Varian Earnings Flat

Guidance is solid, though.
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Varian

(VARI)

, a scientific instruments and vacuum technologies supplier for life science and industrial applications, said Wednesday its fourth-quarter earnings remained flat.

The company earned $14.7 million, or 47 cents a share, in the quarter, compared with $14.6 million, or 46 cents a share, a year ago. Adjusted for items, earnings were $18.2 million, or 58 cents a share, in the most recent quarter, compared with $16.1 million, or 50 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 52 cents a share in the most recent quarter.

Fourth-quarter revenue rose 10.9% from a year-ago period to $219.6 million as against analysts' expectation of $218.9 million.

The company expects to earn $1.86 a share to $1.98 a share for 2007. This includes expenses related to stock options of about 20 cents a share, intangible amortization of 19 cents a share and inventory write-up amortization of about 3 cents a share. The Palo Alto, Calif.-based company expects adjusted earnings of $2.28 a share to $2.40 a share for 2007 as against analysts' estimate of $2.24 a share.

Fourth-quarter adjusted operating profit rose 18.7% from a year ago to $27.4 million and operating margin increased 80 basis points to 12.5%.

By segment, fourth-quarter revenue from scientific instruments rose 11.8% from a year-ago period to $183 million and from vacuum technologies it was up 6.4% to $36.6 million.

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