Keysight Technologies announced $726 million revenue for the first fiscal quarter of 2017 ended Jan. 31, 2017. Its second quarter 2017 revenue is expected to be in the range of $720 million to $760 million.
“The first quarter was another strong quarter with earnings above the mid-point of our guidance. We continued to see strong demand for our leading-edge technology solutions and believe we are well positioned within our markets,” said Ron Nersesian, Keysight president and CEO (photo).
“We continue to make progress on our strategy and are accelerating our transformation for growth with the proposed acquisition of Ixia. We are confident this strategic move will expand our growth opportunities in the communications lifecycle from development through operations,” Nersesian added.
First Quarter Financial Summary :
- Revenue was $726 million, compared with $721 million on a GAAP basis and $726 million on a non-GAAP basis in the first quarter of 2016.
- GAAP operating margin was 22 percent, compared with 14 percent in the first quarter of 2016. Non-GAAP operating margin was 18 percent, compared with 18 percent in the first quarter of 2016.
- GAAP net income was $109 million, compared with $64 million in the first quarter of 2016. Non-GAAP net income was $98 million, compared with $95 million in the first quarter of 2016.
- As of Jan. 31, 2017, cash and cash equivalents totaled $896 million.
Reporting Segments :
- Electronic Industrial Solutions Group (EISG) :
EISG revenue was $192 million in the first quarter, compared to $191 million in the first quarter of 2016. Growth in semiconductor measurement was offset by decline in general electronics measurement solutions.
- Communications Solutions Group (CSG) :
CSG revenue was $434 million in the first quarter, compared to $440 million in the prior year first quarter. Growth in commercial communications was offset by decline in aerospace, defense and government.
- Services Solutions Group (SSG) :
SSG revenue in the first quarter grew 5 percent year-over-year to $100 million when compared with $95 million in the first quarter of 2016. SSG revenue growth was driven by an increase in calibration services and remarketed solution sales.