Reported by: Eric CRWE Newswire Middle East correspondent
Agilent Technologies Inc has raised its expectations for the year end backed by strong 2nd quarter results and profitable acquisition.
Agilent Technologies reported net profits of $205 million or earning per share of $0.58 for the quarter ending July 31st, 2010 as compared to a net loss of $19 million contributing $0.06 per share for the same period last year.
Overall revenue increased by 31 percent to $1.38 billion for the quarter whereas excluding the revenue proceeds of acquired Varian, revenue earned only from Agilent business operations gained 24 percent in the reported quarter. Total orders for Agilent increased by 39 percent to $1.49 billion whereas company’s largest business segment electronic measurements reported profit as compared to loss last year, other business segments such as life sciences and chemical analysis also reported substantial increase in revenues and profits likewise.
The Company’s results surpassed all expectation which were maintained around an EPS of $0.43 to $0.48 with growth in revenues of 16 percent to 19 percent.
On exceptional results for the reported quarter Agilent has increased its expectations of earning per share $1.94 to $1.95 with revenue of $5.4 billion for the fiscal year as compared to earlier earnings forecast of $1.70 to $1.75 with 12 percent increase in revenue. Analysts project revenue to be around $5.38 million with EPS Of $1.82 at the year end.
Agilent president and chief executive officer Bill Sullivan stated, “We had excellent organic growth across all of our instrument platforms and geographies.”
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!
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