Agilent Technologies Inc. (NYSE: A)reported a rise in quarterly profit late Monday, saying profit rose 7 percent in its fiscal second quarter on strong orders for bio-analytical measurement tools.
Net income was $123 million, or 30 per share, compared with $115 million, or 26 per share in the same period last year. Excluding taxes and other costs, earnings were $176 million, or 43 cents a share, compared with $157 million, or 36 cents a share, last year.
Overall, revenue at the Santa Clara, Calif.-based firm rose to $1.32 billion for the quarter, also up 7 percent from the previous year.
A polled by Thomson Financial were expecting, on average, a per-share profit of 44 cents on revenue of $1.32 billion.
The company, which specializes in test and measurement equipment, saw revenues from its bio-analytical revenues jump 15 percent for the quarter to $428 million compared to the same period last year.
Life sciences division revenue was up 20 percent to $194 million from last year, while environmental spending and forensics help drive chemical analysis revenues up 11 percent to $234 million.
Agilent also benefited a $94 million Army contract in April to test radios used in combat. Testing will begin in 2008 and last six years.
For the fiscal third quarter of 2007, Agilent expects revenues of $1.36 billion to $1.40 billion, up 10 percent to 13 percent from last year.
Shares of Agilent closed down 30 cents, or 0.8 percent, to $35.91 in trading on the New York Stock Exchange.