Agilent Technologies Q4 Profit Rises

(RTTNews) - Agilent Technologies Inc. (A) Monday reported fourth-quarter net income of $442 million or $1.45 per share, compared to $222 million or $0.71 per share last year.

Adjusted net income was $368 million or $1.21 per share, compared with $305 million or $0.98 per share last year.

Revenues for the quarter rose 12% to $1.66 billion from $1.48 billion last year.

Analysts had expected the company to earn $1.04 per share on revenues of $1.47 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

"Our strong fourth quarter closes out a record top- and bottom-line performance in fiscal year 2021," said Mike McMullen, Agilent president and CEO. "We continue to see strong momentum in our business and look forward to the Agilent team extending it into the year ahead."

Looking forward to fiscal year 2022, the company expects revenues of $6.65 billion to $6.73 billion and adjusted earnings of $4.76 to $4.86 per share. Analysts currently expect earnings of $4.24 per share on revenues of $6.01 billion.

For the first quarter, the company expects revenues of $1.64 billion to $1.66 billion and adjusted earnings of $1.16 to $1.18 per share. Analysts currently expect earnings of $1.02 per share on revenues of $1.47 billion.