Agilent Q2 Profit Misses Estimate

(RTTNews) - Agilent Technologies Inc. (A) reported net income for the second quarter of $83 million or $0.25 per share, compared to $139 million or $0.41 per share for the year-ago quarter.

Income from continuing operations for the second quarter was $88 million or $0.26 per share, compared to $40 million or $0.12 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations for the latest quarter was $129 million or $0.38 per share.

Second quarter revenues fell 3% to $963 million from $988 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.39 per share on revenue of $989.30 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenues of $995 million to $1,015 million and adjusted earnings of $0.38 to $0.42 per share. Analysts currently expect the company to earn $0.42 per share on revenue of $1.00 billion for the third quarter.

Agilent lowered its fiscal 2015 revenue outlook to a range of $4.05 billion to $4.11 billion from its prior outlook of $4.06 billion to $4.12 billion. However, the company reiterated its fiscal 2015 adjusted earnings outlook of $1.67 to $1.73 per share. Analysts currently expect the company to earn $1.69 per share on revenue of $4.07 billion for the fiscal year 2015.