Agilent (A)
I'd again like to make my case for Agilent to be added to your list of stocks you follow. I also think it should be on the List that Cary has of quality companies. One thing missing from Cary's list is biotechnology which Agilent would address. IF new computers that replace those made with AMAT equipment turn out to be genetic... Agilent will have a head start on the testers as well.
Anyway, Agilent is up 10% or so today after announcing earnings.
Key statements I heard during the conference call:
*Book-to-bill increased from 0.8 to 1.03. Good gains in market share in semiconductor test.
``I think more important than beating the numbers is the fact their book-to-bill turned positive for the first time in 6 quarters,'' said ABN AMRO analyst William Potter, referring to the level of orders, at $1.47 billion, rising above sales shipped, at $1.43 billion.
President and Chief Executive Ned Barnholt said sales and orders for semiconductors and semiconductor test equipment used by personal computer makers among others, had been the first to fade in the downturn and were the first to perk up.
``We think we've come off the bottom. We're still skeptical to say business has recovered,'' he said in a telephone interview. Telecommunications customers would start recovering late this year and early next, he predicted.
Cancellations by Agilent's customers, which had risen as the downturn gathered speed, fell to $80 million from $250 million the previous quarter, but Barnholt did not see many customers who had delayed orders for more than six months returning yet.
Agilent said it was on track to cut its work force by 18 percent by mid-2002, in line with a program announced in 2001, and would return to profit sometime in its third quarter.
It also said it was taking market share.
stockcharts.com[h,a]dhclyymy[d20010601,20021231][pc20,50!d20,2!f][pc20!c50!i!d20,2!b100!b200!f][vc60][iut!Uo14!La12,26,9!Lh14,3!Lc20]
$30 will take some work as this PnF indicates stockcharts.com
Note that $26 was 50% retrace of the run from the bottom |
