Varian Medical Systems, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 30, 2016; Provides Earnings Guidance for the Second Quarter and Fourth Quarter of the Fiscal Year 2017; Announces Impairment Charges for the First Quarter Ended December 30, 2016
The company provided earnings guidance for the second quarter and second through the fourth quarters of the fiscal year 2017. For the second quarter, they believe the company's revenues from continuing operations will grow in the range of 4% to 5% and non-GAAP earnings per diluted share will be in the range of $0.84 to $0.90. Non-GAAP earnings per diluted share from continuing operations for quarter are expected to be in the range of $2.94 to $3.06.
The company is guiding for continuing operations for the second through the fourth quarters of the fiscal year 2017. For the balance of fiscal year 2017, they believe the company's revenues from continuing operations will grow in the range of 4% to 5%, bringing revenue growth for the year to 3% to 4%. Non-GAAP earnings per diluted share from continuing operations for the second through fourth quarters of the fiscal year will be in the range of $2.94 to $3.06. The company anticipates that GAAP net earnings per diluted share for the second through the fourth quarters of the fiscal year 2017 will be in the range of $1.20 to $1.30.
The company announced impairment charges for the first quarter ended December 30, 2016. For the quarter, the company reported impairment charges of $38.3 million.