Varian Raises FY08 Guidance
In the fiscal third quarter, Varian reported delays due to the timing of NMR and MRI installations, as well as manufacturing delays due to the relocation of manufacturing facilities (see IBO 8/31/08). According to Thomson Reuters, analysts forecast full-year EPS of $2.50.
Palo Atlo, CA 10/14/08—Varian has announced that it expects its sales for the fiscal year ended October 3 to exceed $1 billion. The company forecasts non-GAAP adjusted diluted EPS of more than $2.80, compared to previous guidance of $2.74 plus or minus $0.05. GAAP diluted EPS is expected to exceed $2.11, compared to the previous forecast of $2.05 plus or minus $0.09. “We are pleased with our execution in the fourth quarter and have substantially overcome the issues we had in the third quarter,” commented Varian President and CEO Garry W. Rogerson.
