Varian Medical expects higher 2008 profit

The company, which X-Ray and cancer therapy products, said it expects a 22 percent earnings-per-share boost for the full year ending in September. With earnings of $1.83 per share a year prior, the outlook implies full-year profit of about $2.23 per share.

Meanwhile, it expects revenue to rise between 17 percent and 18 percent from last year's $1.78 billion.

Analysts polled by Thomson Financial expect profit of $2.11 per share on revenue of $2.05 billion, an increase of 15 percent over 2007 revenue.

Shares rose $4.22, or 7.9 percent to $57.50 in after-hours trading after rising 82 cents to close at $53.28 during the regular trading session.