- Keysight Technologies reported financial results for the fourth fiscal quarter of 2018 ended Oct. 31, 2018.
- Its fourth quarter GAAP* revenue grew 19 percent to reach $1,047 million.
- Its Fiscal Year 2018 GAAP revenue grew 22 percent over last year and totaled $3.9 billion.
- Keysight’s first fiscal quarter of 2019 GAAP revenue is expected to be in the range of $962 million to $982 million.
(*) GAAP : Generally Accepted Accounting Principles
# Keysight’s Fourth Quarter Financial Summary
GAAP revenue grew 19 percent to reach $1,047 million, when compared with $878 million last year. Non-GAAP revenue, which excludes the impact of fair value adjustments to acquisition-related deferred revenue balances, grew 16 percent to reach $1,051 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 17 percent.
GAAP net loss was $114 million, compared with a GAAP net loss of $38 million, in the fourth quarter of 2017. Fourth quarter 2018 GAAP net loss reflects a non-cash goodwill impairment charge partially offset by a benefit from tax planning initiatives within the quarter.
Non-GAAP net income was $193 million, compared with $135 million, or $0.71 in the fourth quarter of 2017.
As of October 31, 2018, cash and cash equivalents totaled $913 million.
# Keysight’s Fiscal Year 2018 Financial Summary
GAAP revenue grew 22 percent over last year and totaled $3.9 billion. Non-GAAP revenue grew 20 percent to reach $3.9 billion. Non-GAAP core revenue grew 13 percent year-over-year.
GAAP net income was $165 million compared with $102 million in fiscal 2017. Non-GAAP net income was $618 million compared with $462 million in fiscal 2017.
- Communications Solutions Group (CSG)
CSG reported revenue of $566 million in the fourth quarter, up 23 percent, driven by 5G-related R&D spending across the wireless ecosystem, data center next-generation 400GbE, high-speed digital test and aerospace, defense and government.
- Electronic Industrial Solutions Group (EISG)
EISG revenue grew a 21 percent in the fourth quarter to $249 million, driven by solid double-digit growth for automotive and energy, general electronics and semiconductor measurement solutions.
- Ixia Solutions Group (ISG)
ISG revenue was $115 million in the fourth quarter, compared with $124 million in the prior year fourth quarter. ISG continued to improve sales execution; however, revenue was adversely impacted by the contract manufacturing transition.
- Services Solutions Group (SSG)
SSG revenue grew 10 percent in the fourth quarter to $121 million, driven by growth in calibration, remarketed and repair services and solutions.