Varian Medical Systems (VAR) Misses Q1 EPS by 30c, Sales Just Shy
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Varian Medical Systems Reports Results for First Quarter of Fiscal Year 2017
January 25, 2017 4:02 PM ESTPALO ALTO, Calif., Jan. 25, 2017 /PRNewswire/ -- Varian Medical Systems (NYSE: VAR) today is reporting GAAP net earnings of $0.22 per diluted share and non-GAAP net earnings of $0.75 per diluted share for the first quarter of fiscal year 2017, including $76 million in charges almost exclusively relating to a proton facility owned by California Proton Treatment Center, LLC (CPTC) in San Diego. These charges and the associated limited tax deductibility reduced Varian earnings in the first quarter of fiscal 2017 by $0.64 per diluted share on a GAAP basis or $0.34 per diluted share on a non-GAAP basis.
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