This year's annual meeting of the European Congress of
Radiology (ECR), held recently at Vienna, saw a comprehensive
line of imaging components showcased by
Varian Medical Systems
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The exhibits put up by VAR was inclusive of the company's PaxScan
wireless digital detectors, digital image processing systems as
well as its full range of X-ray tubes for mammography,
fluoroscopy, angiography, cardiology and cone beam CT imaging.
VAR's share price reached a new 52-week high of $85.50 in mid-day
trading on Mar 11, following the end of the four-day event on Mar
10, and continued to hover around this range in the subsequent
VAR presented several advanced filmless imaging and X-ray tube
components at the ECR.
PaxScan Wireless Radiographic Detectors
-- available in two models -- PaxScan 4336W and PaxScan 2530W-
are lightweight, cassette-size, portable detectors that can
generate superior quality images very quickly. They are designed
to provide significant workflow efficiencies to enhance the
patient care experience.
is an advanced radiography and fluoroscopy panel for universal RF
and large volume CBCT applications that delivers high quality
X-ray images as well as excellent low-dose fluoroscopic images,
showing motion at up to 60 frames per second.
is a full-field digital mammography detector designed to support
rapid image acquisition and tomosynthesis, a method of using
X-rays to create a 3-dimensional image of the breast.
The metal rotating
G-692 X-Ray Tube
was specifically developed for use with flat panel digital
detectors used in fluoroscopic applications.
X-ray tube is an anode end grounded (AEG) replacement X-ray tube
for the GE LightSpeed VCT scanner offering lower life cycle
costs. The MCS-8064 was designed with Varian's experience of
manufacturing anode end grounded CT tubes over 20 years.
Nexus Imaging Software & Workstation
is an advanced image processing software and workstation with
complete flexibility for processing data from mixed inputs: CCD
cameras, legacy image intensifier systems and RF and DR flat
panel image detectors. With a streamlined workflow and color
touch screen controls, the system is optimized for faster patient
throughput, flexibility and increased usability.
For the first quarter of fiscal 2014 ended Dec 27, 2013, VAR
posted a 5.8% rise in net earnings per share to 91 cents which
edged past the Zacks Consensus Estimate by a penny. With this,
the company also met its own guidance of a 6-7% rise in earnings
per share to 87-91 cents for the quarter.
Revenues in the quarter escalated nearly 5.0% to $711.5 million,
but lagged the Zacks Consensus Estimate of $718 million. The
growth was attributable to the continued strong demand for
Oncology services and X-ray imaging components.
The company also saw a strong demand for its new mammography and
wireless panels and continued interested in its bundled panel and
workstation solutions during the quarter.
For fiscal 2014, VAR expects revenues to grow by 6-8% compared
with the earlier guidance of 6-7%. However, the company
reiterated its earnings per share guidance between $4.22 and
$4.34 for the year. The current Zacks Consensus Estimate of $4.29
lies within the guided range.
Currently, VAR has a Zacks Rank #3 (Hold). Some better-ranked
stocks that are performing well in the medical instruments
Natus Medical Inc.
Syneron Medical Ltd.
). All the three stocks carry a Zacks Rank #1 (Strong Buy).