Varian, Inc. Settles Patent Infringement Suit
Varian, Inc. announced that it has settled a previously disclosed patent infringement suit brought against it by Unaxis Balzers Aktiengesellschaft. Under the terms of the global settlement, the company will be making a one-time payment of $1.1 million to Unaxis Balzers.
Unaxis Balzers had alleged in the patent infringement suit, which has been pending in the U.S. District Court in Massachusetts since 2001, that a Varian, Inc. Vacuum Technologies leak detection system introduced in 1997 infringed U.S. Patent No. 4,472,962. That patent expired in 2001.
As a result of the one-time charge for this settlement payment, the company now expects GAAP diluted earnings per share for the fourth quarter of fiscal year 2003 to be between $0.28 and $0.32. Excluding this settlement and previously announced anticipated restructuring costs, the company continues to expect that pro forma diluted earnings per share will be between $0.37 and $0.40.
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