Profit up 21% at Agilent
May 15, 2006 17:12:00 (ET)
SAN FRANCISCO (MarketWatch) -- Agilent Technologies Inc. reported late Monday that its second-quarter net income rose 21% as it sold more testing and measurement equipment.
Agilent reported its net income was $115 million, or 26 cents a share, up from $95 million, or 19 cents a share, in the same period last year.
Sales rose 12% to $1.43 billion, in line with the consensus estimate of analysts surveyed by Thomson First Call. Total orders rose 21% to $1.58 billion.
Based in Palo Alto, Calif., Agilent (A, Trade) makes a variety of testing and measurement equipment for the electronics, biotech, defense and chemical industries. Last August, the company overhauled its operations to cut costs and to focus on testing gear.
It sold its semiconductor business to Kohlberg Kravis Roberts & Co. and Silver Lake Partners for $2.66 billion and divested its 47% stake in Lumileds Lighting for $950 million cash. It also plans to spin off its chip-equipment-testing unit in an initial public offering later this year.
For the third quarter, Agilent forecasts sales in the range of $1.37 billion to $1.43 billion, up as much as 15% over the year-ago period. Analysts estimate sales of $1.43 billion. |
