Agilent Technologies 4Q profit falls 50 percent

Agilent Technologies 4Q net income falls 50 pct but adjusted results top views, shares rise

Associated Press

NEWS: Agilent Technologies Inc. said Thursday that its fiscal fourth-quarter net income fell 50 percent from a year ago, when its bottom line was boosted by a tax benefit it didn't receive this year. But its adjusted earnings topped expectations and its shares rose in after-hours trading.

DETAILS: Agilent Technologies, which is based in Santa Clara, Calif., and makes scientific instruments, is in the process of spinning off its electronic measurement business into a separate publically traded company. It announced the spinoff in September and plans to complete it in November 2014.

NUMBERS: Net income fell to $211 million, or 63 cents per share, in the quarter ending Oct. 31. That compares with $425 million, or $1.20 per share, in the same quarter a year ago.

Adjusted to remove one-time items, it had earnings of 81 cents per share.

Analysts expected adjusted earnings of 76 cents per share, according to FactSet.

Revenue fell 3 percent to $1.72 billion from $1.77 billion.

Analysts expected revenue of $1.71 billion.

For the fiscal year 2013 that ended Oct. 31, the company reported net income of $724 million, or $2.10 per share, compared with $1.15 billion, or $3.27 per share, a year ago. Revenue slipped 1 percent to $6.78 billion from $6.86 billion.

Analysts expected earnings of $2.84 per share and revenue of $6.77 billion.

FUTURE: For the fiscal first quarter, the company expects adjusted earnings between 65 cents and 67 cents per share and revenue between $1.68 billion and $1.70 billion.

Analysts expected adjusted earnings of 73 cents per share and revenue of $1.72 billion.

For the fiscal year 2014, the company expects adjusted earnings between $3.03 per share and $3.33 per share and revenue between $6.95 billion and $7.15 billion.

Analysts expect earnings of $3.17 per share and revenue of $7.03 billion.

STOCK: Up $2.71, or 5.4 percent, to $53.36 in after-hours trading Thursday. They fell 66 cents, or 1.3 percent, to $50.54 during normal trading hours.

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