Agilent Beats Q3 Expectations

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Agilent Technologies Inc
A
reported upbeat earnings for its fiscal third quarter on Monday. However, the company issued a weak forecast. The Santa Clara, California-based company posted a quarterly profit of $103 million, or $0.31 per share, compared to $147 million, or $0.43 per share, in the year-ago period. Excluding one-time items, the company's adjusted income from continuing operations came in at $0.44 per share. Its revenue rose 1 percent year-over-year to $1.01 billion. However, analysts were expecting earnings of $0.41 per share on revenue of $1 billion. The average estimate among 14 Estimize users was for earnings of $0.41 per share and revenue of $1.0 million. Revenue from Agilent's Life Sciences and Applied Markets Group gained 1 percent to $511 million, while revenue from the Agilent CrossLab Group came in flat at $336 million during the quarter. Revenue from Agilent's Diagnostics and Genomics Group also came in flat at $167 million for the quarter. Its orders slipped 6 percent to $953 million. "Agilent delivered excellent results for our shareholders in the third quarter," said Mike McMullen, Agilent president and CEO. "Revenue was at the high end of our guidance, and earnings per share were above our guidance range." For the current quarter, Agilent expects earnings of $0.45 to $0.49 per share, on revenue of $1.03 billion to $1.05 billion. Analysts projected earnings of $0.50 per share on revenue of $1.06 billion. For the full year, Agilent projects earnings of $1.68 to $1.72 per share, on revenue of $4.03 billion to $4.05 billion. Analysts expected earnings of $1.70 per share on revenue of $4.06 billion. Agilent shares fell 0.15 percent to $38.76 in the after-hours trading session.
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