InPlay: Agilent beats by $0.05, beats on revs; guides JulQ EPS in-line, revs above consensus; guides FY12 EPS in-line, revs in-lineBriefing.com (Mon 4:10PM EDT)
Agilent Technologies Reports Second-Quarter 2012 Results Highlights:
GAAP net income of $255 million, or $0.72 per share Non-GAAP net income of $275 million, or $0.78 per share(1) Orders of $1.84 billion, up 8 percent year-over-year. Revenues of $1.73 billion, up 3 percent from one year ago Third-quarter fiscal year 2012 revenue guidance of $1.77 billion - $1.79 billion and non-GAAP earnings guidance of $0.82 - $0.84 per share(2) Fiscal year 2012 revenue guidance of $6.94 billion - $7.00 billion. Non-GAAP earnings guidance at $3.18 - $3.24 per share(2)  Press Release: Agilent Technologies Inc. – 1 hour 52 minutes ago
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SANTA CLARA, Calif.--(BUSINESS WIRE)--
Agilent Technologies Inc. (NYSE:A) today reported revenues of $1.73 billion for the second fiscal quarter ended April 30, 2012, 3 percent above one year ago. Second-quarter GAAP net income was $255 million, or $0.72 per share. Last year’s second-quarter GAAP net income was $200 million, or $0.56 per share.
During the second quarter, Agilent had intangible amortization of $26 million, transformational charges of $8 million, and acquisition and integration costs of $6 million. The company also recognized a tax benefit of $11 million. Excluding these items and $9 million of other net benefits, Agilent reported second-quarter adjusted net income of $275 million, or $0.78 per share (1).
Bill Sullivan, Agilent president and CEO, said, “Our second-quarter performance demonstrated our ability to deliver strong results despite a challenging economic climate.”
Electronic Measurement second-quarter revenues were up 5 percent over the prior year. Orders were up 13 percent from the same period last year. Growth was driven by wireless manufacturing.
Chemical Analysis revenues were 2 percent above one year ago. Orders were up 7 percent. Growth continued in key end markets, including petrochemical and food.
Life Sciences revenues grew 1 percent over last year, while orders declined 1 percent year over year. Solid performance in pharma was offset by weakness in academia and government.
Second-quarter ROIC was 26 percent(3). Agilent generated $353 million of cash from operations in the quarter.
Fiscal third-quarter 2012 revenues are expected to be in the range of $1.77 billion to $1.79 billion. Fiscal third-quarter non-GAAP earnings are expected to be in the range of $0.82 to $0.84 per share (2).
Agilent expects full fiscal-year 2012 revenue of $6.94 billion - $7.00 billion, and a tightened range of non-GAAP earnings of $3.18 - $3.24 per share (2).
About Agilent Technologies
Agilent Technologies Inc. (NYSE:A) is the world’s premier measurement company and a technology leader in chemical analysis, life sciences, electronics and communications. The company’s 18,700 employees serve customers in more than 100 countries. Agilent had net revenues of $6.6 billion in fiscal 2011. Information about Agilent is available on the Web at www.agilent.com.
Agilent’s management will present more details about its second-quarter FY2012 financial results on a conference call with investors today at 1:30 p.m. (Pacific). This event will be webcast live in listen-only mode. Listeners may log on at www.investor.agilent.com and select “Q2 2012 Agilent Technologies Inc. Earnings Conference Call” in the “News & Events - Calendar of Events” section. The webcast will remain available on the company’s website for 90 days.
Additional investor materials can be found on cts.businesswire.com.
A telephone replay of the conference call will be available at 3:30 p.m. (Pacific) today through May 21, 2012. The replay number is +1 888 286-8010; international callers may dial +1 (617) 801-6888. The passcode is 38368567.
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