VARIAN MEDICAL SYSTEMS, INC. VAR Income Statement

Varian medical systems, inc. (VAR)

Income statement / TTM

Apr'20	Jan'20	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Dec'08	Jun'08
Revenues:
Revenues
3,328	3,313	3,225	3,147	3,031	2,981	2,919	2,839	2,763	2,696	2,619	2,476	2,486	2,438	2,593	2,224	2,365	2,509	2,490	3,093	3,057	3,076	3,049	3,007	2,986	2,976	2,942	2,929	2,908	2,860	2,807	2,769	2,713	2,642	2,596	2,529	2,458	2,395	2,356	2,346	2,278	2,246	2,214	2,079	0	0	0
Cost of revenues:
Total cost of revenues
1,888	1,892	1,854	1,823	1,744	1,694	1,645	1,598	1,570	1,546	1,505	1,414	1,406	1,376	1,489	1,305	1,415	1,495	1,458	1,788	1,743	1,757	1,748	1,717	1,709	1,707	1,693	1,684	1,666	1,641	1,610	1,596	1,568	1,504	1,460	1,417	1,371	1,344	1,330	1,312	1,282	1,263	1,253	1,191	0	0	0
Gross margin
1,440	1,421	1,370	1,324	1,286	1,286	1,273	1,240	1,192	1,149	1,113	1,061	1,079	1,062	1,104	918	950	1,014	1,032	1,304	1,313	1,319	1,301	1,290	1,276	1,268	1,249	1,244	1,241	1,218	1,196	1,173	1,145	1,137	1,135	1,111	1,086	1,051	1,025	1,034	996	982	960	887	0	0	0
Operating expenses:
Research and development
265	253	247	242	239	238	233	226	221	216	210	198	194	190	200	179	188	198	195	235	232	233	234	232	228	219	208	197	192	189	185	183	179	175	170	167	161	156	156	154	150	148	147	144	0	0	0
Selling, general and administrative
687	659	623	579	566	559	543	543	524	516	552	519	526	500	472	439	422	433	441	490	503	501	470	459	437	435	432	431	434	426	416	403	393	381	376	366	356	342	334	343	337	339	338	327	0	0	0
Impairment charges
0	-	-	0	0	-	-	0	0	-	51	38	40	40	2	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition-related expenses (benefits)
66	73	62	48	0	0	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Separation costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Litigation settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
1,110	1,036	984	932	858	859	836	818	771	747	816	760	764	734	677	621	610	631	636	725	736	760	730	717	691	654	640	628	627	616	602	587	572	557	547	534	518	499	491	498	488	488	486	472	0	0	0
Operating earnings
329	384	386	392	428	427	437	422	421	402	297	301	314	327	426	297	339	382	395	578	577	558	571	573	585	613	608	615	614	602	594	586	572	580	588	577	567	552	534	536	507	494	474	415	0	0	0
Interest income
13	14	15	20	18	18	17	11	12	12	13	14	16	18	17	16	15	14	13	12	11	11	10	9	8	8	7	6	6	5	5	4	3	3	2	2	2	2	2	2	2	3	4	6	0	0	0
Interest expense
15	12	8	5	4	5	6	8	9	9	10	11	11	12	11	10	9	8	7	7	7	7	7	6	5	5	4	3	3	3	3	3	2	2	2	2	3	3	4	4	4	4	4	4	0	0	0
Other income (expense), net
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (expense), net
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Nonoperating Income (Expense)
-	-	-	45	-	-	4	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before taxes
335	396	420	452	484	467	452	414	411	406	303	304	319	333	432	304	346	389	401	583	581	562	574	576	588	616	612	618	617	604	595	587	573	580	588	577	567	551	532	534	506	493	474	417	0	0	0
Taxes on earnings
104	118	128	113	102	100	301	302	302	300	77	83	86	92	110	57	67	82	89	164	169	163	170	160	167	175	173	177	179	172	168	169	166	178	180	174	170	166	165	175	154	152	143	106	0	0	0
Net earnings from continuing operations
-	-	-	-	-	-	-	-	-	-	226	229	236	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	331	311	0	0	0
Net loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-6	10	30	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-11	-12	-15	0	0	0
Net earnings
231	277	292	338	381	366	150	112	109	92	219	255	284	325	399	383	398	407	412	420	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: Net earnings (loss) attributable to noncontrolling interests
0	0	0	1	0	1	0	0	0	0	0	1	0	1	0	0	0	0	0	0	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net earnings attributable to Varian
231	276	291	337	380	365	149	112	109	92	218	254	283	324	399	383	398	407	411	418	412	399	403	415	420	440	438	441	437	432	427	407	397	392	398	403	390	378	360	352	352	329	319	296	0	0	0
Earnings Per Share [Abstract]
Net earnings (loss) per share - basic
Continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.85	0.76	0.75	0.08	-	0.86	0.81	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.75	-	-	0.78	0.69	0.64	0.56	0.62
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.00	0.00	-0.15	0.07	-	0.18	0.20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.05	-	-	0.00	-0.01	-0.09	0.00	-0.02
Net earnings per share - basic (in dollars per share)
0.48	0.97	0.79	0.32	0.97	1.13	1.27	0.79	0.80	-1.22	0.85	0.76	0.60	0.15	1.22	1.04	1.01	0.92	1.00	1.14	1.06	0.93	1.04	1.03	0.89	0.92	1.09	1.04	1.04	0.87	1.09	0.98	0.96	0.80	0.89	0.84	0.87	0.82	0.88	0.70	0.74	0.64	0.77	0.69	0.55	0.56	0.60
Net earnings (loss) per share - diluted
Continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.85	0.75	0.74	0.08	-	0.86	0.80	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.74	-	-	0.77	0.68	0.64	0.56	0.61
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.00	0.00	-0.14	0.07	-	0.18	0.21	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.05	-	-	0.00	0.01	-0.10	-0.01	-0.03
Net earnings per share - diluted (in dollars per share)
0.47	0.96	0.78	0.32	0.96	1.12	1.26	0.79	0.79	-1.22	0.85	0.75	0.60	0.15	1.20	1.04	1.01	0.91	0.99	1.13	1.05	0.92	1.02	1.02	0.88	0.91	1.07	1.03	1.02	0.86	1.07	0.96	0.94	0.79	0.87	0.83	0.86	0.80	0.86	0.69	0.73	0.63	0.78	0.68	0.54	0.55	0.58
Shares used in the calculation of net earnings per share:
Weighted average shares outstanding - basic (in shares)
90	90	91	91	91	91	91	91	91	91	91	91	93	93	93	94	95	97	98	99	100	100	102	103	104	105	107	108	108	109	109	111	112	112	113	116	117	118	118	122	122	123	124	124	123	123	124
Weighted average shares outstanding - diluted (in shares)
91	91	91	91	91	92	93	92	92	91	92	92	93	94	94	95	96	97	99	100	101	101	103	104	105	107	108	109	110	111	112	112	114	114	114	119	120	121	122	124	124	125	125	124	124	125	127
Other expense, net
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Product
Revenues
1,781	1,804	1,784	1,737	1,641	1,604	1,569	1,524	1,479	1,450	1,394	1,187	1,248	1,244	1,435	1,216	1,369	1,521	1,497	2,078	2,050	2,078	2,083	2,066	2,064	2,069	2,055	1,992	2,014	2,015	2,003	1,988	1,952	1,904	1,879	1,929	1,879	1,835	1,813	1,824	1,780	1,774	1,766	1,658	0	0	0
Total cost of revenues
1,143	1,175	1,169	1,152	1,097	1,067	1,024	1,002	985	968	950	824	850	851	988	878	990	1,072	1,035	1,356	1,307	1,321	1,314	1,294	1,296	1,299	1,295	1,282	1,277	1,267	1,247	1,239	1,219	1,160	1,133	1,121	1,083	1,065	1,055	1,047	1,022	1,018	1,013	941	0	0	0
Service
Revenues
1,546	1,508	1,441	1,410	1,389	1,377	1,349	1,315	1,283	1,245	1,225	1,288	1,237	1,193	1,157	1,007	996	988	993	1,015	1,007	997	966	940	921	906	887	936	893	844	803	781	761	737	717	600	578	560	542	522	498	471	447	421	0	0	0
Total cost of revenues
744	716	684	670	647	627	621	595	584	578	554	589	556	524	500	427	424	422	423	432	435	435	433	423	413	408	397	402	389	374	363	356	349	343	327	296	288	278	275	264	259	245	239	250	0	0	0