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Earnings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Hospital spending picks up for Varian: North American orders for Varian Medical Systems' radiation oncology products were up 12% in the third quarter, ended July 2, the firm said on a July 28 earnings call. This compares to a 12% year-over-year decline in North American orders last quarter. The turnaround reflects a "large number of small orders" from hospitals, which appeared to increase spending in the quarter, according to Varian CEO Tim Guertin. Freestanding radiation treatment facilities, meanwhile, are still in recovery mode, he said. The firm's worldwide oncology orders grew 10% to $507 million. Varian's total net revenue for the quarter was $578 million, up 13%
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