Varian Reports Results for Third Quarter of Fiscal Year 2018

Thursday, July 26, 2018 General News
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Third Quarter 2018 Summary

(1)

Includes $1.9 million, $1.2 million, $4.6 million, and $3.7 million, respectively, in cost of revenues for the periods presented.

(2)

Includes the hedging loss related to the Australian dollar purchase price for Sirtex Medical Limited amounting to $13.3 million in the third quarter and $29.7 million in the year-to-date period 2018, acquisition-related expenses of $8.4 million in the third quarter and $13.2 million in the year-to-date period 2018, partially offset by the net $9.0 million Sirtex breakup fee in the third quarter of 2018. 

(3)

Represents the tax effect of a change in law related to the U.S. Tax Cuts and Jobs Act. The corporate rate reduction results in a remeasurement of our Deferred Tax Assets of $1.6 million in the third quarter and $41.8 million in the year-to-date period 2018. The mandatory deemed repatriation of unremitted foreign earnings results in an estimated charge of $173.1 million in the year-to-date period 2018.

(4)

Excludes immaterial net earnings from continuing operations attributable to noncontrolling interests for the periods presented.



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