- Keysight Technologies has released its financial results for the fourth quarter as well as the full fiscal year 2020, ending October 31, 2020.
- In the fourth quarter of 2020, its revenues increased 9% over last year to $1.22 billion.
- For the full fiscal year 2020, its revenues decreased very slightly from last year to $4.22 billion.
- Keysight expects its revenues to be between $1.14 billion and $1.16 billion in the first quarter of fiscal 2021.
“Keysight delivered an outstanding quarter and finish to our fiscal year, driven by strong execution and broad-based demand for our differentiated solutions. Despite COVID-related macro challenges, it was a record year for orders, gross margin, operating margin, earnings per share and free cash flow,” said Ron Nersesian, Keysight’s Chairman, President and CEO.
# Fourth Quarter Financial Summary
- Revenue grew 9 percent to reach $1.22 billion, when compared with $1.12 billion last year. Non-GAAP revenue grew 7 percent on a core basis, which excludes the impact of foreign currency changes and revenue associated with businesses acquired or divested within the last twelve months.
- GAAP net income was $217 million compared with $195 million in the fourth quarter of 2019.
- Non-GAAP net income was $305 million compared with $254 million in the fourth quarter of 2019.
(*) GAAP : Generally Accepted Accounting Principles
# Fiscal Year 2020 Financial Summary
- Revenue declined 2 percent over last year and totaled $4.22 billion. Non-GAAP revenue declined 3 percent on a core basis.
- GAAP net income was $627 million compared with $621 million in fiscal 2019.
- Non-GAAP net income was $919 million compared with $902 million in fiscal 2019.
# Reporting Segments
- Communications Solutions Group (CSG)
CSG reported revenue of $901 million in the fourth quarter, up 8 percent over last year, driven by continued strength in next-generation commercial communications technologies and increased global aerospace defense and government investment.
- Electronic Industrial Solutions Group (EISG)
EISG reported revenue of $319 million in the fourth quarter, up 12 percent over last year, driven by strength in our broad portfolio of products that serve the general electronics market and continued strong demand for semiconductor measurement solutions.