SiliconBeat

Varian, the Palo Alto supplier of scientific instruments and vacuum technologies for life science and industrial applications, said Tuesday that its fiscal year 2008  results would be better than originally forecast. “Sales should exceed $1 billion, with strong orders and excellent execution during the fourth quarter,” the company crowed in its release this morning. Diluted earnings per share should exceed $2.80, the company said, compared to its prior guidance of $2.74, plus or minus a nickel.

“We are pleased with our execution in the fourth quarter and have substantially overcome the issues we had in the third quarter,” said the company’s chief executive, Garry W. Rogerson. “We saw strong orders and sales as the quarter progressed. With strong total company orders in the quarter and a large backlog in high-field magnet-based systems, we are in a good position going into fiscal year 2009.”

The news, issued before the market opened Tuesday, helped send the company’s shares up $4.57, or 13.9 percent, to $37.56. They have fallen 42 percent in value so far this year. The company said it will report results for the quarter and year just ended on Oct. 29.