UPDATE: Agilent Posts 47% Rise In FQ4 Profit, Issues Weak Forecast
Agilent Technologies (NYSE: A) reported a 47% rise in its fiscal fourth-quarter profit and issued weak forecast.
For the year, Agilent projects adjusted earnings of $2.80 to $3.10 per share on revenue of $7 billion to $7.2 billion. However, analysts were expecting earnings of $3.33 per share on revenue of $7.16 billion.
For the current quarter, the company expects earnings of $0.65 to $0.67 per share on revenue of $1.68 billion to $1.7 billion. However, analysts were expecting earnings of $0.75 per share on revenue of $1.76 billion.
Agilent's quarterly profit surged to $425 million, or $1.20 per share, from $289 million, or $0.82 per share, in the year-ago period. Excluding one-time items, Agilent earned $0.86 per share.
Its revenue rose 2.3% to $1.77 billion. Agilent had expected earnings of $0.80 to $0.82 per share on revenue of $1.76 billion to $1.78 billion.
Agilent's operating margin declined to 15.7% from 18.1%.
Agilent shares dropped 1.36% to $37.00 in after-hours trading.
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