18 Feb 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Agilent Technologies reported revenues of $1.68 billion for the first fiscal quarter ending January 31, 2013, a three percent rise as compared to the previous period a year ago. First-quarter GAAP net income was $179 million, or $0.51 per share. Last year's first-quarter GAAP net income was $230 million, or $0.65 per share.
During the first quarter, Agilent had intangible amortization of $52 million and acquisition, integration and transformation costs of $13 million. The company also recognized a tax benefit of $27 million. Excluding these items and $5 million of other net charges, Agilent reported first-quarter adjusted net income of $222 million, or $0.63 per share.
Electronic measurement division's first-quarter revenues declined seven percent when compared with the prior year, primarily due to an anticipated decrease in the communications market. Operating margins were 17 percent. Chemical analysis division's revenues were down one percent when compared with a year ago, driven by soft environmental markets. Operating margins were 21 percent. Life sciences division's revenues were up two percent over a year ago. Pharma division saw modest growth, while academic and government markets were flat. Operating margins were 15 percent.
Diagnostics and genomics division's grew 145 percent, four percent excluding the effects of the Dako acquisition. Operating margins were 13 percent. Agilent generated $245 million of cash from operations in the quarter. First-quarter ROIC was 14 percent. Second-quarter 2013 revenues are expected to be in the range of $1.74 billion-to-$1.77 billion. Second-quarter non-GAAP earnings are expected to be in the range of $0.64-to-$0.70 per share. For the full fiscal year 2013, Agilent now expects revenue of $6.9 billion to $7.1 billion and non-GAAP earnings of $2.70 to $3.00 per share.
Mr Bill Sullivan, CEO, Agilent, said that, "While we currently face some volatility in our end-markets, we remain excited by our long-term prospects, including opportunities in emerging markets. Agilent will continue to invest in R&D to ensure that we maintain the cutting-edge products and technology leadership that our customers expect from us."