<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 20,
1994
VARIAN ASSOCIATES, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 1-7598 94-2359345
(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification No.)
Incorporation)
3050 Hansen Way, Palo Alto, CA 94304-1000
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (415) 493-
4000
Inapplicable
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
<PAGE>
Item 5. Other Events.
On October 20, 1994, the registrant announced that it
will seek a buyer for its Electron Devices operations and issued
a press release announcing this development. A copy of this
press release is attached hereto as Exhibit 99.1 and incorporated
herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
99.1 -- Press Release of Varian Associates, Inc.
issued on October 20, 1994.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
VARIAN ASSOCIATES, INC.
(Registrant)
Date: October 20, 1994 By: /s/ Joseph B. Phair
Joseph B. Phair
Vice President, General
Counsel and Secretary
<PAGE>
EXHIBIT INDEX
Exhibit Number Exhibit
99.1 Press Release of Varian Associates, Inc.
issued on October 20, 1994.
VARIAN TO SELL ONE OF FOUR CORE BUSINESSES
Palo Alto, Calif. -- Varian Associates, Inc., today
announced that it will seek a buyer for its Electron
Devices operations, the smallest and oldest of its four
core businesses.
According to J. Tracy O'Rourke, Varian's chairman and
chief executive, the business to be offered for sale has
assets approaching $150 million. In fiscal 1994, it posted
sales of $275 million and had pretax earnings of $18
million.
Varian's Electron Devices business produces vacuum
tubes, power supplies, amplifiers and other products,
largely for communications, medical, and defense markets.
It is staffed by some 1,700 persons, primarily at plants in
Palo Alto, San Carlos, and Santa Clara, Calif.; Beverly,
Mass.; and Georgetown, Canada.
According to O'Rourke, the decision to sell the
smallest of its four major business segments allows Varian
to exit what is essentially a components business and
intensify its focus on faster growing equipment segments
serving the health care, semiconductor equipment, and
instruments markets. He emphasized, however, that the sale
would not go forward unless a price was achieved that
recognized the increased profitability and improving value
Varian's Electron Devices activities have attained in
recent years.
The investment banking firm of Morgan Stanley & Co.
Inc. has been retained to identify potential buyers and
assist with the sale. O'Rourke said the bulk of the sale
proceeds would be earmarked for the repurchase of
additional Varian shares, although some of the funds could
also be used for selected acquisitions to expand the three
remaining core businesses.
In a separate announcement made earlier today, Varian
reported that its orders, sales, and profits all hit
all-time highs in fiscal 1994. The 46-year-old technology
company had net earnings of $79.4 million on sales of $1.5
billion for FY94.
