Friday, February 21, 2003
Agilent Technologies reported a widened first-quarter loss amid the slowdown in tech spending. To cut cost and return to profitability, it plans to cut 4,000 of its 35,000 employees in the coming months.
Agilent reported a loss of $369 million, or 78 cents a share, in the quarter ending Jan. 31, compared with a loss of $315 million, or 68 cents a share, a year earlier.
The company posted a loss from continuing operations of $112 million, or 24 cents a share, in the first quarter, less than the loss of $317 million, or 68 cents a share, it reported a year ago. Wall Street expected the firm to lose 26 cents a share, according to First Call.
Overall sales fell 1 percent in the first quarter to $1.4 billion. The firm said the job cuts will save $125 million per quarter.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
