The Palo Alto, Calif.–based radiotherapy device maker posted profits of $88.9 million, or 96¢ per share, on sales of $829.9 million for the three months ended Dec. 31, 2019, for a 14.4% bottom-line slide on sales growth of 11.9%.
Adjusted to exclude one-time items, earnings per share were $1.16, 3¢ behind Wall Street’s projections.
Varian said it is making no changes to its 2020 sales guidance. In October, the company said it expects to report fiscal 2020 adjusted EPS of $5.30 to $5.45 on sales of $3.52 billion to $3.61 billion.
VAR shares were down -2.9% at $143.01 per share in early-morning trading today.