PALO ALTO, Calif., July 24, 2019 /PRNewswire/ --
Third Quarter 2019 Summary
Oncology Systems gross orders grew 2% in dollars, or 4% in constant currency; Trailing twelve months gross orders grew 11% in dollars, or 13% in constant currency
Total company revenues grew 16% in dollars, or 19% in constant currency, to $826 million
GAAP operating earnings declined 48% at 6.5% of revenues; Non-GAAP operating earnings grew 22% at 17.5% of revenues
GAAP net earnings per diluted share of $0.32; Non-GAAP net earnings per diluted share of $1.32
GAAP net earnings include a $51 million impairment charge to Proton Solutions goodwill and $31 million in acquisition related costs
US/China tariffs negatively impacted revenue growth by $10 million or 140 basis points and GAAP operating earnings growth by $15 million and as a percentage of revenues by 170 basis points
Updating fiscal year 2019 guidance; raising revenue growth range to 9% to 10% and narrowing Non-GAAP net earnings per diluted share range to $4.58 to $4.63
Closed the acquisitions of CyberHeart, Cancer Treatment Services International, Endocare, and Alicon
Varian (NYSE: VAR) today announced its third quarter fiscal year 2019 results.
"In the third quarter, our team delivered exceptional performance growing Non-GAAP operating earnings faster than revenue," said Dow Wilson, Chief Executive Officer of Varian. "We are also excited about the progress we made in the quarter toward our long-term strategy with additions to our portfolio in technology-enabled services, interventional oncology, and cardiac radioablation."
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