Varian Medical Systems Q1 adjusted earnings Beat Estimates

(RTTNews) - Varian Medical Systems (VAR) reported earnings for its first quarter that advanced from last year.

The company's bottom line came in at $96.5 million, or $1.05 per share. This compares with $88.2 million, or $0.96 per share, in last year's first quarter.

Excluding items, Varian Medical Systems reported adjusted earnings of $105.3 million or $1.14 per share for the period.

Analysts had expected the company to earn $1.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.0% to $778.8 million from $828.9 million last year.

Varian Medical Systems earnings at a glance:

-Earnings (Q1): $105.3 Mln. vs. $106.6 Mln. last year. -EPS (Q1): $1.14 vs. $1.16 last year. -Analysts Estimate: $1.10 -Revenue (Q1): $778.8 Mln vs. $828.9 Mln last year.