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UPDATE 2-Agilent 4th-quarter net profit rises 21 percent

Thu Nov 15, 2007 7:45pm EST
 
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(Adds analysts' estimates, CEO comment, share price)

SAN FRANCISCO, Nov 15 (Reuters) - Agilent Technologies Inc (A.N: Quote, Profile, Research, Stock Buzz), a maker of electronics testing gear, posted a higher quarterly profit on Thursday as strength among bioscience and defense customers offset declines in the computer and microchip industries.

The company also said it was "comfortable" with current Wall Street revenue and profit forecasts for its current quarter, and its shares rose nearly 4 percent.

Net profit for its fiscal fourth quarter rose to $180 million, or 46 cents per share, from $149 million, or 36 cents a share, a year earlier.

Agilent's profit including stock-based compensation and amortization expenses, but excluding restructuring charges, was 48 cents per share, beating the average analyst forecast of 46 cents, according to Reuters Estimates.

Revenue rose to $1.45 billion from $1.33 billion a year earlier and ahead of the average Wall Street forecast for $1.41 billion on Reuters Estimates.

Agilent Chief Executive Bill Sullivan said bio-analytics, aerospace and defense markets were strong while wireless handset and electronic manufacturing were flat and computer and microchip markets were weak.

"I believe those trends are going to continue," Sullivan told Reuters.

Agilent said it expected revenue for its first quarter to be up between 5 percent and 9 percent from a year earlier and that it was comfortable with a range of profit estimates from 38 cents to 43 cents per share.  Continued...

 

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