SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Agilent Technologies Inc. (A) on Wednesday reported fiscal first-quarter net income of $305 million.
On a per-share basis, the Santa Clara, California-based company said it had net income of $1.07. Earnings, adjusted for one-time gains and costs, were $1.36 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The scientific instrument maker posted revenue of $1.8 billion in the period, meeting Street forecasts.
For the current quarter ending in April, Agilent expects its per-share earnings to range from $1.39 to $1.42.
The company said it expects revenue in the range of $1.79 billion to $1.82 billion for the fiscal second quarter.
Agilent expects full-year earnings in the range of $5.90 to $6.04 per share, with revenue ranging from $7.3 billion to $7.5 billion.
Agilent shares have dropped 8% since the beginning of the year, while the S&P’s 500 index has climbed 1.5%. In the final minutes of trading on Wednesday, shares hit $124.87, a decrease of roughly 7% in the last 12 months.
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