Agilent Technologies Reports First Quarter 2010
l GAAP net income of $79 million, or $0.22 per share
l Non-GAAP earnings of $135 million, or $0.38 per share(1)
l Orders of $1.22 billion, up 9 percent from last year; revenue of $1.21 billion, up 4 percent from one year ago
l Restructuring actions to achieve $525 million of annualized savings nearly completed
l Second quarter non-GAAP earnings guidance of $0.38 - $0.42 per share compares to $0.13 one year ago(3)
l Full fiscal year 2010 revenues expected to rise roughly 10 percent, and non-GAAP earnings to be in the
range of $1.65 - $1.70 per share.
February 12, 2010 08:03 AM Eastern Time
SANTA CLARA, Calif.--(EON: Enhanced Online News)--Agilent Technologies Inc. (NYSE: A) today reported
revenues of $1.21 billion for the first fiscal quarter ended Jan. 31, 2010, 4 percent above one year ago. First quarter
GAAP net income was $79 million, or $0.22 per diluted share. Last year’s first quarter GAAP net income was $64
million, or $0.18 per share.
During the first quarter, Agilent had restructuring and asset impairment charges of $48 million and $10 million of non-
cash amortization. Excluding these items and $2 million of other net charges, Agilent reported first quarter adjusted
net income of $135 million, or $0.38 per share. On a comparable basis, the company earned $72 million, or $0.20
per share, one year ago.
“The economic momentum Agilent began to see late last year continued in our fiscal first quarter,” said Bill Sullivan,
Agilent president and chief executive. “First quarter revenues of $1.21 billion were up sequentially for the second
consecutive quarter, and were 4 percent above one year ago.”
First quarter Electronic Measurement revenues were down 2 percent from one year ago, but orders were up 8
percent, with solid demand from industrial, computer and semiconductor. Chemical Analysis revenues were 13
percent above one year ago, while orders were up 12 percent. Life Sciences revenues were 10 percen