Varian medical systems, inc. (VAR)
Income statement / Yearly
Sep'19Sep'18Sep'17Sep'16Sep'15Sep'14Sep'13Sep'12Sep'11Sep'10Sep'09Sep'08Sep'07
Revenues:
Revenues

3,225

2,919

2,619

2,593

2,490

3,049

2,942

2,807

2,596

2,356

2,214

2,069

1,755

Cost of revenues:
Total cost of revenues

1,854

1,645

1,505

1,489

1,458

1,748

1,693

1,610

1,460

1,330

1,253

1,192

1,022

Gross margin

1,370

1,273

1,113

1,104

1,032

1,301

1,249

1,196

1,135

1,025

960

877

732

Operating expenses:
Research and development

247

233

210

200

195

234

208

185

170

156

147

135

117

Selling, general and administrative

623

543

552

472

441

470

432

416

376

334

338

322

276

Impairment charges

50

22

51

2

0

-

-

-

-

-

-

-

-

Acquisition-related expenses (benefits)

62

36

1

3

-

-

-

-

-

-

-

-

-

Separation costs

-

-

-

-

-

0

-

-

-

-

-

-

-

Litigation settlement

-

-

-

-

-

-25

-

-

-

-

-

-

-

Total operating expenses

984

836

816

677

636

730

640

602

547

491

486

458

394

Operating earnings

386

437

297

426

395

571

608

594

588

534

474

419

338

Interest income

15

17

13

17

13

10

7

5

2

2

4

11

12

Interest expense

8

6

10

11

7

7

4

3

2

4

4

4

4

Nonoperating Income (Expense)

28

4

2

-

-

-

-

-

-

-

-

-

-

Earnings before taxes

420

452

303

432

401

574

612

595

588

532

474

426

345

Taxes on earnings

128

301

77

110

89

170

173

168

180

165

143

130

103

Net earnings from continuing operations

292

150

226

322

311

-

-

-

408

367

331

295

242

Net loss from discontinued operations

0

0

-6

77

100

-

-

-

-9

-7

-12

-15

-3

Net earnings

292

150

219

399

412

403

438

-

-

-

-

-

-

Less: Net earnings (loss) attributable to noncontrolling interests

0

0

0

0

0

0

0

-

-

-

-

-

-

Net earnings attributable to Varian

291

149

218

399

411

403

438

427

398

360

319

279

239

Earnings Per Share [Abstract]
Net earnings (loss) per share - basic
Continuing operations (in dollars per share)

3.21

1.64

2.44

3.38

3.13

-

-

-

3.50

3.02

2.67

2.37

1.91

Discontinued operations (in dollars per share)

0.00

0.00

-0.08

0.81

1.00

-

-

-

-0.08

-0.06

-0.10

-0.13

-0.03

Net earnings per share - basic (in dollars per share)

3.21

1.64

2.36

4.19

4.13

3.88

4.04

3.83

3.42

2.96

2.57

2.24

1.88

Net earnings (loss) per share - diluted
Continuing operations (in dollars per share)

3.18

1.62

2.42

3.36

3.10

-

-

-

3.44

2.96

2.65

2.31

1.86

Discontinued operations (in dollars per share)

0.00

0.00

-0.07

0.80

0.99

-

-

-

-0.08

-0.05

-0.10

-0.12

-0.03

Net earnings per share - diluted (in dollars per share)

3.18

1.62

2.35

4.16

4.09

3.83

3.98

3.76

3.36

2.91

2.55

2.19

1.83

Shares used in the calculation of net earnings per share:
Weighted average shares outstanding - basic (in shares)

91

91

92

95

99

104

108

111

116

121

124

124

127

Weighted average shares outstanding - diluted (in shares)

91

92

93

96

100

105

110

113

118

124

124

127

130

Product
Revenues

1,784

1,569

1,394

1,435

1,497

2,083

2,055

2,003

1,879

1,813

1,766

1,689

1,447

Total cost of revenues

1,169

1,024

950

988

1,035

1,314

1,295

1,247

1,133

1,055

1,013

985

852

Service
Revenues

1,441

1,349

1,225

1,157

993

966

887

803

717

542

447

380

307

Total cost of revenues

684

621

554

500

423

433

397

363

327

275

239

207

169