Varian Medical Systems (NYSE: VAR) reported earnings on April 25. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 30 (Q2), Varian Medical Systems beat expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded and GAAP earnings per share expanded.

Margins dropped across the board.

Revenue details
Varian Medical Systems booked revenue of $720.3 million. The 11 analysts polled by S&P Capital IQ foresaw sales of $699.9 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $648.5 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $0.96. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.96 per share on the same basis. GAAP EPS of $0.94 for Q2 were 9.3% higher than the prior-year quarter's $0.86 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 41.2%, 340 basis points worse than the prior-year quarter. Operating margin was 20.0%, 330 basis points worse than the prior-year quarter. Net margin was 15.0%, 90 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $719.2 million. On the bottom line, the average EPS estimate is $1.02.

Next year's average estimate for revenue is $2.83 billion. The average EPS estimate is $3.94.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 378 members out of 393 rating the stock outperform, and 15 members rating it underperform. Among 119 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 117 give Varian Medical Systems a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Varian Medical Systems is outperform, with an average price target of $74.15.

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