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UPDATE 1-Varian qtrly profit beats, cuts full-year outlook
July 25, 2012 / 8:45 PM / 5 years ago

UPDATE 1-Varian qtrly profit beats, cuts full-year outlook

* Full-year profit growth lowered to about 8 pct

* Revenue growth forecast for 2012 cut to 8-9 pct

* Shares unchanged

July 25 (Reuters) - Varian Medical Systems posted a higher than expected quarterly profit, but lowered its outlook for the full year, citing volatile currency exchange rates, particularly weakness in the Euro.

Net income for Varian’s fiscal third quarter rose 10 percent to $108.8 million. Earnings per share was 96 cents, beating the consensus analyst estimate of 93 cents, according to Thomson Reuters I/B/E/S.

Revenue rose 9 percent to $705 million.

For the full fiscal year, Varian said it expects revenue to increase by about 8 percent year-over-year, while net profits were projected to rise by between 8 percent and 9 percent.

Previously, the company had projected full-year revenue growth of about 10 percent and earnings growth of 9 percent to 12 percent.

Shares of Varian, which closed at $57.31, were unchanged after hours. (Reporting By Deena Beasley; Editing by Bernard Orr)

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