Varian Associates Inc.: The diversified high-technology company...
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Varian Associates Inc.: The diversified high-technology company based in Palo Alto reported that profit for fiscal 1989 rose 13% over that of 1988 to $31.5 million. The year-ago figure included a net gain from the sale of a division as well as an after-tax restructuring charge. The company said orders and sales for fiscal 1989 set records. Sales rose 14.5% to $1.34 billion. Fourth-quarter profit was $1 million, down from $24.2 million in 1988, which included the gain from the sale of the division. Quarterly sales rose 18% to $364 million. Problems in the Electron Device and Systems Group affected the results, the firm said.
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