $19 million compared with the $17.7 million in adjusted net earnings posted in the third quarter of 2006. The company increased its guidance for fiscal year 2007; adjusted diluted earnings per share are now expected to be $2.44 to $2.52 for the current fiscal year, compared with the firm’s prior guidance of $2.40 to $2.50 for 2007.