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Keysight Technologies Reports First Quarter 2020 Results

  • Keysight Technologies has released its financial results for the first fiscal quarter of 2020, which ended January 31, 2020.
  • Its revenue for this first quarter reached $1.095 billion.
  • For the second quarter of fiscal 2020, it is expected to be between $1.138 billion and $1.178 billion.

“Keysight delivered another outstanding quarter and a strong start to the year with both revenue and earnings exceeding the high end of our guidance. Revenue growth in the quarter was driven by ongoing strength in 5G-related investments and increased spending in aerospace defense and semiconductor measurement,” said Ron Nersesian, Keysight president and CEO.
# First Quarter Financial Summary

  • GAAP revenue grew 9 percent to reach $1.095 billion, when compared with $1.006 billion last year.
  • 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 8 percent.
  • GAAP net income was $163 million, compared with GAAP net income of $114 million in the first quarter of 2019.
  • Non-GAAP net income was $240 million, compared with $176 million in the first quarter of 2019.
  • As of January 31, 2020, cash and cash equivalents totaled $1.691 billion.

# Reporting Segments

  • Communications Solutions Group (CSG)
    CSG reported record first quarter revenue of $818 million in the first quarter, up 9 percent, driven by continued investments in the 5G ecosystem and broad-based growth across all regions in aerospace, defense and government.
  • Electronic Industrial Solutions Group (EISG)
    EISG reported revenue of $277 million in the first quarter, up 8 percent, driven by semiconductor measurement solutions and next-generation automotive and energy technologies, with growth across all regions.