Last10K.com

Varian Medical Systems Inc (VAR) SEC Filing 10-K Annual report for the fiscal year ending Friday, September 30, 2011

SEC Filings

Varian Medical Systems Inc

CIK: 203527 Ticker: VAR

Exhibit 99.1

 
FOR INFORMATION CONTACT:
Elisha Finney (650) 424-6803
elisha.finney@varian.com

Spencer Sias (650) 424-5782
spencer.sias@varian.com


For Immediate Release:


Varian Medical Systems Reports Results for Fourth Quarter of Fiscal Year 2011

Net earnings per diluted share from continuing operations rise to $0.95 for the fourth quarter and to $3.44 for fiscal year 2011; Revenues rise to $719 million for the fourth quarter and to $2.6 billion for the fiscal year

PALO ALTO, Calif., Oct. 27, 2011
– Varian Medical Systems (NYSE:VAR) today is reporting net earnings from continuing operations of $0.95 per diluted share in the fourth quarter of fiscal year 2011, up 9 percent from $0.87 in the year-ago quarter.  Net earnings per diluted share from continuing operations for fiscal year 2011 climbed to $3.44, up 16 percent from $2.96 in fiscal year 2010.  Including a charge for discontinued operations, net earnings were $0.87 per diluted share for the fourth quarter and $3.36 for the fiscal year.

Varian’s company-wide revenues totaled $719 million for the fourth quarter of fiscal 2011 and $2.6 billion for the full fiscal year, each up 10 percent from the comparable periods in fiscal year 2010. The company ended fiscal year 2011 with a $2.5 billion backlog, up 15 percent from the end of fiscal year 2010.

“Our core businesses in Oncology Systems and X-Ray Products ended the fiscal year on a solid footing with healthy growth in their revenues, net orders and backlogs,” said Tim Guertin, president and CEO of Varian Medical Systems.  “Our Varian Particle Therapy business booked a proton therapy equipment order in the quarter.  Profit margins were down moderately for the quarter as we began to book revenue for the proton project.  Compared to fiscal 2010, the company’s 2011 gross margin increased and the operating margin was flat.”

The company ended the fiscal year with $564 million in cash and cash equivalents and $198 million of debt. During the fourth quarter, the company spent $267 million to repurchase 4.8 million shares of common stock, including an accelerated buyback of 3.8 million shares.  The company ended the quarter with accounts receivable days sales outstanding of 80, an improvement of two days from the year-ago quarter.

-- more --
 
 
 

The following information was filed by Varian Medical Systems Inc (VAR) on Thursday, October 27, 2011 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year 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-K Annual 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 2011 10-K Annual Report includes:

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

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Earnings
Consolidated Statements Of Stockholders' Equity And Comprehensive Earnings
Consolidated Statements Of Stockholders' Equity And Comprehensive Earnings (parenthetical)
Balance Sheet Components
Balance Sheet Components (schedule Of Balance Sheet Components) (details)
Balance Sheet Components (schedule Of Short-term Investment) (details)
Balance Sheet Components (tables)
Business Combinations
Business Combinations (details)
Commitments And Contingencies
Commitments And Contingencies (narrative) (details)
Commitments And Contingencies (schedule Of Accrued Product Warranty) (details)
Commitments And Contingencies (schedule Of Reserve For Future Environmental Costs) (details)
Commitments And Contingencies (tables)
Credit Facilities
Credit Facilities (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (effective Portion Of The Foreign Currency Forward Contracts Designated As Cash Flow Hedges) (details)
Derivative Instruments And Hedging Activities (fair Values Of Derivative Instruments Reported On The Consolidated Balance Sheet) (details)
Derivative Instruments And Hedging Activities (gains (losses) Related To The Foreign Currency Forward Exchange Contracts That Are Not Designated As Hedging Instruments) (details)
Derivative Instruments And Hedging Activities (ineffective Portion Of The Cash Flow Hedges And Amount Excluded From Effectiveness Testing Of The Cash Flow Hedges) (details)
Derivative Instruments And Hedging Activities (narrative) (details)
Derivative Instruments And Hedging Activities (outstanding Foreign Currency Forward Contracts That Were Entered Into To Hedge Forecasted Revenues) (details)
Derivative Instruments And Hedging Activities (outstanding Foreign Currency Forward Contracts That Were Not Designated As Hedging Instruments As Of The Balance Sheet Date) (details)
Derivative Instruments And Hedging Activities (tables)
Discontinued Operations
Discontinued Operations (details)
Employee Stock Plans
Employee Stock Plans (activity For Restricted Stock, Restricted Stock Units And Deferred Stock Units) (details)
Employee Stock Plans (activity Of Employee Stock Plans) (details)
Employee Stock Plans (narrative) (details)
Employee Stock Plans (options Outstanding And Exercisable) (details)
Employee Stock Plans (schedule Of Share-based Compensation Expense) (details)
Employee Stock Plans (tables)
Employee Stock Plans (weighted Average Assumptions For Employee Stock Plans And Employee Stock Purchase Plan) (details)
Fair Value
Fair Value (assets And Liabilities Measured At Fair Value On A Recurring Basis) (details)
Fair Value (reconciliation For Assets And Liabilities Measured And Recorded At Fair Value On A Recurring Basis) (details)
Fair Value (tables)
Financing Receivables And Allowance For Credit Losses
Financing Receivables And Allowance For Credit Losses (details)
Financing Receivables And Allowance For Credit Losses (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (activity Of Goodwill By Reportable Operating Segment) (details)
Goodwill And Intangible Assets (gross Carrying Amount And Accumulated Amortization Of Intangible Assets) (details)
Goodwill And Intangible Assets (narrative) (details)
Goodwill And Intangible Assets (tables)
Long-term Debt
Long-term Debt (details)
Long-term Debt (tables)
Quarterly Financial Data
Quarterly Financial Data (schedule Of Quarterly Financial Data) (details)
Quarterly Financial Data (tables)
Related Party Transactions
Related Party Transactions (details)
Retirement Plans
Retirement Plans (narrative) (details)
Retirement Plans (schedule Of Accumulated Other Comprehensive Income Loss) (details)
Retirement Plans (schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss (before Tax)) (details)
Retirement Plans (schedule Of Assumed Healthcare Cost Trend Rates For Post-retirement Benefit Plan) (details)
Retirement Plans (schedule Of Assumptions Used To Determine Net Periodic Benefit Cost And To Compute Expected Long-term Return On Assets) (details)
Retirement Plans (schedule Of Assumptions Used To Measure Benefit Obligations For Company's Defined Benefit Pension And Post Retirement Benefit Plans) (details)
Retirement Plans (schedule Of Defined Benefit Pension Plan Balances With Accumulated Benefit Obligation Exceeded Fair Value Of Plan Assets) (details)
Retirement Plans (schedule Of Estimated Future Benefit Payments) (details)
Retirement Plans (schedule Of Fair Values Of Plan Assets) (details)
Retirement Plans (schedule Of Funded Status Of The Defined Benefit Pension And Post-retirement Benefit Plans) (details)
Retirement Plans (schedule Of Net Periodic Benefit Costs) (details)
Retirement Plans (tables)
Segment Information
Segment Information (geographic Information) (details)
Segment Information (narrative) (details)
Segment Information (operating Results Information For Each Business Segment) (details)
Segment Information (reconciliation Of Segment Operating Results To Company's Earnings From Continuing Operations Before Taxes) (details)
Segment Information (tables)
Stockholders' Equity
Stockholders' Equity (narrative) (details)
Stockholders' Equity (schedule Of Accumulated Other Comprehensive Loss) (details)
Stockholders' Equity (tables)
Subsequent Event
Subsequent Event (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (computation Of Net Basic And Diluted Earnings Per Share) (details)
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policy)
Summary Of Significant Accounting Policies (tables)
Taxes On Earnings
Taxes On Earnings (narrative) (details)
Taxes On Earnings (schedule Of Changes In Unrecognized Tax Benefits) (details)
Taxes On Earnings (schedule Of Components Of Deferred Tax Assets And Liabilities) (details)
Taxes On Earnings (schedule Of Earnings From Continuing Operations Before Taxes) (details)
Taxes On Earnings (schedule Of Effective Income Tax Rate) (details)
Taxes On Earnings (schedule Of Income Taxes Paid) (details)
Taxes On Earnings (schedule Of Taxes On Earnings From Continuing Operations) (details)
Taxes On Earnings (tables)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (schedule Of Valuation And Qualifying Accounts Disclosure) (details)
Valuation And Qualifying Accounts (tables)
Variable Interest Entity
Variable Interest Entity (details)
Ticker: VAR
CIK: 203527
Form Type: 10-K Annual Report
Accession Number: 0001193125-11-321337
Submitted to the SEC: Wed Nov 23 2011 5:03:27 PM EST
Accepted by the SEC: Wed Nov 23 2011
Period: Friday, September 30, 2011
Industry: Electromedical And Electrotherapeutic Apparatus

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/var/0001193125-11-321337.htm