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Agilent's Bio-Analytical Fiscal Q1Revenues Rise 22 Percent as Life Sciences Grows 23 Percent

NEW YORK (GenomeWeb News) — Agilent Technologies said late yesterday that fiscal first-quarter revenues increased 10 percent as R&D spending increased 1.8 percent and profit declined after a divestiture during the same period last year caused the company to report a large gain.
Total receipts for the three months ended Jan. 31 increased to $1.25 billion from $1.17 billion year over year.
Revenue for the company’s Bio-Analytical Measurement segment increased 22 percent to $455 million from $373 million year over year.   
Life Sciences revenue was up 23 percent to $195 million. The company said that growth was “driven by year-end spending in pharmaceutical and biotech,” and sales of the company’s liquid chromatographers.
R&D spending increased to $168 million from $165 million year over year.
The company said net income decreased to $150 million from $2.09 billion in the year-ago period, which included $1.8 billion in income from the sale of the company’s semiconductor products and services business.
Agilent said it had around $2.1 billion in cash and equivalents as of Jan. 31.
For the second quarter of 2007, the company said it expects revenues between $1.3 billion and 1.4 billion.

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