Last10K.com

Varian Medical Systems Inc (VAR) SEC Filing 10-Q Quarterly report for the period ending Friday, June 28, 2019

Varian Medical Systems Inc

CIK: 203527 Ticker: VAR


Investor Relations Contact
J. Michael Bruff
Senior Vice President, Investor Relations
+1 (650) 424-5163
investors@varian.com

Press Contact
Mark Plungy
Director, Public Relations
+1 (650) 424-5630
mark.plungy@varian.com
FOR IMMEDIATE RELEASE
Varian Reports Results for Third Quarter of Fiscal Year 2019

Third Quarter 2019 Summary
Oncology Systems gross orders grew 2% in dollars, or 4% in constant currency; Trailing twelve months gross orders grew 11% in dollars, or 13% in constant currency
Total company revenues grew 16% in dollars, or 19% in constant currency, to $826 million
GAAP operating earnings declined 48% at 6.5% of revenues; Non-GAAP operating earnings grew 22% at 17.5% of revenues
GAAP net earnings per diluted share of $0.32; Non-GAAP net earnings per diluted share of $1.32
GAAP net earnings include a $51 million impairment charge to Proton Solutions goodwill and $31 million in acquisition related costs
US/China tariffs negatively impacted revenue growth by $10 million or 140 basis points and GAAP operating earnings growth by $15 million and as a percentage of revenues by 170 basis points
Updating fiscal year 2019 guidance; raising revenue growth range to 9% to 10% and narrowing Non-GAAP net earnings per diluted share range to $4.58 to $4.63
Closed the acquisitions of CyberHeart, Cancer Treatment Services International, Endocare, and Alicon    

PALO ALTO, Calif. - July 24, 2019 -
Varian (NYSE: VAR) today announced its third quarter fiscal year 2019 results.

“In the third quarter, our team delivered exceptional performance growing Non-GAAP operating earnings faster than revenue,” said Dow Wilson, Chief Executive Officer of Varian. “We are also excited about the progress we made in the quarter toward our long-term strategy with additions to our portfolio in technology-enabled services, interventional oncology, and cardiac radioablation.”




The following information was filed by Varian Medical Systems Inc (VAR) on Wednesday, July 24, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Varian Medical Systems Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Varian Medical Systems Inc.

Continue

Assess how Varian Medical Systems Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Varian Medical Systems Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Revenue
Financial
M & A
Legal
Other
Filter Subcategory:
All
Product
Earnings
Cash Flow
Geography
Expense
Income
Shares
Debt
Other
Inside Varian Medical Systems Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Equity Statement
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Earnings
Condensed Consolidated Statements Of Comprehensive Earnings (Parenthetical)
Condensed Consolidated Statements Of Earnings
Business Combinations
Business Combinations (Details)
Business Combinations - Purchase Price Allocation (Details)
Business Combinations - Valuation Of Intangible Assets Acquired (Details)
Business Combinations Business Combinations (Tables)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Accrued Product Warranty (Detail)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Lessor Arrangements (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Cash Flow Hedging Activities (Details)
Derivative Instruments And Hedging Activities - Derivative Instruments Reported On The Balance Sheet (Details)
Derivative Instruments And Hedging Activities - Effective Portion Of Foreign Currency Forward Contracts Designated As Cash Flow Hedges (Detail)
Derivative Instruments And Hedging Activities - Gains (Losses) Related To Foreign Currency Forward Exchange Contracts That Are Not Designated As Hedging Instruments (Detail)
Derivative Instruments And Hedging Activities - Outstanding Foreign Currency Forward Contracts That Were Entered Into To Hedge Balance Sheet Exposures (Detail)
Derivative Instruments And Hedging Activities - Pre-Tax Amounts Recognized In Aoci On The Balance Sheet (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Computation Of Net Basic And Diluted Earnings Per Share (Detail)
Employee Stock Plans
Employee Stock Plans (Tables)
Employee Stock Plans - Activity For Restricted Stock, Restricted Stock Units, Deferred Stock Units And Performance Units (Detail)
Employee Stock Plans - Activity Under Employee Stock Plans (Detail)
Employee Stock Plans - Additional Information (Detail)
Employee Stock Plans - Fair Value With Weighted Average Assumptions (Detail)
Employee Stock Plans - Net Share-Based Compensation Expense (Detail)
Fair Value
Fair Value (Tables)
Fair Value - Additional Information (Detail)
Fair Value - Assets And Liabilities Measured At Fair Value On Recurring Basis (Detail)
Fair Value - Reconciliation For Assets And Liabilities Measured And Recorded At Fair Value On Recurring Basis (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Activity Of Goodwill By Reportable Operating Segment (Detail)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Future Amortization Expense (Details)
Goodwill And Intangible Assets - Gross Carrying Amount And Accumulated Amortization Of Intangible Assets (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Other Financial Information
Other Financial Information (Tables)
Other Financial Information - Cash, Cash Equivalents And Restricted Cash (Details)
Other Financial Information - Components Of Inventories (Detail)
Other Financial Information - Components Of Other Long-Term Liabilities (Detail)
Other Financial Information - Other Income, Net (Details)
Other Financial Information - Short-Term Borrowings (Details)
Other Financial Information - Unbilled Receivables And Deferred Revenues From Contracts With Customers (Details)
Other Financial Information - Unfulfilled Performance Obligations (Details)
Proton Solutions Loans And Investments
Proton Solutions Loans And Investments (Tables)
Proton Solutions Loans And Investments - Additional Information (Detail)
Proton Solutions Loans And Investments - Loans And Commitments (Details)
Receivables
Receivables (Details)
Receivables (Tables)
Retirement Plans
Retirement Plans (Tables)
Retirement Plans - Additional Information (Detail)
Retirement Plans - Schedule Of Net Periodic Benefit Costs (Detail)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Detail)
Segment Information - Disaggregation Of Revenue (Details)
Segment Information - Operating Results Information For Each Reportable Segment (Detail)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Detail)
Stockholders' Equity - Schedule Of Accumulated Other Comprehensive Earnings (Loss) And Related Tax Effects (Detail)
Stockholders' Equity - Schedule Of Amounts Reclassified Out Of Other Comprehensive Earnings (Detail)
Stockholders' Equity - Shares Repurchased During Period (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Adjustments From Amounts Previously Reported (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables)
Ticker: VAR
CIK: 203527
Form Type: 10-Q Quarterly Report
Accession Number: 0000203527-19-000017
Submitted to the SEC: Wed Aug 07 2019 1:04:23 PM EST
Accepted by the SEC: Wed Aug 07 2019
Period: Friday, June 28, 2019
Industry: Electromedical And Electrotherapeutic Apparatus

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/var/0000203527-19-000017.htm