Q2 2020 Varian Medical Systems Inc Earnings Call

Swedish radiation therapy equipment maker Elekta on Tuesday slashed its sales growth and margin forecasts for the fiscal year ending in April, citing the impact of the COVID-19 pandemic. The company, which rivals U.S group Varian Medical Systems , said it now forecast constant currency sales growth of around 1% for the year, compared to its previous forecast of 8-10% growth, given in February. Elekta also forecast an operating margin (EBITA) of 16-17%, down from the 18% previously seen.

As further evidence of the strong industry response to a potential new paradigm in the treatment of cancer, Varian (NYSE: VAR) today announced that Proton Therapy Pte., Ltd. (http://www.proton.sg/) in Singapore has joined the FlashForward™ Consortium. Now including 20 members, representing nine countries, the Consortium is focused on preclinical research, clinical implementation, and advocacy efforts of FLASH therapy.

Varian (NYSE: VAR) today announced that J. Michael Bruff, Chief Financial Officer, Chris Toth, President, Varian Oncology Systems, and Anshul Maheshwari, Vice President, Investor Relations and Treasurer will participate in a virtual fireside chat at the Jefferies Virtual Healthcare Conference, scheduled for 11:00 a.m. Eastern Time on Tuesday, June 2, 2020.

Varian (VAR) continued to gain from core Oncology Systems segment in Q2.

Varian (NYSE: VAR) and the National University Cancer Institute, Singapore (NCIS), are partnering to expand access to cancer solutions in Singapore in the fight against cancer. In 2018, 26,164 cases of cancer were diagnosed in Singapore, and it is expected to more than double to 57,319 cases over the next 20 years.1

In response to the significant healthcare delivery changes brought on by COVID-19, Varian (NYSE: VAR) has launched new capabilities for its Noona® software application, a powerful tool designed to engage cancer patients in their care for continuous reporting and symptom monitoring. Noona supports cancer care teams as they face new short- and long-term healthcare changes created by the pandemic by providing in-app features such as patient screening, real-time symptom reporting, secure care team messaging, telephone triage workflow automation, and patient access to medical records. In addition, Varian has designed a new approach to quickly and remotely implement the solution to put it in the hands of cancer patients and care teams faster, without increasing the risk of COVID-19 exposure.

This week we saw the Varian Medical Systems, Inc. (NYSE:VAR) share price climb by 12%. But that doesn't change the...

This development, which is in response to the challenges brought on by the pandemic, is expected to boost Varian's (VAR) Oncology segment.

Varian (NYSE: VAR) today announced its second quarter fiscal year 2020 earnings release date.

The Icon Cancer Centre Wahroonga in Australia has treated its first cancer patient with Varian Ethos™. This artificial intelligence (AI)-driven holistic adaptive therapy solution is designed to deliver an entire adapted treatment in a typical 15-minute timeslot.

The launch of this system is a step forward in Varian's (VAR) commitment toward strengthening its Proton Solutions segment.

Varian's (VAR) flagship ProBeam platform is seeing multiple developments of late.

Varian (NYSE: VAR) today announced that Dow Wilson, Chief Executive Officer, J. Michael Bruff, Chief Financial Officer, and Anshul Maheshwari, Vice President, Investor Relations and Treasurer, will participate in a virtual fireside chat at the UBS Virtual Global Healthcare Conference at 1:20 p.m. EDT on Monday, May 18, 2020.

Belgian medical technology therapy company Ion Beam Applications reported a small annual core profit on Thursday, meeting its guidance after its first six months ended in the red, and said it faced continued pricing pressure as rivals attempted to gain market share. The group, which makes machines that deliver cancer-fighting proton beams, a super precise form of radiation, made a full-year profit before interest and taxes (REBIT) of 87,000 euros ($94,986.60), after a profit of 5.7 million euros a year earlier. The company, which had forecast a positive REBIT, said the results reflected gross margin weakness as a result of pricing pressure on new contracts and greater investment in research and development, but cost cuts and controls helped mitigate that.

With its stock down 22% over the past three months, it is easy to disregard Varian Medical Systems (NYSE:VAR). But if...

Varian's (VAR) solid Oncology platform is expected to have driven fiscal second-quarter performance.

In 2012, Dow Wilson was appointed CEO of Varian Medical Systems, Inc. (NYSE:VAR). This analysis aims first to contrast...

VAR earnings call for the period ending March 31, 2020.

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]