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Agilent Technologies Q2 revenue $1.10 billion

Staff Writer |
Agilent Technologies reported revenue of $1.10 billion, up 8 percent year over year (up 9 percent on a core basis) for the second fiscal quarter ended April 30, 2017.




Second-quarter GAAP net income was $164 million, or $0.50 per share. Last year's second-quarter GAAP net income was $91 million, or $0.28 per share.

During the second quarter, Agilent had intangible amortization of $31 million, acquisition and integration costs of $7 million, and $2 million in other costs.

Excluding these items and a tax benefit of $17 million, Agilent reported second-quarter non-GAAP net income of $187 million, or $0.58 per share.

Second-quarter revenue of $523 million from Agilent's Life Sciences and Applied Markets Group (LSAG) grew 6 percent year over year (up 6 percent on a core basis), with double-digit growth in chemical and energy, pharma and environmental markets.

LSAG's operating margin for the quarter was 21.1 percent.

Second-quarter revenue of $378 million from Agilent CrossLab Group (ACG) grew 9 percent year over year (up 10 percent on a core basis).

Both services and consumables continued to see solid growth across all geographies. ACG's operating margin for the quarter was 21.6 percent.

Second-quarter revenue of $201 million from Agilent's Diagnostics and Genomics Group (DGG) grew 13 percent year over year (up 13 percent on a core basis) led by pharma and diagnostic and clinical end-markets. DGG's operating margin for the quarter was 24.2 percent.

Agilent expects third-quarter 2017 revenue in the range of $1.06 billion to $1.08 billion.

Third-quarter non-GAAP earnings are expected to be in the range of $0.49 to $0.51 per share.

For fiscal year 2017, Agilent expects revenue of $4.36 billion to $4.38 billion and non-GAAP earnings of $2.15 to $2.21 per share. The guidance is based on April 28, 2017, currency exchange rates.


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