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Varian Medical Systems Q3 adjusted earnings Beat Estimates

Varian Medical Systems (VAR) reported a profit for third quarter that dropped from the same period last year.

The company's earnings came in at $29.4 million, or $0.32 per share. This compares with $72.6 million, or $0.79 per share, in last year's third quarter.

Excluding items, Varian Medical Systems reported adjusted earnings of $120.8 million or $1.32 per share for the period.

Analysts had expected the company to earn $1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.5% to $825.8 million from $709.1 million last year.

Varian Medical Systems earnings at a glance:

-Earnings (Q3): $120.8 Mln. vs. $96.6 Mln. last year.
-EPS (Q3): $1.32 vs. $1.04 last year.
-Analysts Estimate: $1.13
-Revenue (Q3): $825.8 Mln vs. $709.1 Mln last year.

Full year EPS guidance: $4.58 - $4.63

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