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Varian Medical Systems Inc (VAR) SEC Filing 10-Q Quarterly report for the period ending Friday, April 3, 2020

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Varian Medical Systems Inc

CIK: 203527 Ticker: VAR

Investor Relations Contact
Anshul Maheshwari
Vice President, Treasury and Investor Relations
+1 (650) 424-5163
investors@varian.com

Press Contact
Rosemarie Smith-Wood
Sr. Director, Global Brand and Marketing
+1 (650) 424-5208
rosemarie.smith-wood@varian.com
FOR IMMEDIATE RELEASE
Varian Reports Results for Second Quarter of Fiscal Year 2020; Withdraws 2020 Guidance

Second Quarter 2020 Summary
Oncology Systems gross orders grew 1% in dollars or 2% in constant currency in the quarter; trailing twelve months gross orders grew 5% in dollars or 6% in constant currency
15 EthosTM orders received, including 11 in North America, 3 in Europe and 1 in Asia-Pacific
Two Proton orders awarded in Asia-Pacific
Total company revenues grew 2% in dollars, or 3% in constant currency, to $794 million; organic revenues declined 1%(1)
GAAP operating earnings declined 50% at 6.9% of revenues; non-GAAP operating earnings declined 14% at 12.9% of revenues
GAAP net earnings per diluted share of $0.47; non-GAAP net earnings per diluted share of $0.85
The company is withdrawing fiscal year 2020 guidance due to uncertainty surrounding the severity and duration of COVID-19
(1) Excludes the year-over-year impact of foreign exchange rates and growth from CTSI and Interventional Solutions businesses

PALO ALTO, Calif. - May 4, 2020 -
Varian (NYSE: VAR) today announced its second quarter fiscal year 2020 results.

“On behalf of everyone at Varian, I want to express our gratitude to all individuals on the frontlines dedicated to fighting this global pandemic. I also want to thank Varian employees worldwide who


The following information was filed by Varian Medical Systems Inc (VAR) on Monday, May 4, 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.

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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 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 (Details)
Borrowings - Schedule Of Debt (Details)
Business Combinations
Business Combinations (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Accrued Product Warranty (Details)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Leases (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 (Details)
Derivative Instruments And Hedging Activities - Gains (Losses) Related To Foreign Currency Forward Exchange Contracts That Are Not Designated As Hedging Instruments (Details)
Derivative Instruments And Hedging Activities - Outstanding Foreign Currency Forward Contracts That Were Entered Into To Hedge Balance Sheet Exposures (Details)
Derivative Instruments And Hedging Activities - Pre-Tax Amounts Recognized In Aoci On The Balance Sheet (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Stock Plans
Employee Stock Plans (Tables)
Employee Stock Plans - Activity For Restricted Stock, Restricted Stock Units, Deferred Stock Units And Performance Units (Details)
Employee Stock Plans - Activity Under Employee Stock Plans (Details)
Employee Stock Plans - Additional Information (Details)
Employee Stock Plans - Fair Value With Weighted Average Assumptions (Details)
Employee Stock Plans - Net Share-Based Compensation Expense (Details)
Fair Value
Fair Value (Tables)
Fair Value - Additional Information (Details)
Fair Value - Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Fair Value - Reconciliation For Assets And Liabilities Measured And Recorded At Fair Value On Recurring Basis (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Activity Of Goodwill By Reportable Operating Segment (Details)
Goodwill And Intangible Assets - Additional Information (Details)
Goodwill And Intangible Assets - Future Amortization Expense (Details)
Goodwill And Intangible Assets - Gross Carrying Amount And Accumulated Amortization Of Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Other Financial Information
Other Financial Information (Tables)
Other Financial Information - Cash, Cash Equivalents And Restricted Cash (Details)
Other Financial Information - Components Of Inventories (Details)
Other Financial Information - Components Of Other Long-Term Liabilities (Details)
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 (Details)
Proton Solutions Loans And Investments - Loans And Commitments (Details)
Receivables
Receivables (Details)
Receivables (Tables)
Retirement Plans
Retirement Plans (Details)
Retirement Plans (Tables)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Details)
Segment Information - Disaggregation Of Revenue (Details)
Segment Information - Operating Results Information For Each Reportable Segment (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Schedule Of Accumulated Other Comprehensive Earnings (Loss) And Related Tax Effects (Details)
Stockholders' Equity - Schedule Of Amounts Reclassified Out Of Other Comprehensive Earnings (Details)
Stockholders' Equity - Shares Repurchased During Period (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)

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: 0000203527-20-000015
Submitted to the SEC: Tue May 12 2020 4:49:08 PM EST
Accepted by the SEC: Tue May 12 2020
Period: Friday, April 3, 2020
Industry: Electromedical And Electrotherapeutic Apparatus

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