Varian Associates of Palo Alto reported a...
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Varian Associates of Palo Alto reported a net loss of $17.6 million for the first quarter of fiscal 1988, despite 23% revenue increase. Those results include a one-time, pretax charge of $35 million for a restructuring and consolidation program announced in December, 1987. In last year’s first quarter, Varian reported net earnings of $7.9 million. Chairman Thomas D. Sege said business conditions improved for all of the company’s major product lines.
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