56° M/CLOUDY, BREAKING NEWS
Agilent earnings down 25 percent
Last Modified: Thursday, May 14, 2009 at 3:52 p.m.
SANTA ROSA, May 14, 2009 -- Agilent Technologies Inc. (NYSE: A) reported overall revenues fell another 25 percent during the second fiscal quarter, and sales for the Electronic Measurement Group headquartered in Santa Rosa were off 33 percent.
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Agilent reported overall revenues of $1.09 billion for the quarter, down 25 percent from the same quarter last year, and a net loss of $101 million, or $0.29 per diluted share. Last year's second-quarter net income was $173 million, or $0.47 per share. Electronic Measurement revenues fell to $523 million from $863 million in the same quarter of 2008, and down from $560 million during the first quarter of 2009.
The EMG's European markets declined 30 percent below one year ago, Japan was down 43 percent and the Americas dropped 31 percent.
According to Ron Nersesian, senior vice president and general manager of the Electronic Measurement group, there is some positive news.
"We're seeing requests for bids from some of our manufacturers who have used up inventory. Orders are strengthening somewhat in the Americas, particularly the U.S. That's potentially good news for Japan, whose economy is driven largely by U.S. consumers," he said.
Next-generation wireless standards are moving ahead, and Agilent holds a very strong position in that sector, he added.
"We're still hearing negatives, but this is the first time since the recession began that I can say it's not all bad."
Agilent employs about 1,000 in Santa Rosa.
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