Varian Updates GAAP Results For Q4 & FY19 - Quick Facts

(RTTNews) - Varian (VAR) updated its previously reported GAAP preliminary financial results for fourth quarter and fiscal 2019. The projected financial performance of the company's recently acquired Endocare and Alicon businesses was better than previously expected, resulting in an increase in the fair value of the contingent consideration payable under earnout obligations to the sellers. The fair value increase has no impact on the previously reported non-GAAP financial results.

The increase in fair value related to the Endocare and Alicon businesses has resulted in an $18.6 million increase in acquisition-related expenses in the fourth quarter of fiscal 2019 and an $18.6 million increase in accrued liabilities as of the end of the fourth quarter of fiscal 2019.