Agilent Technologies, Inc. (A) has reported an 11.43 percent fall in profit for the quarter ended Oct. 31, 2016. The company has earned $124 million, or $0.38 a share in the quarter, compared with $140 million, or $0.42 a share for the same period last year. On the other hand, adjusted income from continuing operations for the quarter stood at $193 million, or $0.59 a share compared with $168 million or $0.50 a share, a year ago.
Revenue during the quarter grew 7.34 percent to $1,111 million from $1,035 million in the previous year period. Total expenses were 83.53 percent of quarterly revenues, down from 84.93 percent for the same period last year. This has led to an improvement of 140 basis points in operating margin to 16.47 percent.
Operating income for the quarter was $183 million, compared with $156 million in the previous year period.
"Agilent delivered a great fourth quarter, capping off a strong fiscal year 2016," said Mike McMullen, Agilent president and CEO. "Our fourth-quarter revenue was up 6.3 percent on a core basis(2) supported by strength across all businesses, and earnings per share came in well above our guidance range."
For fiscal year 2017, Agilent Technologies, Inc. forecasts revenue to be in the range of $4,350 million to $4,370 million. The company expects diluted earnings per share to be in the range of $2.10 to $2.16 on adjusted basis.
For the first-quarter, Agilent Technologies, Inc. forecasts revenue to be in the range of $1,040 million to $1,060 million. On an adjusted basis, the company expects diluted earnings per share to be in the range of $0.48 to $0.50.
Operating cash flow improves significantly
Agilent Technologies, Inc. has generated cash of $793 million from operating activities during the year, up 61.51 percent or $302 million, when compared with the last year.
The company has spent $238 million cash to meet investing activities during the year as against cash outgo of $400 million in the last year. It has incurred net capital expenditure of $138 million on net basis during the year, up 60.47 percent or $52 million from year ago.
The company has spent $268 million cash to carry out financing activities during the year as against cash outgo of $1,068 million in the last year period.
Cash and cash equivalents stood at $2,289 million as on Oct. 31, 2016, up 14.28 percent or $286 million from $2,003 million on Oct. 31, 2015.
Working capital remains almost stable
Agilent Technologies, Inc. has witnessed a decline in the working capital over the last year. It stood at $2,691 million as at Oct. 31, 2016, down 0.70 percent or $19 million from $2,710 million on Oct. 31, 2015. Current ratio was at 3.85 as on Oct. 31, 2016, up from 3.78 on Oct. 31, 2015.
Days sales outstanding went down to 26 days for the quarter compared with 27 days for the same period last year.
Debt moves up
Agilent Technologies, Inc. has witnessed an increase in total debt over the last one year. It stood at $1,912 million as on Oct. 31, 2016, up 15.53 percent or $257 million from $1,655 million on Oct. 31, 2015. Agilent Technologies has witnessed an increase in long-term debt over the last one year. It stood at $1,912 million as on Oct. 31, 2016, up 15.53 percent or $257 million from $1,655 million on Oct. 31, 2015. Total debt was 24.46 percent of total assets as on Oct. 31, 2016, compared with 22.13 percent on Oct. 31, 2015. Debt to equity ratio was at 0.45 as on Oct. 31, 2016, up from 0.40 as on Oct. 31, 2015. Interest coverage ratio deteriorated to 9.63 for the quarter from 9.75 for the same period last year.
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