Agilent Technologies revenue up 2% at $1.72 billion in Q3 FY12
Telecom Lead America: Test and Measurement major Agilent
Technologies has posted net revenue of $1.72 billion for the third quarter
ended July 31, 2012, up 2 percent, as compared to $1.69 billion for the year
Net income for the quarter stood at $243 million, plunged
26 percent, as compared to $330 million for the third quarter of previous fiscal
The company’s operating expenses accounted for $1.45
billion, up 3 percent, against $1.41 billion for the year earlier period.
Speaking on the results, Bill Sullivan, Agilent president
and CEO, said that the company’s performance in the fiscal third quarter did
not meet revenue and EPS guidance. Agilent has clearly entered an
environment of much slower growth, resulting in deals taking longer to close
and customers delaying their order deliveries.
During the third quarter, Agilent had intangible
amortization of $32 million, acquisition and integration costs of $41 million,
and asset impairment and write-down charges of $15 million.
Revenues for Electronic Measurement were down 1 percent
over the prior year at $845 million and orders for the segment orders declined
4 percent at $811 million for the quarter, as compared to $842 million for the
year earlier period.
Revenues for Chemical Analysis were flat with a year ago
and Orders were down 7 percent. Life Sciences revenues grew 2 percent over last
year, while orders declined 2 percent year over year.
Diagnostics and Genomics, which include the recent Dako
acquisition, had revenues of $106 million.
The company said that growth in communications was driven
by wireless manufacturing and was offset by weaker aerospace and defense and
The company said that fourth-quarter 2012 revenues are
expected to be in the range of $1.76 billion to $1.78 billion.
Recently, Agilent Technologies completed the acquisition
of the Test Systems business assets of AT4 wireless.
The acquisition is critical for strategy of Agilent to
be the test solution vendor of choice for the leading device suppliers.