Varian Provides an Update on Expected Impact From COVID-19
VARIAN MEDICAL SYSTEMS (VAR)
Last varian medical systems earnings: 1/29 04:09 pm
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US:NYSE Investor Relations:
investors.varian.com
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Source: PR Newswire
PALO ALTO, Calif., March 9, 2020 /PRNewswire/ -- Varian (NYSE: VAR) today announced that the COVID-19 outbreak will negatively impact the company's operating results. Across the company's Asia-Pacific geographies, healthcare resources are being prioritized for the treatment and management of the outbreak. Consequently, the company is experiencing delays in hardware and software installations and acceptance, as well as in the delivery of interventional oncology procedures. While no orders have been cancelled, the company expects revenues to be negatively impacted and, as of today, estimates second quarter of fiscal 2020 revenues to be in the range of $800 million to $825 million. While uncertainty remains around the duration, severity and geographic scope of the COVID-19 outbreak, the company preliminarily estimates 7 to 9 percent revenue growth for fiscal year 2020. The company's outlook could shift if the dynamics of the outbreak change materially. "We are closely monitoring this
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