Agilent Technologies Reports Third-Quarter 2011 Results

Agilent Technologies Inc. (NYSE: A) reports revenues of $1.69 billion for the third fiscal quarter ended July 31, 2011, 22 percent above one year ago, or 19 percent excluding the effects of acquisitions and divestitures(3). Third-quarter GAAP net income was $330 million, or $0.92 per share. Last year’s third-quarter GAAP net income was $205 million, or $0.58 per share.

During the third quarter, Agilent had intangible amortization of $29 million, acquisition and integration costs of $11 million, and restructuring and transformational charges of $13 million. The company also recognized a tax benefit of $105 million. Excluding these items and $2 million of other net credits, Agilent reported third-quarter adjusted net income of $276 million, or $0.77 per share (1).

Bill Sullivan, Agilent president and CEO, said, “We had another quarter of very good results. Demand for Agilent products remained strong, with key product platforms experiencing solid growth.”

Sullivan said, “Agilent is in a strong position going forward. We continue to invest heavily in R&D to deliver the best products and solutions for our customers, and we are well positioned to capitalize on market opportunities, despite uncertainties in the economy.”