Agilent Technologies Inc. Earnings: Fifth Consecutive Quarter of Double-Digit Revenue Growth
S&P 500 (NYSE:SPY) component Agilent Technologies Inc. (NYSE:A) reported higher profit for the second quarter as revenue showed growth. Agilent Technologies, Inc. is a company focused on the design and manufacturing of core bio-analytical and electronic measurement solutions. It serves customers in sectors such as communications, electronics, life sciences and chemical analysis.
Agilent Technologies Earnings Cheat Sheet for the Second Quarter
Results: Net income for Agilent Technologies Inc. rose to $200 million (56 cents/share) vs. $108 million (31 cents/share) in the same quarter a year earlier. A rise of 85.2% from the year earlier quarter.
Revenue: Rose 31.9% to $1.68 billion YoY.
Actual vs. Wall St. Expectations: A fell short of the mean analyst estimate of 65 cents/share. Estimates ranged from 63 cents per share to 66 cents per share.
Quoting Management: Bill Sullivan, Agilent president and CEO, said “We had another quarter of excellent results as the growth momentum continued across all our businesses.”
The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 27.9%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 35% from the year earlier quarter.
Gross margin shrunk 2.3 percentage points to 53.7%. The contraction appeared to be driven by rising costs as the figure rose 38.8% from the year earlier quarter while revenue rose 31.9%.
Competitors to Watch: LeCROY Corporation (NASDAQ:LCRY), Danaher Corporation (NYSE:DHR), Wireless Telecom Group, Inc. (AMEX:WTT), Thermo Fisher Scientific Inc. (NYSE:TMO), National Instruments Corp (NASDAQ:NATI), Life Technologies Corp. (NASDAQ:LIFE), JDS Uniphase Corporation (NASDAQ:JDSU), Spirent Communications Plc (SPMYY), PerkinElmer, Inc. (NYSE:PKI), and Aeroflex Holding Corp. (NYSE:ARX).
Stock Performance: Shares of A are up 7.7% from the previous close of $50.33.