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Varian Medical Systems Inc (VAR.N)

VAR.N on New York Stock Exchange

87.04USD
22 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Varian Medical Systems plans to spin off imaging components business
Monday, 23 May 2016 04:05pm EDT 

Varian Medical Says Expects To Incur An $35 Mln In Charges For Transaction Advisory Services, Assuming Spin : Off anticipated to be completed by end of calendar year 2016 . Imaging components business will become a new independent publicly traded company . New imaging components co expected to have annual revenues of about $575 million . New imaging components company is expected to have annual revenues of about $575 million . Says new company's management team will include sunny sanyal as new chief executive officer . Company does not expect spin-off to impact company's non-gaap financial guidance for fiscal year 2016 . Deal intended to take form of a tax-free distribution to varian stockholders of shares of new company's common stock . Off is completed by end of calender year . Says new company's management team will include clarence verhoef as chief financial officer .Varian medical systems announces plan to spin off imaging components business.  Full Article

Varian Medical Systems Inc gives Q2 2016 guidance; updates FY 2016 EPS guidance; reaffirms FY 2016 revenue guidance
Wednesday, 27 Jan 2016 04:02pm EST 

Varian Medical Systems Inc:Including effects of R&D tax credit re-enactment and suspension of medical device excise tax in U.S., co believe that for FY 2016 total company non-GAAP earnings will be in the range of $4.55 to $4.65 per diluted share.Continues to expect that revenues for Fy 2016 will increase by about 4 to 5 percent over FY 2015.Says For Q2 2016, expect revenues to be up one to two percent from the year-ago quarter in dollars.expect non-GAAP earnings for Q2 2016 to be in the range of $1.06 to $1.10 per diluted share.  Full Article

Varian Medical Systems Authorizes Repurchase of Additional 8 Million Shares of Stock through Calendar Year 2016; Also Authorizes Increase of Existing Revolving Debt Facility from $300 mln to $500 mln
Monday, 23 Nov 2015 08:30am EST 

Varian Medical Systems:Board of directors has authorized the company to repurchase an additional 8 million shares of its common stock between November 21, 2015 and December 31, 2016.company has completed a 6 million share repurchase authorization that covered the period between August 15, 2014 and December 31, 2015.The company expects to begin repurchasing shares under the new authorization during the first quarter of fiscal year 2016.Board of directors also authorized company to amend its credit agreement to increase the aggregate commitments under its 2013 revolving credit facility from $300 million to $500 million.additional funds would be used for working capital, capital expenditures, share repurchases, acquisitions, and other corporate purposes.  Full Article

Varian Medical Systems Inc gives Q1 2016 guidance; EPS guidance below analysts' estimates; gives FY 2016 guidance in line with analysts' estimates
Wednesday, 28 Oct 2015 04:05pm EDT 

Varian Medical Systems Inc:Says FY 2016 total company non-GAAP earnings will be in the range of $4.45 to $4.55 per diluted share and revenues will increase by about 4 to 5 percent on a reported basis.Expects Q1 2016 revenues to be roughly even with the year-ago quarter in dollars.Expects Q1 2016 non-GAAP earnings to be in the range of $0.88 to $0.92 per diluted share.Reported revenue of $737.9 million in Q1 2015 and $3.10 billion in FY 2015.Q1 2016 revenue of $748 million and EPS of $1.00 - Thomson Reuters I/B/E/S.FY 2016 revenue of $3.23 billion and EPS of $4.51 - Thomson Reuters I/B/E/S.  Full Article

Varian Medical Systems Inc lowers FY 2015 EPS guidance; reaffirms FY 2015 revenue guidance
Monday, 19 Oct 2015 04:05pm EDT 

Varian Medical Systems Inc:Lower earnings for FY 2015 than was previously guided in its earnings report for the third quarter of the fiscal year.Sees FY 2015 non-GAAP net earnings will be approximately $4.29 per diluted share and that GAAP net earnings will be approximately $4.09 per diluted share.Continues to expect that revenues for FY 2015 will grow by about 2 percent, or 6 percent on a constant currency basis.Reported revenue of $3.05 billion in FY 2014.FY 2015 revenue of $3.15 billion and EPS of $4.40 - Thomson Reuters I/B/E/S.  Full Article

Varian Medical Systems Inc gives FY 2015 revenue guidance; raises FY 2015 EPS guidance
Wednesday, 29 Jul 2015 04:06pm EDT 

Varian Medical Systems Inc:Expect that revenues for FY 2015 will increase by about 2 percent in dollars and by about 6 percent in constant currency.Says earnings for FY 2015 could be in the range of $4.20 to $4.25 per diluted share.Reported revenue of $3.05 billion in FY 2014.FY 2015 revenue of $3.15 billion - Thomson Reuters I/B/E/S.  Full Article

Varian Medical Systems Inc Signs Contracts to Equip Two National Proton Therapy Centers in England
Monday, 27 Jul 2015 08:00am EDT 

Varian Medical Systems Inc:Says it had signed contracts with the National Health Service to equip and service two new national NHS proton therapy centers in England with the Varian ProBeam proton therapy system.Says Earlier this year, Varian announced that it was selected as the preferred supplier for two three-room NHS centers to be constructed in London and Manchester.Says Varian expects to book the equipment portion of the order in its fiscal fourth quarter with the remainder of the order to be booked in accordance with the company's policies over the term of the agreements.  Full Article

William Beaumont Hospital and Elekta File Patent Lawsuit against Varian Medical Systems Inc
Tuesday, 16 Jun 2015 01:41am EDT 

Varian Medical Systems Inc:Says William Beaumont Hospital and Elekta Ltd. filed a patent infringement suit against Varian Medical Systems in the United States District Court for the Eastern District of Michigan.Says the patents in suit are owned by William Beaumont Hospital and exclusively licensed to Elekta Ltd.Says the suit charges that Varian's True Beam linear accelerator infringes the patents.  Full Article

Varian Medical Systems establishes local entity in Saudi Arabia
Wednesday, 3 Jun 2015 09:00am EDT 

Varian Medical Systems:Expanding in the Middle East with the creation of a strategic operating entity in Saudi Arabia.  Full Article

Varian Medical Systems has been selected to equip proton therapy Center in Netherlands
Wednesday, 3 Jun 2015 08:00am EDT 

Varian Medical Systems:Has been selected to equip and service new multi-room hollandptc in Delft with the Varian probeam proton therapy system.Says company will book the equipment part of the order in its fiscal 2015 third quarter.Equipment installation expected to take place in mid-2016, with patient treatments expected to begin in second half 2017.  Full Article

BRIEF-Varian Medical will name imaging components business Varex Imaging Corp

* Varex Imaging Corporation will be name for its imaging components business upon completion of planned spin-off of that business Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)