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Varian Medical Systems Inc (VAR) SEC Filing 10-Q Quarterly report for the period ending Friday, December 28, 2018

Varian Medical Systems Inc

CIK: 203527 Ticker: VAR

Exhibit 99.1

 

 

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 First Quarter of Fiscal Year 2019

 

 

 

First Quarter 2019 Summary

Oncology gross orders grew 16% in dollars, or 17% in constant currency
Total company revenues grew 9% in dollars, or 10% in constant currency, to $741 million
GAAP operating earnings grew 11% at 18.2% of revenues; Non-GAAP operating earnings declined 5% at 16.2% of revenues
GAAP net earnings per diluted share of $1.12; Non-GAAP net earnings per diluted share of $1.06
Recently enacted US/China tariffs negatively impacted revenues by $8 million and operating earnings by $11 million, generally in line with company expectations
Reaffirming fiscal year 2019 guidance of Non-GAAP net earnings per diluted share range of $4.60 to $4.75

 

 

PALO ALTO, Calif. - January 23, 2019 -

Varian (NYSE: VAR) today announced its first quarter fiscal year 2019 results. All comparisons in this announcement are year-over-year, all quarter and year references are fiscal unless noted otherwise, and any references to orders are gross orders.

 


The following information was filed by Varian Medical Systems Inc (VAR) on Wednesday, January 23, 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.

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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

Document And Entity Information
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 (Loss)
Condensed Consolidated Statements Of Comprehensive Earnings (Loss) (Parenthetical)
Condensed Consolidated Statements Of Earnings (Loss)
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)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Additional Information (Detail)
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)
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 (Expense), 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 - 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
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: 0001628280-19-000970
Submitted to the SEC: Tue Feb 05 2019 11:46:36 AM EST
Accepted by the SEC: Tue Feb 05 2019
Period: Friday, December 28, 2018
Industry: Electromedical And Electrotherapeutic Apparatus

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