Keysight reports third quarter 2017 results

  • Keysight Technologies reported financial results for the third fiscal quarter of 2017 ended July 31, 2017.
  • GAAP grew 16¬†% to reach $832 million, when compared with $715 million last year.
  • Fourth quarter 2017 GAAP revenue is expected to be in the range of $850 million to $880 million.

 
GAAP ( Generally Accepted Accounting Principles) revenue grew 16 % to reach $832 million, when compared with $715 million last year.

Non-GAAP revenue, which excludes the impact of fair value adjustment to acquisition-related deferred revenue balances, grew 20 % to reach $863 million, when compared with $718 million in the third quarter of 2016.

Non-GAAP core revenue, which excludes the impact of currency and revenue from acquisitions completed within the last twelve months, grew 4 % year-over-year.

GAAP net loss was $18 million, compared with net income of $91 million, in the third quarter of 2016. Non-GAAP net income was $115 million, compared with $108 million, in the third quarter of 2016.
 
Communications Solutions Group (CSG)
CSG revenue was $418 million in the third quarter, compared to $424 million in the prior year third quarter. Growth in commercial communications and 5G was offset by a decline in aerospace, defense and government.
 
Electronic Industrial Solutions Group (EISG)
EISG revenue was $218 million in the third quarter, up 14 % when compared to $191 million in the third quarter of 2016. EISG growth was driven by strong demand for general electronics, semiconductor, and automotive and energy solutions.
 
Ixia Solutions Group (ISG)
ISG revenue was $120 million in the third quarter. ISG revenue was impacted by continued challenging market conditions with its network equipment manufacturers customers in the U.S., while demand for visibility and application and security solutions was strong among service provider customers.
 
Services Solutions Group (SSG)
SSG revenue in the third quarter grew 4 % year-over-year to $107 million when compared with $103 million in the third quarter of 2016. Services growth was driven by remarketed solution sales.