• Keysight Technologies has announced its financial results for the fourth fiscal quarter and fiscal year 2023, ended October 31, 2023.
• The US firm reported sales of $1.31 billion in the fourth quarter and $5.46 billion for its full fiscal year 2023.
• Keysight’s first-quarter sales for fiscal 2024 are expected to be between $1.235 billion and $1.255 billion.

 
“Keysight delivered solid fourth quarter results and finished the year with record revenue, gross margin, and operating margin,” said Satish Dhanasekaran, Keysight’s President and CEO.

Fourth Quarter Financial Summary
– Revenue was $1.31 billion, compared with $1.44 billion last year.
– GAAP net income was $226 million, compared with $299 million, in the fourth quarter of 2022.
– Non-GAAP net income was $352 million, compared with $386 million, in the fourth quarter of 2022.
– Cash flow from operations was $378 million, compared with $398 million last year. Free cash flow was $340 million, compared with $340 million in the fourth quarter of 2022.
– As of October 31, 2023, cash and cash equivalents totaled $2.47 billion.

Fiscal Year 2023 Financial Summary
– Revenue was $5.46 billion, compared with $5.42 billion last year.
– GAAP net income was $1.06 billion, compared with $1.12 billion, in fiscal 2022.
– Non-GAAP net income was $1.49 billion, compared with $1.39 billion, in fiscal year 2022.
– Cash flow from operations was $1.41 billion, compared with $1.14 billion last year.
– Free cash flow was $1.21 billion, compared with $0.96 billion in fiscal year 2022.

(*)GAAP : Generally Accepted Accounting Principles

• Communications Solutions Group (CSG)
  CSG reported revenue of $891 million in the fourth quarter, down 10 percent over last year, reflecting a 17 percent decline in commercial communications, while aerospace, defense, and government increased 4 percent driven by investments in defense technology modernization, electromagnetic spectrum operations, radar, and space and satellite.
• Electronic Industrial Solutions Group (EISG)
  EISG reported revenue of $420 million in the fourth quarter, down 7 percent over last year, reflecting contraction in semiconductor and manufacturing-related customer spending, while investment in new mobility automotive, advanced research, and digital health held steady.