Varian, Inc. Reports Higher Sales and Profits for the Second Quarter of Fiscal Year 2004
Varian, Inc. reported higher sales of $232.7 million for the second quarter of fiscal year 2004, representing an increase of 13.7% over second quarter 2003 sales of $204.6 million. The increase was driven by the general economic improvement and by strong demand for the Company's newer products. All three of the Company's segments, particularly the vacuum Technologies segment, contributed to the revenue growth.
Pro forma net earnings were $15.4 million for the second quarter of fiscal year 2004, or $0.43 pro forma diluted earnings per share, compared to $14.3 million, or $0.41 pro forma diluted earnings per share, in the second quarter of fiscal year 2003. On a GAAP basis, net earnings in the second quarter of fiscal year 2004 were $14.7 million, or $0.41 diluted earnings per share, compared to $13.9 million, or $0.40 diluted earnings per share, in the second quarter of fiscal year 2003.
Results by Segment
Scientific Instruments revenues for the second quarter of fiscal year 2004 were $149.9 million, representing a 10.6% increase over revenues of $135.5 million in the second quarter of the prior year. Demand was strong in Europe and continued to improve in North America.
Scientific Instruments operating profit margin for the second quarter of fiscal year 2004 was 10.2% on a pro forma basis and 9.5% on a GAAP basis. As the Company had anticipated, pro forma operating margins were lower versus the year-ago quarter, but improved slightly sequentially. Operating margins continued to be adversely affected by a mix shift towards high-field nuclear magnetic resonance (NMR) systems and leading edge cold probes for NMR and away from lower field NMR systems. The negative impact of this mix shift on operating margins was partially offset by stronger sales of higher margin mass spectrometry products and application-based consumables.
Vacuum Technologies revenues of $38.4 million rose 36.5% in the second quarter of fiscal year 2004 compared to revenues of $28.2 million in the second quarter of fiscal year 2003. Vacuum Technologies operating profit margin in the second quarter of fiscal year 2004 was 17.6% on both a pro forma and GAAP basis. During the quarter, Vacuum Technologies revenue growth was fueled by significantly higher demand in both life science and industrial applications. In life sciences, the segment experienced a substantial uptick in demand for turbomolecular pumps for use in OEM mass spectrometers. Industrial growth was driven by semiconductor applications, but demand for pumps for broad industrial uses also increased during the quarter. Operating margins improved primarily as a result of sales volume leverage.
Other news from the department business & finance
These products might interest you
IonTamer ToF MS by Spacetek Technology
IonTamer instruments are time-of-flight residual gas analysers (TOF-RGA) for the analysis of gases
Compact Time-of-flight residual gas analyzer (TOF-RGA) for process analysis
PlasmaQuant MS Elite by Analytik Jena
LC-ICP-MS Is the Key to the World of Elemental Species
Highest Sensitivity and Lowest Detection Limits with PlasmaQuant MS Series and PQ LC
Xevo TQ Absolute by Waters
A new Tandem Quadrupole Mass Spectrometer for Quantification with Absolute power
Absolute performance, efficiency, productivity, and confidence for your most challenging compounds
iCAP RQ single Quadrupole ICP-MS by Thermo Fisher Scientific
Robust ICP-MS with ease of use and high productivity for routine analysis
A complete multi-element analysis solution for your high-throughput routine laboratory
iCAP TQ Triple Quadrupole ICP-MS by Thermo Fisher Scientific
Overcome unexpected interferences, reduce detection limits and improve data quality
Ultralow limits of detection with simplicity - even for the most challenging analytical applications
Thermo Scientific TSQ Triple Quadrupole Mass Spectrometry Systems by Thermo Fisher Scientific
Confident quantitation with triple quadrupole LC-MS systems
Mass Spectrometry Systems
TSQ 9610 GC-MS/MS by Thermo Fisher Scientific
TSQ 9610 GC-MS/MS for superb sensitivity and selectivity with outstanding reliable productivity
Eliminate unnecessary, unplanned instrument downtime, save helium and maximize productivity
Get the analytics and lab tech industry in your inbox
From now on, don't miss a thing: Our newsletter for analytics and lab technology brings you up to date every Tuesday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
Most read news
More news from our other portals
See the theme worlds for related content
Topic World Spectroscopy
Investigation with spectroscopy gives us unique insights into the composition and structure of materials. From UV-Vis spectroscopy to infrared and Raman spectroscopy to fluorescence and atomic absorption spectroscopy, spectroscopy offers us a wide range of analytical techniques to precisely characterize substances. Immerse yourself in the fascinating world of spectroscopy!
Topic World Spectroscopy
Investigation with spectroscopy gives us unique insights into the composition and structure of materials. From UV-Vis spectroscopy to infrared and Raman spectroscopy to fluorescence and atomic absorption spectroscopy, spectroscopy offers us a wide range of analytical techniques to precisely characterize substances. Immerse yourself in the fascinating world of spectroscopy!
Topic World Mass Spectrometry
Mass spectrometry enables us to detect and identify molecules and reveal their structure. Whether in chemistry, biochemistry or forensics - mass spectrometry opens up unexpected insights into the composition of our world. Immerse yourself in the fascinating world of mass spectrometry!
Topic World Mass Spectrometry
Mass spectrometry enables us to detect and identify molecules and reveal their structure. Whether in chemistry, biochemistry or forensics - mass spectrometry opens up unexpected insights into the composition of our world. Immerse yourself in the fascinating world of mass spectrometry!
