Varian Medical Systems Q4 Profit Down, Shares Fall

(RTTNews) - Varian Medical Systems (VAR) Wednesday reported fourth-quarter net earnings of $117.3 million or $1.08 per share, down from $120.2 million or $1.08 per share last year. Shares of Varian Medical Systems were down seven percent in after hours trade.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit of $1.12 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $769.9 million from $756.1 million last year. Analysts estimated revenues of $779.02 million for the quarter.

Looking forward to the first quarter, the company expects earnings of $0.87 to $0.91 per share, and revenues to grow by 6 to 7 percent. Analysts currently estimate earnings of $0.96 per share and revenues growth of 7.10 percent.

For fiscal year 2014, the company expects earnings of $4.22 to $4.34 per share and revenues to grow in the range of 6 to 8 percent. Analysts currently estimate earnings of $4.48 per share and revenue growth of 6.90 percent.