Varian Medical Systems, Inc. announced unaudited consolidated earnings results for the first quarter of fiscal 2015. For the quarter, the company reported revenue of $737.9 million against $711.5 million a year ago. Operating earnings were $129.5 million against $142 million a year ago. Earnings before taxes were $130.4 million against $142.4 million a year ago. Net earnings were $93.3 million or $0.92 diluted per share against $98 million or $0.91 diluted per share a year ago. Cash flow from operations for the first quarter was $79 million. Operating earnings are down from the year-ago quarter due in large part to the restructuring charge.

For the second quarter of fiscal 2015, the company expects revenues should increase by about 2% versus the year-ago period. Net earnings per diluted share for the second quarter could be in the range of $0.98 to $1.02.

For the fiscal year 2015, the company maintains prior guidance of $4.16 to $4.26 per diluted share. The company continue to expect that the tax rate will be 28% to 30% for the fiscal year. The company also expects operating margin to be 19%.