Varian Medical Systems (VAR) Misses Q1 EPS by 1c, Revenues Beat; Offers FY19 EPS/Revenue Outlook

Varian Medical Systems (NYSE: VAR) reported Q1 EPS of $1.06, $0.01 worse than the analyst estimate of $1.07. Revenue for the quarter came in at $741 million versus the consensus estimate of $717.83 million.

"In the first quarter, we built on the strong trajectory from last year, bringing our trailing twelve-month orders growth rate to 11%," said Dow Wilson, chief executive officer of Varian. "The team delivered exceptional performance, with accelerating software revenues and overall orders growing double-digits in each of our three geographic regions. We made progress on our strategic growth initiatives, extending our global footprint by securing Halcyon approval in China and expanding our addressable markets by signing two Noona deals with pharmaceutical companies. With a strong start to the year and tariff mitigation activities on track, we are well-positioned to deliver results within our fiscal year 2019 guidance."

GUIDANCE:

Varian Medical Systems sees FY2019 EPS of $4.60-$4.75, versus the consensus of $4.75. Varian Medical Systems sees FY2019 revenue of $3.06-3.15 billion, versus the consensus of $3.1 billion.

For earnings history and earnings-related data on Varian Medical Systems (VAR) click here.

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