SANTA CLARA, Calif. (AP) -- Scientific instrument maker Agilent Technologies Inc. said Wednesday its fiscal first-quarter profit grew 19 percent as sales rose in its life science and chemical analysis divisions.
However the company's stock dropped aftermarket, after it narrowed its fiscal-year profit and sales forecasts.
Agilent said its net income for the three months ended Jan. 31 totaled $230 million, or 65 cents per share, over the three months ended Jan. 31. A year earlier it reported a profit of $193 million, or 54 cents per share. In the latest quarter it earned 69 cents per share excluding amortization, acquisition, and other one-time costs. Revenue rose 8 percent, to $1.64 billion from $1.52 billion
Analysts were forecasting a profit of 69 cents per share and revenue of $1.65 billion, according to estimates compiled by FactSet.
Agilent said revenue from its electronic measurement business edged up 1 percent to $778 million. Life sciences revenue rose 14 percent to $461 million, while chemical analysis revenue increased 13 percent, to $396 million.
The company now forecasts a profit of $3.13 to $3.23 per share on revenue of $6.92 billion to $7.02 billion. In November, Agilent said it expected a profit of $3 to $3.35 a share and revenue of $6.85 billion to $7.15 billion.
Analysts were projecting income of $3.17 per share, on average, with estimates ranging from $3.05 to $3.33.
Wall Street was expecting $6.98 billion in revenue on average, with estimates ranging from $6.8 billion to $7.14 billion.
Agilent Technologies dropped $2.39, or 5.4 percent, to $41.25 in aftermarket trading, after closing the regular session Wednesday down 14 cents at $43.64.
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