UPDATE: Agilent (A) Tops Q3 EPS by 6c, Offers Guidance

August 14, 2013 4:06 PM EDT
(Updated - August 14, 2013 4:16 PM EDT)

Agilent Technologies, Inc. (NYSE: A) reported Q3 EPS of $0.68, $0.06 better than the analyst estimate of $0.62. Revenue for the quarter came in at $1.65 billion versus the consensus estimate of $1.64 billion.

Agilent Technologies, Inc. sees Q4 2013 EPS of $0.75-$0.77, versus the consensus of $0.76. Agilent Technologies, Inc. sees Q4 2013 revenue of $1.7-1.72 billion, versus the consensus of $1.73 billion.

Non-GAAP earnings guidance at $2.83 to $2.85 per share vs $2.78 consensus.
Fiscal year 2013 revenue guidance of $6.76 billion to $6.78 billion vs $6.78 billion consensus.

Agilent CEO Bill Sullivan said, “Although we are operating in a very challenging economic environment, we are pleased with our operational performance, as we continue to make progress improving our manufacturing efficiency and streamlining our expense structure. The result has been better than forecasted operating margins.”

Electronic Measurement third-quarter revenues were down 17 percent compared with the prior year, with continuing weakness in wireless manufacturing. Operating margins were 18 percent.

Chemical Analysis revenues were up 1 percent compared with a year ago, led by growth in food and energy markets. Operating margins were 22 percent.

Life Sciences revenues were up 3 percent over a year ago, with strength in pharmaceutical end-markets. Operating margins were 17 percent.

Diagnostics and Genomics revenues grew 54 percent, up 6 percent adjusting for the effects of the Dako acquisition. Operating margins were 15 percent.

Agilent generated $215 million of cash from operations in the quarter. Third-quarter ROIC was 15 percent(3).

For earnings history and earnings-related data on Agilent Technologies, Inc. (A) click here.

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