Agilent Reports Fourth-Quarter Results
News Nov 18, 2013
Fourth-quarter GAAP net income was $211 million, or $0.63 per share. Last year's fourth-quarter GAAP net income was $425 million, or $1.20 per share.
During the fourth quarter, Agilent had intangible amortization of $48 million, integration and transformation costs of $12 million, one-time separation costs of $5 million and a tax benefit of $9 million. Excluding these items and $4 million of other net charges, Agilent reported fourth-quarter adjusted net income of $271 million, or $0.81 per share(1).
Agilent CEO Bill Sullivan said, "We finished the year with a solid quarter, building backlog and exceeding EPS guidance despite challenges in several of our markets. This reflected our ongoing commitment to actively manage expenses and reduce manufacturing costs in a period of economic uncertainty.
"We are now well into the process of splitting Agilent into two companies, as we announced Sept. 19. We expect to complete the separation in early November 2014."
Electronic Measurement fourth-quarter revenues were down 14 percent compared with the prior year. Operating margins were 19 percent, reflecting solid gross margins and good management of spending in response to continuing challenges in the global economy.
Chemical Analysis revenues were up 4 percent compared with a year ago, led by growth in food and energy markets. Operating margins were 25 percent.
Life Sciences and Diagnostics revenues were up 8 percent over a year ago, with strength in pharmaceuticals and diagnostics markets. Operating margins were 19 percent.
Agilent generated $377 million of cash from operations in the quarter. Fourth-quarter ROIC was 17 percent(3).
First-quarter 2014 revenues are expected to be in the range of $1.68 billion to $1.70 billion. First-quarter non-GAAP earnings are expected to be in the range of $0.65 to $0.67 per share(2).
For the full fiscal year 2014, Agilent expects revenue of $6.95 billion to $7.15 billion and non-GAAP earnings of $3.03 to $3.33 per share(2).
Comments | 0 ADD COMMENT
Like what you just read? You can find similar content on the communities below.Analysis & Separations Applied Sciences Diagnostics Drug Discovery Genomics Research Informatics & Automation Proteomics & Metabolomics
To personalize the content you see on Technology Networks homepage, Log In or Subscribe for FreeLOGIN SUBSCRIBE FOR FREE