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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (13392)	2/17/2004 11:22:55 PM
From: StanX Long	Read Replies (1) \| Respond to of 95757

Semi sales, cost cutting boosts Agilent's quarterly results Silicon Strategies 02/17/2004, 4:40 PM ET PALO ALTO, Calif.--Agilent Technologies Inc. said revenues for its first fiscal quarter were $1.64 billion, 16 percent ahead of last year. First quarter GAAP net earnings were $71 million, or $0.14 per diluted share, compared to a loss of $369 million, or minus $0.78 per share, in last year's first quarter. "We are pleased with our performance in the first quarter of this year," said Ned Barnholt, Agilent chairman, president and chief executive, in a statement. "Stronger economic activity in most of our markets drove these results, coupled with our ability to achieve lower structural costs sooner than anticipated." During the first quarter, semiconductor orders were up 53 percent from last year to the highest levels since the year 2000. Automated test segment orders, while down from the seasonally strong fourth quarter, were up 74 percent from last year. "We are maintaining our prior second quarter guidance of earnings before restructuring and amortization charges in the range of $0.20 to $0.25 per share on revenues of $1.65 billion to $1.70 billion. For the year 2004, we are comfortable with the current range of analyst expectations for both revenues and operating EPS," said Barnholt. It was a banner quarter for the company. First quarter automated test orders of $200 million were 74 percent above one year ago. Sequentially, orders were down 23 percent from the seasonally strong fourth quarter. Revenues of $219 million were 61 percent above last year and down 16 percent from a strong Q4. First quarter profits of $20 million were up $68 million from one year ago on an $83 million increase in revenues. Compared to the fourth quarter, profits were down $25 million on a revenue decline of $41 million. Semiconductor poducts had a strong first quarter, with orders of $582 million, up 53 percent from last year and 18 percent ahead of the seasonally strong fourth quarter. Revenues of $469 million were 28 percent above one year ago and 1 percent ahead of the fourth quarter. Profits of $60 million were $108 million higher than last year on $102 million higher volume. Compared to the fourth quarter, profits were up $20 million on only $6 million higher volume.