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Agilent's Q2 Revenues Rise 10 Percent

NEW YORK (GenomeWeb News) – Agilent Technologies reported after the close of the market on Wednesday that its second-quarter revenues rose 10 percent and its net income climbed 40.7 percent year over year.
The Santa Clara, Calif.-based firm brought in revenues of $1.46 billion for the three months ended April 30, compared to $1.32 billion for the second quarter of its 2007 fiscal year.
Revenue for its Bio-Analytical Measurement segment increased 20.1 percent to $556 million from $463 million year over year. The firm said that excluding the contributions of Stratagene and Velocity11, which were acquired last year, revenues for the segment grew 14 percent.
Within the BAM segment, life sciences revenues were $259 million, up 33 percent from a year ago, and revenues for chemical analysis products rose 11 percent to $297 million.
Revenues for Agilent’s Electronic Measurement segment increased 5 percent to $900 million from $857 million.
Agilent posted a first-quarter profit of $173 million, or $.47 per share, compared to $123 million, or $.30 per share, for the first quarter of 2007. Last year’s charges to earnings for items, such as share-based compensation and restructuring and asset impairment, were significantly more than similar charges registered in the second quarter of this year. On an adjusted basis, Agilent’s profit rose to $187 million from $176 million.
The firm’s R&D expenses increased 6 percent to $183 million from $173 million year over year, while its SG&A costs rose 6 percent to $433 million from $426 million.
Agilent finished the quarter with $1.7 billion in cash and cash equivalents.
The firm expects its 2008 revenues to be in a range of $5.82 billion to $5.93 billion, which would be growth of 7 percent to 9 percent.
In late Thursday trade on the New York Stock Exchange, shares of Agilent were up 9.4 percent at $35.60.

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