- Keysight Technologies reported financial results for the second fiscal quarter of 2019 ended April 30, 2019.
- Its quarterly revenues grew grew by 10% to reach $1.09 Billion.
- Keysight’s third fiscal quarter of 2019 GAAP revenue is expected to be in the range of $1,018 million to $1,058 million and non-GAAP revenue for the third fiscal quarter of 2019 is expected to be in the range of $1,020 million to $1,060 million.
Ron Nersesian, Keysight president and CEO, said :“Looking into the third quarter, we are complying with the recent United States Department of Commerce export control regulations with China. While this will have some impact on revenue, we expect to deliver revenue growth between 7 and 8 percent for the year.”
# Second Quarter Financial Summary
GAAP revenue grew 10 percent to reach $1,090 million, when compared with $990 million last year. Non-GAAP revenue, grew 9 percent to reach $1,093 million.
Non-GAAP core revenue, which also excludes the impact of foreign currency changes and revenue associated with businesses acquired or divested within the last twelve months, increased 12 percent.
GAAP net income was $153 million compared with GAAP net income of $64 million in the second quarter of 2018.
Non-GAAP net income was $233 million compared with $158 million in the second quarter of 2018.
# Reporting Segments
- Communications Solutions Group (CSG)
CSG reported revenue of $676 million in the second quarter, up 8 percent, driven by demand for 5G R&D across the wireless ecosystem and data center related next-generation 400GbE digital test.
- Electronic Industrial Solutions Group (EISG)
EISG reported revenue of $299 million in the second quarter, up 6 percent, driven by strength in automotive, general electronics and next-generation parametric test.
- Ixia Solutions Group (ISG)
ISG revenue was $118 million in the second quarter, up 32 percent when compared with $90 million in the prior year second quarter, driven by application and security sales along with large visibility renewals.