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Varian Medical Systems' CEO Hosts Investor Mid-Year Review (Transcript)

Varian Medical Systems, Inc. (VAR)

Investor Mid-Year Review Call

May 7, 2012 11:30 AM ET

Executives

Tim Guertin – President and CEO

Elisha Finney – CFO

Kolleen Kennedy – Corporate SVP and President, Oncology Systems

Bob Kluge – SVP and President, X-Ray Products Business

Lester Boeh – VP, Emerging Businesses

Dow Wilson – EVP and COO

Analysts

Steve Beuchaw – Morgan Stanley

Jeremy Feffer – Cantor Fitzgerald

Jeff Johnson – Robert W. Baird

Tycho Peterson – JPMorgan

Josh Jennings – Cowen

Presentation

Tim Guertin

Hello. Welcome. I’m Tim Guertin. Welcome to the mid-year review for Varian Medical Systems. I’m going to have a few comments here at the beginning and then you’re going to hear from a series of speakers, and then we will follow it all up with questions at the end.

So, this is the cast of the movie today. Myself, Elisha Finney, who is our CFO; Kolleen Kennedy, who was appointed President of our Oncology Systems Business about six months ago, and Kolleen has been with the company for about 15 years. Bob Kluge, who is our Senior Vice President and President of the X-Ray Products Business; Lester Boeh, who is Head of our Emerging Businesses Business; and, of course, Dow Wilson, who is an Executive VP and COO of the company.

We are, as always, going to be making forward-looking statements. I’ll give you a moment to read this, familiarize yourself because there’ll be a quiz later.

Just to remind you where we come from a little bit. This is six years of earnings growth and you can see from 2006 to 2011 how we progressed. We gave guidance last week of $376 million to $384 million, so you can sort of see where you think this year is going to go.

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