varian medical systems inc (VAR) Key Developments
Varian Medical Systems, Inc. Provides Earnings Guidance for the Third Quarter of 2015
May 18 15
Varian Medical Systems, Inc. provided earnings guidance for the third quarter of 2015. For the quarter, the company expects to add about $80 million of revenue and, including tax effects, an approximately $0.22 of earnings per diluted share to its previous guidance for the fiscal year 2015, with the vast majority impacting the third quarter.
Varian Medical Systems, Inc. and Câncer de Barretos Enter into Long-Term Agreement Encompassing the Deployment of Advanced Technology
May 5 15
Varian Medical Systems and Hospital de Câncer de Barretos (HCB) in Brazil announced that they have entered into a long-term agreement encompassing the deployment of advanced technology for treating cancer as well as the establishment of a clinical training program at the hospital. HCB will acquire four new radiotherapy treatment systems representing the full spectrum of Varian's technology offerings. A TrueBeam®, Trilogy®, Clinac®, and UNIQUE™ radiotherapy system will be installed over a two year period. The hospital will also upgrade its suite of Varian software, including Eclipse™ and BrachyVision™ for treatment planning and ARIA® for managing oncology information. Varian will also work with the HCB clinical team to establish a clinical school at the hospital, to train clinicians from across Brazil and other countries in Latin America on the use of Varian technology to deliver advanced radiotherapy. The clinical school will be outfitted with a VERT™ virtual simulation and training system that enables doctors, physicists, dosimetrists, and radiation therapists to learn and practice planning and delivering a full range of treatment techniques.
Varian Medical Systems and Sarah Cannon Cancer Network Expand Integrated Technology for Radiation Oncology Program
Apr 30 15
Varian Medical Systems and Sarah Cannon announced a new initiative to upgrade the radiation oncology equipment across the Sarah Cannon Cancer Network of Excellence with newly advanced technology for image-guided, high-precision radiotherapy and radiosurgery. Sarah Cannon will also deploy Varian's new InSightive™ software for data analytics and RapidPlan™ knowledge-based treatment planning software together with Varian's ARIA® information management and Eclipse™ treatment planning software. The software will support Sarah Cannon's programs for using data to develop personalized treatment plans, improve outcomes, and expand clinical trial options for patients. The project is part of a long-term plan for enhancing and expanding radiotherapy and radiosurgery cancer treatment capabilities across the Sarah Cannon Cancer Network of Excellence. Sarah Cannon has access to more than 100,000 newly-diagnosed cancer patients per year and offers integrated cancer services with convenient access to cutting-edge therapies through its network of cancer programs across the United States and United Kingdom.
Varian Medical Systems, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended April 3, 2015; Provides Earnings Guidance for the Third Quarter and Full Year of 2015
Apr 29 15
Varian Medical Systems, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended April 3, 2015. For the quarter, the company reported revenues of $759.4 million compared to $778.5 million a year ago. Operating earnings were $146 million compared to $127.5 million a year ago. Earnings before taxes were $147.1 million compared to $128.1 million a year ago. Net earnings were $106 million or $1.05 per diluted share compared to $92.7 million or $0.88 per diluted share a year ago. Cash flow from operations for the second quarter was $53 million.
For the six months, the company reported revenues of $1,497.3 million compared to $1,490.0 million a year ago. Operating earnings were $275.5 million compared to $269.5 million a year ago. Earnings before taxes were $277.5 million compared to $270.5 million a year ago. Net earnings were $199.3 million or $1.97 per diluted share compared to $190.7 million or $1.79 per diluted share a year ago.
The company believe that for fiscal year 2015 total company earnings will be in the range of $4.02 to $4.14 per diluted share and that revenues will increase by about 1 to 2% in dollars and by about 5% in constant currency. The company now expect that challenges in Imaging Components business, as well as currency headwinds, will more than offset the earnings momentum of the first half. The company estimate that Imaging Components could negatively impact earnings by $0.08 to $0.12 per diluted share. Additionally, since guidance last quarter, the strength of the dollar has diminished earnings expectations by another $0.06 to $0.10 per diluted share.
For the third quarter of fiscal 2015, the company believe total company revenues should be about equal to the prior-year period in dollars and up about 4% in constant currency. Net earnings per diluted share for the third quarter could be in the range of $0.90 to $0.94 per diluted share. The outlook for the third quarter and full fiscal year 2015 excludes any impact of proton orders not yet booked into backlog.
Vinmec Selects Varian Medical's Image-Guided Radiotherapy System
Apr 29 15
Vinmec International Hospital has selected Varian Medical Systems, Inc., for its ClinacA iX medical linear accelerator, a new image-guided radiotherapy system. The Clinac iX system enables the hospital to deliver intensity-modulated radiotherapy (IMRT), image-guided radiotherapy (IGRT), and some forms of stereotactic body radiotherapy (SBRT). Equipped with Varian's RapidArcA technology, the new accelerator can deliver treatments quickly so that more patients have access to these modern treatment techniques. The clinic is also using Varian's Eclipsea, treatment planning software to target tumors precisely while protecting surrounding healthy tissue. Early treatments at the hospital are focusing on thoracic cancers, gynecological cancers, head & neck cancers, prostate cancers, and localized lymphoma.