Varian Medical Systems, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2013. For the quarter, the company’s revenues were $768.4 million against $720.3 million a year ago. Earnings before taxes were $156.3 million against $144.2 million a year ago. Net earnings were $112.8 million or $1.02 per diluted share against $107.8 million or $1.94 per diluted share a year ago. Operating earnings were $155.7 million, against $143.8 million a year ago. Revenues and net earnings continued to grow during the second quarter in line with the expectations for the company. Second quarter cash flow from operations was $31 million as net income was more than offset by working capital changes. For the six months, the company’s revenues were $1,446.8 million against $1,345.6 million a year ago. Earnings before taxes were $294.5 million against $273.4 million a year ago. Net earnings were $208.1 million or $1.88 per diluted share against $198.0 million or $1.73 per diluted share a year ago. Operating earnings were $293.2 million, against $272.7 million a year ago. Year-to-date, cash flow from operations was $103 million. For the third quarter of fiscal year 2013, total company revenues could increase by about 7% over the prior-year quarter. Net earnings per diluted share for the third quarter should be in the range of $0.98 to $1.02. The company remains on track for achieving its fiscal 2013 growth targets. For the fiscal year 2013, the company continues to believe that total company revenues could increase by about 8% over the prior fiscal year and that net earnings per diluted share for the fiscal year could be in the range of $4.09 to $4.14. And for the second half, the company estimates that the effective tax rate will be about 28% to 29%.

Varian Medical Systems, Inc. and Paul Scherrer-Institut are announcing a collaboration to further advance motion management techniques for proton therapy. The multi-year agreement, aimed at optimizing treatment strategies for indications such as cancer in the lung, liver, pancreas and breast, will evaluate strategies using a 4-D treatment planning simulator developed by PSI. Proton therapy involves the use of a controlled beam of protons to target tumors with higher levels of precision than is possible with other forms of radiation therapy, potentially limiting damage to healthy surrounding tissue. The Paul Scherrer Institute in Switzerland is a pioneer in the development of Intensity Modulated Proton Therapy (IMPT) techniques, and specializes in the treatment of pediatric patients. This project will utilize 4-D motion data sets and dose calculations that can uniquely model patient motion variations that are difficult to capture with conventional data sets.

Varian Medical Systems, Inc. to demonstrate its full range of radiotherapy delivery systems and software at the 2(nd) ESTRO (European Society for Radiotherapy and Oncology) Forum, taking place April 19(th) -22(nd). The Varian booth will feature the company's technology and products for radiotherapy, radiosurgery, brachytherapy, and proton therapy. Varian's TrueBeam(TM) platform for fast and precise radiotherapy and radiosurgery will be on display along with the RapidArc(R) image-guided intensity-modulated radiotherapy system, the PerfectPitch(TM) six-degrees-of-freedom couch, and the Calypso(R) 'GPS for the Body' system, all of which are aimed at helping clinicians to deliver treatments faster and more precisely. The latest version of the ARIA(R) oncology information management suite will also be exhibited. This comprehensive paperless system was designed to streamline clinical, financial, and administrative processes in cancer care, with the aim of making radiation and medical oncology departments more efficient and cost-effective. It can be configured to guide clinical personnel through their daily tasks by automatically activating the next step in a process as each step is completed. Varian will demonstrate new features in its Eclipse(TM) treatment planning software that make planning more straightforward and intuitive, including SmartSegmentation(R) Knowledge-Based Contouring that expedites the process of outlining tumors as well as surrounding healthy organs for planning treatments.