- Keysight Technologies reported financial results for the third fiscal quarter of 2019 ended July 31, 2019.
- GAAP revenue grew 8% to reach $1,087 million, when compared with $1,004 million last year.
(*) GAAP : Generally Accepted Accounting Principles
Keysight’s fourth fiscal quarter of 2019 GAAP revenue is expected to be in the range of $1,078 million to $1,098 million and non-GAAP revenue for the fourth fiscal quarter of 2019 is expected to be in the range of $1,080 million to $1,100 million.
Non-GAAP revenue grew 8% to reach $1,088 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 9%.
GAAP net income was $159 million compared with GAAP net income of $121 million in the third quarter of 2018. This represents 32% year-over-year growth in GAAP earnings per diluted share.
Non-GAAP net income was $239 million compared with $170 million in the third quarter of 2018. This represents 41% year-over-year growth in non-GAAP earnings per diluted share.
# Communications Solutions Group (CSG)
CSG reported revenue of $683 million in the third quarter, up 13%, driven by strong demand for 5G solutions across the wireless ecosystem.
# Electronic Industrial Solutions Group (EISG)
EISG reported revenue of $295 million in the third quarter, up 3%, driven by strength in automotive and general electronics across a broad set of industries, offset by softness in the semiconductor market as expected.
# Ixia Solutions Group (ISG)
ISG revenue was $110 million in the third quarter, a 7% decrease when compared with $119 million in the prior year third quarter, reflecting softness in the network test market, offset by high-single-digit year-over-year growth in network visibility.