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Agilent reports 'solid' quarter

2006/The Press Democrat
Agilent technician Debbie Leal checks the progress of the Molecular Beam Epitaxy instrument used to grow thin layers of materials for precision semiconductors at the company's Santa Rosa campus.

By STEVE HART
THE PRESS DEMOCRAT

Published: Wednesday, May 14, 2008 at 1:33 p.m.
Last Modified: Wednesday, May 14, 2008 at 1:33 p.m.

Driven by growth in Asian markets, Agilent Technologies on Wednesday reported a 5 percent increase in second-quarter sales for its electronic measurement business, which includes Agilent’s Santa Rosa wireless unit.

“Agilent had a solid fiscal second quarter, especially considering the difficult market conditions of much of the developed world,” said CEO Bill Sullivan.

Agilent is Sonoma County’s largest technology company, with about 1,500 employees in Santa Rosa. Its electronic measurement division posted $900 million in sales, up from $857 million a year ago.

While revenues from United States and Europe increased just 1 percent, sales jumped 11 percent in Asia.

Companywide, Agilent reported $1.5 billion sales, up 10 percent from last year. The Santa Clara-based company posted net income of $173 million, or 47 cents per diluted share, compared to $123 million, or 30 cents per share, in the year-ago quarter.

The results were released after U.S. markets were closed. The news sent Agilent stock jumping 4 percent in after-hours trading. Earlier Wednesday, Agilent stock closed at $32.53, up 30 cents a share on the New York Stock Exchange.


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