SANTA CLARA, Calif.—Agilent Technologies Inc. on Tuesday reported a lower profit in its fiscal fourth quarter, as the scientific instrument maker booked charges for acquisition, restructuring and other costs.
The company's first-quarter earnings forecast fell short of Wall Street's expectations, sending shares lower in after-hours trading.
Agilent reported net income of $289 million, or 82 cents a share, for the three months ended Oct. 31. That compares to net income of $292 million, or 83 cents a share, in the prior-year quarter.
Excluding $64 million in charges and a tax benefit of $57 million, Agilent's earnings amounted to 84 cents a share, the company said.
Analysts expected, on average, earnings of 80 cents a share, according to FactSet.
Quarterly revenue grew 10 percent, to $1.73 billion from $1.58 billion a year earlier. Analysts forecast $1.75 billion.
The company's electronic measurement revenue rose 12 percent to $855 million, while life sciences revenue rose 9 percent to $471 million. Chemical analysis revenue rose 4 percent to $405 million, with growth led by demand in the petrochemical and food markets.
For fiscal 2011, the company earned $1.01 billion, or $2.85 a share, compared with a profit of $684 million, or $1.94 a share, the year before. Full-year revenue jumped to $6.62 billion from $5.44 billion in fiscal 2010.
Agilent, based in Santa Clara, Calif., expects that its first-quarter earnings per share, excluding one-time items, will range from 67 cents to 69 cents, while revenue will be between $1.65 billion and $1.67 billion. Analysts are anticipating adjusted earnings of 70 cents a share on $1.66 billion in revenue.
For fiscal 2012, the company projects earnings, excluding special items, will range from $3 a share to $3.35 a share. It expects fiscal 2012 revenue of $6.85 billion to $7.15 billion.
Analysts have forecast adjusted earnings of $3.13 a share on $6.98 billion in revenue.
Agilent shares fell $1.05, or 2.8 percent, to $37.20 in aftermarket trading. The stock rose 70 cents to close at $38.25 in the regular session.
