Agilent reports 'solid' quarter

Driven by growth in Asian markets, Agilent Technologies on Wednesday reported a 5 percent increase in second-quarter sales for its electronic measurement business, which includes Agilent’s Santa Rosa wireless unit.

“Agilent had a solid fiscal second quarter, especially considering the difficult market conditions of much of the developed world,” said CEO Bill Sullivan.

The electronic measurement division posted $900 million in sales, up from $857 million a year ago. While revenues from the United States and Europe increased just 1 percent, sales jumped 11 percent in Asia.

“We continue to anticipate tough conditions in U.S. markets and mixed conditions in Europe and Japan,” Sullivan said. “Asian markets are expected to remain quite robust.”

Agilent is Sonoma County’s largest technology company, with about 1,500 employees.

Santa Rosa is headquarters for Agilent’s wireless business unit, which also has locations in Washington, Colorado, China, Japan and Europe. Agilent is the largest maker of electronic instruments for testing cell phones and other wireless devices. The Santa Rosa-based unit also engineers test products for wireless research and development.

The company has increased sales as electronics manufacturers in China and India roll out next-generation wireless products.

Meanwhile, U.S. electronics companies continue to shift their own manufacturing to Asia and other lower-cost locations.

“We had a strong performance across the board,” said Ron Nersesian, general manager of the wireless unit in Santa Rosa.

Companywide, Agilent reported $1.46 billion in sales, up 10 percent from last year. The Santa Clara-based company posted net income of $173 million, or 47 cents per diluted share, compared to $123 million, or 30 cents per share, in the year-ago quarter.

Agilent’s bioanalytical division, which makes test and measurement products for the life sciences and chemical analysis markets, recorded $556 million in sales, up 20 percent from a year ago.

The company predicted sales over the rest of the year would line up with Wall Street analysts’ expectations.

Agilent forecast an adjusted third-quarter profit of 52 cents to 56 cents a share on $1.44 billion to $1.49 billion in revenue. Analysts polled by Thomson Financial expect a profit of 55 cents a share on $1.46 billion in revenue for the quarter ending in July.

The company said it expects to post a fourth-quarter profit of 62 cents to 66 cents a share on $1.53 billion to $1.59 billion in revenue. Analysts, on average, expect a profit of 63 cents a share on $1.54 billion in revenue for the quarter ending in October.

For the full fiscal year, Agilent expects an adjusted profit of $2.07 to $2.15 a share on $5.82 billion to $5.93 billion in revenue. Analysts expect earnings of $2.08 a share on $5.83 billion in revenue.

Agilent shares rose 30 cents to close at $32.53. In aftermarket activity, they added another $1.38, or 4.2 percent, to $33.91.

The Associated Press contributed to this report. You can reach Staff Writer Steve Hart at 521-5205 or steve.hart@pressdemocrat.com.