瓦里安2009年第三季度财务报告
[摘要] 7月27日,Palo Alto, CA –瓦里安公司(NasdaqGS 股票代码:VARI)今天公布2009年第三季度财政收入,总计一万九千六百六十零点零万美元,相比2008年第三季度财政收入减少了19.6%。
PALO ALTO, Calif.,
Non-GAAP (adjusted) diluted earnings per share for the third quarter of 2009 were
Adjusted operating profit margin was 10.6% in the third quarter of 2009, compared to 9.6% in the prior-year quarter. On a GAAP basis, operating profit margin was 9.4% in the third quarter of 2009, compared to 7.1% in the same quarter a year ago.
Free cash flow, which is defined as operating cash flow less net fixed asset purchases, was
Revenues in the third quarter of fiscal year 2009 were lower than the prior-year quarter, but were relatively flat on a sequential basis. Despite the lower revenues, the company was able to maintain solid adjusted operating profit margins in the quarter, primarily due to the positive impact of efficiency improvements implemented in recent years, the benefit of cost reduction activities announced in
For a complete reconciliation of non-GAAP (adjusted) financial information used in this press release to the most directly comparable GAAP financial information, please refer to the attached Reconciliations of GAAP to Adjusted Results, Actual.
Results by Segment
Scientific Instruments revenues for the third quarter of 2009 were
Vacuum Technologies revenues were
Cancellation of Conference Call
The company has cancelled its previously announced investor conference call to review its third quarter results that was scheduled for
Non-GAAP (Adjusted) Financial Measures
This press release includes non-GAAP (adjusted) financial measures for cost of sales, selling, general and administrative expenses, research and development expenses, purchased in-process research and development expenses, operating earnings, operating profit margins, impairment of private company equity investments, income tax expense, net earnings, diluted earnings per share and free cash flow. With the exception of free cash flow, these non-GAAP financial measures exclude acquisition-related intangible and inventory write-up amortization and purchased in-process research and development expenses, restructuring and other related costs, and impairment of private company equity investments. Reconciliations of each of these non-GAAP financial measures to the most directly comparable GAAP financial measures are detailed in the Reconciliations of GAAP to Adjusted Results attached to this press release. We believe that presentation of these non-GAAP financial measures provides useful information to investors regarding our results of operations and our cash flows.
We believe that excluding acquisition-related intangible and inventory write-up amortization and purchased in-process research and development expenses provides supplemental information and an alternative presentation useful to investors' understanding of the company's core operating results and trends. In addition, investors have indicated to us that they analyze the benefits of acquisitions based on the cash return on the investment made, and thus consider financial measures excluding acquisition-related intangible and inventory write-up amortization and purchased in-process research and development expenses as important, useful information.
We similarly believe that excluding restructuring and other related costs (principally related to facility closures and employee terminations to reduce costs and improve operational efficiency) and impairment of private company equity investments provides supplemental information and an alternative presentation useful to investors' understanding of the company's core operating results and trends, especially when comparing those results on a consistent basis to results for previous periods and anticipated results for future periods. Investors have indicated that they consider financial measures of our results of operations excluding restructuring and other related costs and impairment of private company equity investments as important supplemental information useful to their understanding of our historical results and estimating of our future results.
We also believe that, in excluding acquisition-related intangible and inventory write-up amortization and purchased in-process research and development expenses, restructuring and other related costs, and impairment of private company equity investments, our non-GAAP financial measures provide investors with transparency into what is used by management to measure and forecast our results of operations, to compare on a consistent basis our results of operations for the current period to that of prior periods, to compare our results of operations on a more consistent basis against that of other companies, in making financial and operating decisions and to establish certain management compensation.
We believe that the presentation of free cash flow provides investors with useful information on what is used by management to measure cash management performance, in making financial and operating decisions and to establish certain management compensation.
Although we believe, for the foregoing reasons, that our presentation of non-GAAP financial measures provides useful supplemental information to investors regarding our results of operations and our cash flows, our non-GAAP financial measures should only be considered in addition to, and not as a substitute for or superior to, our financial measures prepared in accordance with GAAP.
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