Varian Medical Systems, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 29, 2017; Provides Earnings Guidance for the Fiscal Year 2018
Considering the financial and operational performance in the first quarter, and the impact of the new Tax Cuts and Jobs Act, fiscal year 2018 guidance is updated and increased to the following: Revenue growth range of 4% to 7%; Non-GAAP operating earnings as a percentage of revenues range of 18% to 19%; Non-GAAP effective tax rate of 21%; Non-GAAP earnings per diluted share range of $4.24 to $4.36; and cash flow from operations range of $475 million to $550 million.