Friday, August 13, 2004
Agilent Technologies Inc. reported net earnings of $100 million on sales of $1.89 billion in the fiscal third quarter ended July 31, compared to a net loss of $1.56 billion on sales of $1.89 billion in the year-ago fiscal third quarter.
Third quarter 2004 results reflected $54 million for restructuring and amortization charges, while year-ago third quarter results reflected a $1.45 billion non-cash charge related to the write-off of deferred tax assets.
Agilent's test and measurement sector saw particularly strong growth, with orders of $776 million up 37 percent over a year ago and revenue of $768 million up 25 percent. Orders were at the highest level since early 2001, according to the company. Agilent's semiconductor sector also saw a year-over-year rise in orders.
"We are pleased with Agilent's third quarter results," said Ned Barnholt, Agilent's chairman, president and chief executive, in a statement. "Revenues, at $1.89 billion, were near the top of our expectations while operating earnings hit the top end of our guidance range at 30 cents per share.
Looking to the fiscal fourth quarter, Barnholt said, "We are seeing a pause in Agilent's semiconductor and semiconductor equipment businesses that may continue through year-end before we see renewed growth in fiscal 2005.
Agilent's fourth quarter guidance is for revenue of $1.85 billion to $1.95 billion and operating earnings of 30 to 35 cents per share.
By: DocMemory
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