Agilent Technologies Q1 Adj. Profit Tops View; Cuts FY14 Outlook - Quick Facts

(RTTNews) - Agilent Technologies Inc. (A) Thursday reported first-quarter net income of $195 million or $0.58 per share, compared to $179 million or $0.51 per share in the same period last year.

Non-GAAP net income for the latest first quarter rose to $226 million or $0.67 per share from $222 million or $0.63 per share in the comparable quarter last year. On average, 15 analysts polled by Thomson Reuters expected the company to earn $0.66 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues were $1.679 billion, compared with $1.680 billion last year. Analysts expected revenues of $1.69 billion.

Looking ahead to the second quarter, the company has forecast adjusted earnings in the range of $0.71 to $0.73 per share, with revenues ranging between $1.72 billion and $1.74 billion. Analysts currently expect the company to earn $0.81 per share on second-quarter revenues of $1.78 billion.

For the fiscal year 2014, Agilent now expects adjusted earnings in the order of $2.96 to $3.16 per share, with revenues in the range of $6.90 billion to $7.10 billion. Analysts currently expect the company to report full-year earnings of $3.19 per share on revenues of $7.05 billion.

Earlier, the company projected adjusted earnings in the order of $3.03 to $3.33 per share, with revenues in the range of $6.95 billion to $7.15 billion.