The $150 million net income was up 14 percent sequentially but down 95 percent year-to-year. During the same period of fiscal 2006, Agilent posted net earnings of $2.82 billion, or $5.83 per diluted share, thanks to the sale of its semiconductor products business.

Agilent said first quarter adjusted net income from continuing operations, excluding stock-based compensation, $24 million of tax and other net gains, was $162 million, up from $142 million on a comparable basis for the same period of fiscal 2006.

"We met expectations for revenues and earnings growth, with notable strength across our bio-analytical measurement portfolio, and despite significant weakness in wireless handset test," said Bill Sullivan, Agilent president and CEO, in a statement.  

For the current quarter, the company said it expects revenues of $1.3 billion to $1.34 billion, which would be an increase of 5 to 8 percent from the same period last year. Adjusted net income is expected to be in the range of 41 to 45 cents per share, which would be a year-to-year increase of 14 to 25 percent.

By: DocMemory
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