Please wait while we load the requested 10-Q report or click the link below:
https://last10k.com/sec-filings/report/203527/000020352720000008/var-20200103.htm
SEC Filings
VAR Annual Reports
10-K Annual Report November 2020
10-K Annual Report November 2019
10-K Annual Report November 2018
10-K Annual Report November 2017
10-K Annual Report November 2016
10-K Annual Report November 2015
10-K Annual Report November 2014
10-K Annual Report November 2013
10-K Annual Report November 2012
10-K Annual Report November 2011
10-K Annual Report November 2020
10-K Annual Report November 2019
10-K Annual Report November 2018
10-K Annual Report November 2017
10-K Annual Report November 2016
10-K Annual Report November 2015
10-K Annual Report November 2014
10-K Annual Report November 2013
10-K Annual Report November 2012
10-K Annual Report November 2011
VAR Quarterly Reports
VAR Corporate News
Bylaw Change
Change in Assets
Change in Control
Ending Agreement
Event for Officers
Financial Exhibit
Listing Status
Security Holders Change April 2021
Event for Officers
Financial Exhibit April 2021
Event for Officers March 2021
Event for Officers
Financial Exhibit
Regulated Disclosure March 2021
Earnings Release
Financial Exhibit January 2021
Event for Officers
Financial Exhibit November 2020
Other Events November 2020
Earnings Release
Financial Exhibit October 2020
Other Events October 2020
Financial Exhibit
Other Events
Vote of Security Holders October 2020
Bylaw Change
Change in Assets
Change in Control
Ending Agreement
Event for Officers
Financial Exhibit
Listing Status
Security Holders Change
Change in Assets
Change in Control
Ending Agreement
Event for Officers
Financial Exhibit
Listing Status
Security Holders Change
April 2021
Event for Officers
Financial Exhibit
Financial Exhibit
April 2021
Event for Officers
March 2021
Event for Officers
Financial Exhibit
Regulated Disclosure
Financial Exhibit
Regulated Disclosure
March 2021
Earnings Release
Financial Exhibit
Financial Exhibit
January 2021
Event for Officers
Financial Exhibit
Financial Exhibit
November 2020
Other Events
November 2020
Earnings Release
Financial Exhibit
Financial Exhibit
October 2020
Other Events
October 2020
Financial Exhibit
Other Events
Vote of Security Holders
Other Events
Vote of Security Holders
October 2020
Last10K.com | 10-Q Quarterly Report Tue Feb 11 2020
Investor Relations Contact
Anshul Maheshwari
Vice President, Treasury and 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 First Quarter of Fiscal Year 2020
First Quarter 2020 Summary
•Oncology Systems gross orders grew 8% in dollars or 9% in constant currency in the quarter and over the trailing twelve months
•Total company revenues grew 12% in dollars, or 13% in constant currency, to $829 million; organic revenues grew 8%(1)
•GAAP operating earnings declined 1% at 13.3% of revenues; non-GAAP operating earnings grew 13% at 16.2% of revenues
•GAAP net earnings per diluted share of $0.96; non-GAAP net earnings per diluted share of $1.16
•No change to fiscal year 2020 guidance
(1) Excludes the year-over-year impact of foreign exchange and growth from our CTSI and Interventional Solutions businesses
PALO ALTO, Calif. - January 29, 2020 - Varian (NYSE: VAR) today announced its first quarter fiscal year 2020 results.
“In the first quarter, our business fundamentals remained strong and our team delivered solid results with double-digit revenue growth in our Oncology Systems business driven by strong software and services revenue growth” said Dow Wilson, Chief Executive Officer of Varian. “We continue to make planned investments across the portfolio to scale our global sales and operations infrastructure as we execute on our long-term growth and value creation strategy.”
The following information was filed by Varian Medical Systems Inc (VAR) on Wednesday, January 29, 2020 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 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.
Assess how Varian Medical Systems Inc's management team is paid from their Annual Proxy
Varian Medical Systems Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
- Voting Procedures
- Board Members
- Executive Team
- Salaries, Bonuses, Perks
- Peers / Competitors
SEC Filing Tools
Rating
Learn More
Filter Sentiment:
Filter Category:
Filter Subcategory:
-
Revenue - Product Highlight
Cash, Cash Equivalents, and Restricted Cash The following table summarizes our cash, cash equivalents, and restricted cash: The increase in cash, cash equivalents, and restricted cash in the three months ended January 3, 2020 was primarily due to $132.0 million in net borrowings from our credit facility, $112.6 million of cash provided by operating activities, $19.7 million in proceeds from the issuance of common stock to employees, and $9.2 million in proceeds from the sale of an equity investment, partially offset by $43.8 million used for the repurchase of shares of VMS common stock, $22.6 million used for purchases of property, plant, and equipment, and $3.6 million used for tax withholdings on vesting of equity awards.
-
Financial - Earnings Highlight
Oncology Systems service gross margin percentage increased in the three months ended January 3, 2020, compared to the year-ago period, primarily due to an increase in service revenues.
-
Other - Other Highlight
Actual results and the outcome or timing of certain events may differ significantly from those projected in these forward-looking statements or management's current expectations due to the factors cited in this "Management's Discussion and Analysis of Financial Condition and Results of Operations" ("MD&A"), the Risk Factors listed under Part II, Item 1A of this Quarterly Report on Form 10-Q, and other factors described from time to time in our other filings with the Securities and Exchange Commission ("SEC"), or other reasons.
-
Other - Other Highlight
This discussion and analysis of our financial condition and results of operations is based upon and should be read in conjunction with the Condensed Consolidated Financial Statements and the Notes included elsewhere in this Quarterly Report on Form 10-Q and the Consolidated Financial Statements, the Notes to the Consolidated Financial Statements and the related Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended September 27, 2019 (the "2019 Annual Report"), as well as the information contained under Part I, Item 1A "Risk Factors" of the 2019 Annual Report and Part II, Item 1A "Risk Factors" of this Quarterly Report on Form 10-Q , and other information provided from time to time in our other filings with the SEC.
-
Revenue - Product Highlight
Approximately half of Oncology Systems gross orders and revenues come from international markets, within which certain emerging markets typically can have lower gross margins and longer installation cycles since many of these purchases are for new sites where treatment vaults need to be constructed.
-
Other - Other
Our critical accounting policies that...Read more
-
Financial - Earnings
We have also been investing...Read more
-
Other - Other
In addition, government programs that...Read more
-
Financial - Expense
While we believe that improved...Read more
-
Financial - Income
Other income, net, decreased in...Read more
-
Revenue - Product
Total service revenues increased in...Read more
-
Revenue - Product
?Inventory increasing $44.9 million primarily...Read more
-
Other - Other
Overall, we believe the global...Read more
-
Other - Other
Except for losses related to...Read more
-
Other - Other
We expect that fluctuations of...Read more
-
Other - Other
Our long-term growth and value...Read more
-
Revenue - Geography
We have entered into indemnification...Read more
-
Revenue - Product
Days Sales Outstanding Our Oncology...Read more
-
Financial - Shares
In the three months ended...Read more
-
Revenue - Product
Oncology Systems service revenues, which...Read more
-
Financial - Income
Other Income, Net Interest income...Read more
-
Financial - Earnings
Gross Margin n/m - not...Read more
-
Other - Other
Our primary goal in the...Read more
-
Financial - Shares
Stock repurchases may be made...Read more
-
Revenue - Geography
Oncology Systems gross orders are...Read more
-
Revenue - Geography
Americas Oncology Systems revenues increased...Read more
-
Revenue - Product
EMEA Oncology Systems revenues increased...Read more
-
Revenue - Product
New orders are recorded for...Read more
-
Other - Other
Credit markets for proton therapy...Read more
-
Revenue - Product
Oncology Systems Revenues Oncology Systems...Read more
-
Other - Other
Forward-Looking Statements This Quarterly Report...Read more
-
Revenue - Product
?Deferred revenues increasing $57.4 million...Read more
-
Financial - Shares
Borrowings under our credit facilities...Read more
-
Financial - Expense
Although proton therapy has been...Read more
-
Other - Other
By making forward-looking statements, we...Read more
-
Other - Other
Reimbursement rates in the United...Read more
-
Financial - Earnings
41 Diluted Net Earnings Per...Read more
-
Other - Other
The trailing 12 months' growth...Read more
-
Other - Other
As of January 3, 2020,...Read more
-
Revenue - Product
35 Currency fluctuations had approximately...Read more
-
Other - Other
36 We are investing resources...Read more
-
M & A - Other
Acquisition-related expenses increased in the...Read more
-
Financial - Expense
In our view, the fundamental...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Earnings
Condensed Consolidated Statements Of Comprehensive Earnings (Parenthetical)
Condensed Consolidated Statements Of Earnings
Condensed Consolidated Statements Of Equity Statement
Borrowings
Borrowings (Tables)
Borrowings - Additional Information (Detail)
Borrowings - Schedule Of Debt (Details)
Business Combinations
Business Combinations (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Accrued Product Warranty (Detail)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Leases (Details)
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 - 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 - 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
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Adjustments From Amounts Previously Reported (Details)
Material Contracts, Statements, Certifications & more
Varian Medical Systems Inc provided additional information to their SEC Filing as exhibits
Ticker: VAR
CIK: 203527
Form Type: 10-Q Quarterly Report
Accession Number: 0000203527-20-000008
Submitted to the SEC: Tue Feb 11 2020 4:58:54 PM EST
Accepted by the SEC: Tue Feb 11 2020
Period: Friday, January 3, 2020
Industry: Electromedical And Electrotherapeutic Apparatus
External Resources:
Stock Quote
Social Media
SEC.gov
Bookmark the Permalink: https://last10k.com/sec-filings/var/0000203527-20-000008.htm
SEC Filing Exhibit
PDF Download
Loading SEC Filing Exhibit...
Excel DownloadLoading SEC Filing Financial Summary...