Agilent Q3 Profit Tops Estimate; Q4 Outlook Weak

(RTTNews) - Agilent Technologies Inc. (A) reported net income for the third quarter of $103 million or $0.31 per share, compared to $147 million or $0.43 per share for the year-ago quarter.

Income from continuing operations for the third quarter was $105 million or $0.31 per share, compared to $63 million or $0.19 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations for the latest quarter was $147 million or $0.44 per share.

Net revenue for the third quarter rose 1% to $1.014 billion from $1.009 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.41 per share on revenue of $1.00 billion for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts revenue of $1.03 billion to $1.05 billion and adjusted earnings of $0.45 to $0.49 per share. Analysts currently expect the company to earn $0.50 per share on revenue of $1.06 billion for the fourth quarter.

For fiscal year 2015, Agilent now expects revenue of $4.03 billion to $4.05 billion and adjusted earnings of $1.68 to $1.72 per share. Previously, the company forecast revenue of $4.05 billion to $4.11 billion and adjusted earnings of $1.67 to $1.73 per share.

Analysts currently expect the company to earn $1.70 per share on revenue of $4.06 billion for the fiscal year 2015.