Net income for the first quarter ended on Jan. 31 climbed to $2.82 billion, or $5.83 per share, from $103 million, or 21 cents per share, a year earlier.

During the first quarter, Agilent sold its semiconductor products business to two private equity firms for $2.7 billion and its 47 percent share of lighting firm Lumileds to Philips Electronics for about $1 billion.

Excluding a pretax gain of $2.7 billion, related to the sale, and other items, earnings were $154 million, or 32 cents per share. Analysts on average had forecast 30 cents, according to Reuters Estimates.

Net income also included $63 million in charges for the planned spinoff of Agilent's semiconductor test solutions unit and the reduction of infrastructure costs.

Looking ahead, Agilent said it expects second quarter revenue in the range of $1.37 billion to $1.43 billion, up 6 to 12 percent from last year, and in line with analysts forecast of $1.39 billion, according to estimates.

By: DocMemory
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