Varian's profits slip as revenue ticks up slightly

Devicemaker Varian Medical Systems ($VAR) watched its net earnings fall nearly 18% in its fiscal second quarter, as a spike in R&D expenses wiped away slight gains in revenue. Profits came in at $92.7 million for the Palo Alto, CA, company, down from $112.8 million in the same period last year. Revenue increased about 1% to $779 million, driven by a 4% jump in oncology sales and a 2% uptick in imaging components. Results