- Keysight Technologies reported financial results for the third fiscal quarter of 2018 ended July 31, 2018.
- Its GAAP revenue grew 21 percent when compared with last year to reach $1,004 million.
- Keysight’s fourth fiscal quarter of 2018 GAAP revenue is expected to be in the range of $996 million to $1,016 million and non-GAAP revenue for the fourth fiscal quarter of 2018 is expected to be in the range of $1,000 million to $1,020 million.
GAAP : Generally Accepted Accounting Principles
GAAP revenue grew 21 percent to reach $1,004 million, when compared with $832 million last year. Non-GAAP revenue, which excludes the impact of fair value adjustments to acquisition-related deferred revenue balances, grew 17 percent to reach $1,008 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 15 percent.
GAAP net income was $121 million compared with a GAAP net loss of $18 million in the third quarter of 2017. Non-GAAP net income was $170 million compared with $115 million in the third quarter of 2017.
As of July 31, 2018, cash and cash equivalents totaled $742 million.
- Communications Solutions Group (CSG)
CSG reported third quarter revenue of $515 million, up 23 percent, driven by 5G-related R&D spending across the wireless ecosystem, early investment in next-generation 400G and PAM-4 network test and strong growth in the aerospace, defense and government end market.
- Electronic Industrial Solutions Group (EISG)
EISG revenue grew 19 percent in the third quarter to $258 million, driven by solid double-digit growth for automotive and energy, general electronics and semiconductor measurement solutions.
- Ixia Solutions Group (ISG)
ISG revenue was $119 million in the third quarter, compared with $120 million in the prior year third quarter. ISG’s revenue improved sequentially following extensive integration activities last quarter. ISG’s pipeline of activities continued to grow, including increased demand for visibility and 400G Ethernet test solutions.
- Services Solutions Group (SSG)
SSG revenue grew 9 percent in the third quarter to $116 million, driven by growth in our calibration, remarketed and repair services and solutions.