• Keysight Technologies has announced its financial results for the first fiscal quarter ended 31 January 2022.
• The US company’s revenue reached $1.25 billion in the first quarter of 2022 while its GAAP net income was $229 million.
• Keysight expects its revenue for the second fiscal quarter of 2022 to be between $1.29 billion and $1.31 billion.

 
“Keysight has made a strong start to the year, exceeding the upper end of our revenue and earnings per share guidance. Continued robust demand for our differentiated solutions has resulted in record orders,” enthused Ron Nersesian, chairman and CEO of the US firm.

Orders increased 22% to $1.50 billion from $1.22 billion last year, or 23% on a core basis, which excludes the impact of foreign exchange and orders associated with businesses acquired or divested in the past 12 months.

Sales increased 6% to $1.25 billion from $1.18 billion last year, or 7% on a core basis, which excludes the impact of foreign exchange rate changes and sales associated with businesses acquired or divested in the last twelve months.

GAAP net income was $229 million, compared to $172 million in the first quarter of 2021.

Non-GAAP net income was $305 million compared to $270 million in Q1 2021.

(*)GAAP stands for Generally Accepted Accounting Principles.

• Communications Solutions Group (CSG)
  The CSG business segment reported first-quarter revenue of $878 million, up 3 percent year over year, driven by continued investments in 5G, open wireless access network (O-RAN) adoption, R&D projects in 400G, 800G and terabit transmission, and wireline communications applications.
• Electronic Industrial Solutions Group (EISG)
  The EISG business segment reported first-quarter revenue of $372 million, up 13% from a year ago, driven by test solutions for the semiconductor and automotive industries and next-generation power generation. Revenue growth was reported in all regions of the world.