logo
  Join        Login             Stock Quote

Agilent Technologies (A) Drops After Downbeat Q1 Results, Forecast

 February 14, 2013 05:15 PM
 


Agilent Technologies Inc. reported a 22% drop in quarterly earnings due to higher costs and expenses. Further, the bio- analytical and electronic measurement services provider guided second quarter below consensus, sending its shares down 7.81% in aftermarket.

Earnings for the first quarter were $179 million or $0.51 per share, down from $230 million or $0.65 per share in the previous year quarter. Adjusted earnings per share (EPS) fell to $0.63 from $0.69.

Net revenue rose 3% to $1.68 billion. Orders increased 5% to $1.71 billion.

Analysts, on average, polled by Thomson Reuters had expected a profit of $0.67 per share on revenue of $1.69 billion for the first quarter.

Revenue from life sciences increased 1.5% to $401 million as pharma saw modest growth and academic/government markets were flat, while chemical analysis revenue declined 0.5% to $394 million driven by soft environmental markets.

[Related -Agilent (A) Options Active As Shares Hit Highest Since '01]

Electronic measurement revenue fell 7.2% to $722 million due to an anticipated decrease in the communications market, while diagnostics and genomics revenue grew to $163 million from $66 million.

Looking ahead into the second quarter, the company expects adjusted EPS of $0.64 to $0.70 and revenue of $1.74 billion to $1.77 billion, while Street predicts EPS of $0.74 on revenue of $1.79 billion.

For the fiscal 2013, the company lowered its adjusted EPS guidance to range of $2.70 to $3.00 from previous forecast of $2.80 to $3.10. Agilent also cut its revenue outlook to range of $6.9 billion to $7.1 billion from previous estimate of $7.0 billion to $7.2 billion. Street analysts predict EPS of $3.05 on revenue of $7.12 billion.

[Related -Stocks End Higher Amid Data; Apple (AAPL) Off Over 3 Pct]

A closed Thursday's regular session down 0.38% at $44.58. The stock has been trading between $35.32 and $46.28 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChart Says This Retailer's Comeback Isn't Finished

One of the surprises, at least on the surface, of the market's recent swoon was the outperformance of read on...

article imageETF Performance Review: Major Asset Classes | 19 Dec 2014

It’s all about real estate investment trusts (REITs) these days when it comes to bullish performance among read on...

article imageOil and Global Stock Markets Rebounding Sharply

So far so good on our expectation of a 4 to 5% pullback and then a resumption of the bull read on...

article imageGrading the FOMC

Love its members or loathe them, you have to admire the gradual impact the policy-making committee has had read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.