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SECURITY: A (Common)
EXCHANGE: New York Stock Exchange CURRENCY: US Dollar
Agilent Technologies Inc.
(NYSE: A) is a global technology leader in communications, electronics
and life sciences. The company’s 35,000 employees serve customers in more
than 110 countries
Agilent
Technologies Reports First Quarter 2006 Results
PALO
ALTO, Calif., Feb. 13, 2006
Agilent
Technologies Inc. (NYSE: A) today reported orders of $1.35 billion for
the first fiscal quarter ended Jan. 31, 2006, 15 percent above one year
ago. Revenues during the quarter were $1.34 billion, 10 percent above last
year. First quarter GAAP net earnings were $2.82 billion, or $5.83 per
diluted share, compared with $103 million, or $0.21 per share, in last
year's first quarter.
During
the first quarter, Agilent sold its Semiconductor Products business for
$2.7 billion and its 47 percent share of Lumileds for approximately $1.0
billion. The pre-tax gain on the sale of these businesses was approximately
$2.7 billion. Also included in GAAP results are $63 million of charges
related to the planned spin-off of Semiconductor Test Solutions (STS) and
the reduction of Agilent's infrastructure costs. Excluding these charges
and $36 million of non-cash stock compensation expenses, Agilent reported
first quarter adjusted net income of $154 million, or $0.32 per share.
On a comparable basis, the company earned $71 million, or $0.15 per share,
one year ago.(1)
"We
are pleased with Agilent's performance in the first quarter of 2006," said
Bill Sullivan, Agilent president and chief executive officer. "We successfully
completed the semiconductor-related divestitures and a self-tender offer
that returned $3 billion of cash to our owners. Operationally, we also
performed to our commitments, with revenues and adjusted net income at
the high end of our expectations after reflecting fewer shares outstanding
during the quarter."
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