- Keysight Technologies has released its financial results for the fiscal fourth quarter and full year ended October 31, 2021.
- In the fourth quarter, the U.S.-based company reported revenue of $1.29 billion and $4.94 billion for its full fiscal year 2021.
- Its fiscal first quarter 2022 revenue is expected to be between $1.225 billion and $1.245 billion.
“Keysight delivered a record quarter and a strong fiscal year-end. Despite challenging supply conditions, exceptional execution resulted in unprecedented order and revenue levels and gross and operating margins. Our momentum is based on the success of our software-centric solutions strategy,” said Ron Nersesian, chairman and CEO of Keysight, which is experiencing double-digit year-over-year order growth in all markets and regions.
Fourth Quarter Financial Summary
– Orders grew 21 percent to reach $1.49 billion, compared with $1.23 billion last year.
– Revenue grew 6 percent to reach $1.29 billion, compared with $1.22 billion last year, or 5 percent on a core basis, which excludes the impact of foreign currency changes and revenue associated with businesses acquired or divested within the last twelve months.
GAAP net income was $282 million compared with $217 million in the fourth quarter of 2020.
– Non-GAAP net income was $338 million compared with $305 million in the fourth quarter of 2020.
– As of October 31, 2021, cash and cash equivalents totaled $2.05 billion.
Fiscal Year 2021 Financial Summary
– Orders grew 18 percent to reach $5.36 billion, compared with $4.53 billion last year.
– Revenue grew 17 percent and totaled $4.94 billion, compared with $4.22 billion last year, or 15 percent on a core basis.
– GAAP net income was $894 million compared with $627 million in fiscal 2020.
– Non-GAAP net income was $1.16 billion compared with $919 million in fiscal year 2020.
(*) GAAP : Generally Accepted Accounting Principles
Results by business segment
- Communications Solutions Group (CSG)
CSG reported revenue of $919 million in the fourth quarter, up 2 percent over last year, driven by strength across the 5G and aerospace, defense and government ecosystems, as well as investment in 400G and 800G R&D.
- Electronic Industrial Solutions Group (EISG)
EISG reported revenue of $375 million in the fourth quarter, up 18 percent over last year, driven by semiconductor measurement solutions and next-generation automotive and energy technologies, with growth across all regions.