SANTA CLARA, Calif. (AP) -- Scientific instrument maker Agilent Technologies Inc. said Monday that its fiscal second-quarter net income rose 28 percent on stronger orders and higher revenue, beating Wall Street expectations and sending shares up nearly 3 percent in after-hours trading.
Agilent Technologies said that orders rose 8 percent during the quarter. Orders in the electronic measurement division jumped 13 percent from last year, driven by wireless manufacturing.
Overall, during the quarter ended April 30 Agilent earned $255 million, or 72 cents per share, up from $200 million, or 56 cents per share, in the same period last year.
The company also reported adjusted net income, excluding one-time items like acquisition costs, of 78 cents per share. That widely beat analyst expectations for adjusted income of 73 cents per share, according to a survey by FactSet.
Revenue rose 3 percent to $1.73 billion from $1.68 billion in the prior year period. Analysts had been expecting $1.71 billion.
"Our second-quarter performance demonstrated our ability to deliver strong results despite a challenging economic climate," CEO Bill Sullivan said in a statement.
Looking ahead, the company said its third-quarter sales will be higher than analysts expected, though adjusted earnings will be toward the low end, or below, expectations. Agilent forecast revenue between $1.77 billion and $1.79 billion and adjusted earnings per share between 82 cents and 84 cents. Analysts were expecting $1.76 billion and adjusted income of 84 cents per share, according to FactSet.
For the full year, the company expects revenue between $6.94 billion and $7 billion, while adjusted net income will be between $3.18 and $3.24 per share. That's a narrower range than the $3.13 to $3.23 per share it previously forecast.
Analysts are expecting adjusted income of $3.19 per share on revenue of $6.95 billion for the full year.
Shares rose $1, or 2.6 percent, to $39.90 in late trading, reversing a decline of fell 55 cents during regular trading. The stock has traded between $28.67 and $53 over the last year.
