Keysight Technologies (NYSE: KEYS) reported Q4 EPS of $1.33, $0.15 better than the analyst estimate of $1.18. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.09 billion.

Fourth Quarter Financial Summary

• GAAP revenue grew 7 percent to reach $1.120 billion, when compared with $1.047 billion last year.
• Non-GAAP revenue grew 7 percent to reach $1.122 billion. Non-GAAP core revenue, which also excludes the impact of foreign currency changes and revenue associated with businesses acquired or divested within the last twelve months, increased 7 percent.
• GAAP net income was $195 million, or $1.02 per share, compared with GAAP net loss of $114 million, or $(0.61) per share, in the fourth quarter of 2018.
• Non-GAAP net income was $254 million, or $1.33 per share, compared with $193 million, or $1.01 per share in the fourth quarter of 2018.
• As of October 31, 2019, cash and cash equivalents totaled $1.598 billion.

“Keysight delivered a very strong finish to the year with both revenue and earnings exceeding the high-end of our guidance for the quarter. Record-setting quarterly and annual revenue was driven by growth across our portfolio of differentiated solutions, and broad-based momentum across multiple end markets. We continued to execute on our strategy and growth initiatives, while exceeding our commitments to customers and shareholders,” said Ron Nersesian, Keysight president and CEO.

GUIDANCE:

Keysight Technologies sees FY2020 revenue of $1.045-1.065 billion, versus the consensus of $1.05 billion.

For earnings history and earnings-related data on Keysight Technologies (KEYS) click here.