Agilent Technologies Reports 10-Percent Increase in Second-Quarter Revenue, Significant Decline in Orders.Business Editors/High Tech Writers PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--May 17, 2001 Agilent Technologies This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. Inc. (NYSE NYSE See: New York Stock Exchange : A) today reported a 10-percent increase in revenue but a significant decline in orders and earnings for fiscal 2001's second quarter, which ended April 30. The decline in orders and earnings reflects a dramatic slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in the communications and semiconductor markets, as customer demand weakened weak·en tr. & intr.v. weak·ened, weak·en·ing, weak·ens To make or become weak or weaker. weak  en·er n. during the
quarter. Weak industry conditions also resulted in about $500 million in
order cancellations.
Net revenue grew to $2.7 billion, compared with $2.5 billion in the second quarter a year ago. Orders, after cancellations, were $1.8 billion, a 41-percent decline from last year's strong second quarter and a 37-percent decrease compared to last quarter. Net earnings before goodwill were $51 million, or 11 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. -- excluding gains of $269 million on the sale of excess land in San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif., expenses of $27 million related to the company's planned divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of its healthcare solutions business and the taxes associated with these items. In light of weakened demand, the company increased its inventory reserves in Q2 by approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $100 million above normal, or 15 cents per share. Without this cost, earnings per share would have been 26 cents. "This was a very challenging quarter due to the dramatic drop in new orders and a large number of cancellations," said Ned Barnholt, Agilent (Agilent Technologies, Santa Clara, CA, www.agilent.com) The test and measurement subsidiary of HP. In 1999, HP split off the division that started the company into an independent subsidiary named Agilent Technologies. At the time, the $2. president and chief executive officer. "As we said at the end of Q1, demand in the communications and semiconductor industries has dropped off as customers work through excess capacity and inventory. We're we're Contraction of we are. we're we are taking aggressive actions to respond to the weak business environment to get our expenses and cost structures more in line with the significantly lower levels of orders." In recent months, Agilent has frozen hiring, cut back significantly on its use of temporary workers, and reduced all discretionary spending. The company also has initiated short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. manufacturing closures to reduce production levels. In early April, Agilent announced a temporary 10-percent payroll payroll a list of employees, their salary rates, tax deductions, amounts paid, payroll tax, long service leave entitlements. reduction, effective May 1. The payroll action alone will save about $70 million per quarter. In addition, Agilent is continuing initiatives to streamline streamline, path of a fluid flowing steadily and without appreciable turbulence. A body is said to be streamlined if its shape offers the least possible resistance to a current of air, water, or other fluid. its operations and improve its customer interfaces. These efforts have been under way since the company began operating independently in late 1999, and have resulted in a number of restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). activities and process improvements across many functional areas. "We're taking advantage of the soft business environment to accelerate some of our restructuring plans, which will result in additional cost savings going forward," said Barnholt. "We are closely monitoring business conditions and are prepared to take further actions if conditions warrant. Our strategy is to balance aggressive short-term actions with continued investments in priorities for the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. , such as core new product development programs." Regarding its performance in the second half of fiscal 2001, the company said that several factors make it likely that revenue in the third quarter would be lower than in Q2: the extremely uncertain business climate, the steep order decline in the second quarter and the fact that the company shipped a substantial portion of its backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. during Q2. The company currently expects third-quarter revenue to be as low as $2 billion. While it is very difficult to predict revenue, and volume has a very significant impact on earnings, Agilent expects to report a third-quarter loss, on an earnings before goodwill basis, of between 20 and 30 cents per share -- including about 5 cents per share for restructuring. "While accurate predictions are extremely difficult, we feel we are at or near bottom and may see an improvement in orders later in the second half," said Barnholt. "We are continuing to work aggressively on short-term expense controls and cost reductions. We hope to return to modest profitability in the fourth quarter of our fiscal year, which ends Oct. 31, depending on the rate of order improvement." Second-quarter orders in Agilent's test and measurement business reflect significant weakness in capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. for equipment used to test wireless and optical products, and a major drop in order levels in semiconductor test equipment. Order drop-off is primarily related to excess capacity in manufacturing for many large customers in these markets. Q2 orders in the company's semiconductor products business reflect very weak demand in wireless and networking components as customers work through high inventory levels. Agilent's chemical analysis business showed improved order results in the second quarter as it continues its transformation into a major participant Participant A party of a funding. It usually refers to the lowest rank or smallest level of funding. in life sciences. Agilent's healthcare solutions business showed modest improvement in second-quarter order results compared to last year. In November November: see month. 2000, Agilent announced an agreement to sell its healthcare business to Royal Philips (company) Philips - A Dutch multinational electronics company. It produces washing machines, consumer electronics, integrated circuits and light bulbs. Together with Sony they set the Compact Disc standard, especially Green Book CD-ROM. Electronics. The pending sale is undergoing U.S. regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. review; the companies received European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community Commission clearance CLEARANCE, com. law. The name of a certificate given by the collector of a port, in which is stated the master or commander (naming him) of a ship or vessel named and described, bound for a port, named, and having on board goods described, has entered and cleared his ship or vessel on March 1 of this year. The two companies expect to complete the proposed acquisition by mid-calendar year. "We remain optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the future of our company," Barnholt said. "We believe that the markets we're in have a bright long-term outlook, and we're focused in the high-growth segments within these markets. With our innovative technology, market leadership, global presence and great people, we're in an excellent position to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. future opportunities." About Agilent Technologies Agilent Technologies Inc. (NYSE: A) is a global technology leader in communications, electronics, life sciences and healthcare. With 48,000 employees serving customers in more than 120 countries, Agilent had net revenue of $10.8 billion in fiscal year 2000. Information about Agilent Technologies can be found on the Web at www.agilent.com. More financial information about this quarter's earnings is available at www.investor.agilent.com. Agilent management will host a live webcast of its quarterly conference call with the investment community in listen-only mode today at 1:30 p.m. PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT at www.investor.agilent.com (click on "conference calls"). The webcast will remain available on the company's Web site for 30 days. A telephone replay of the conference call will be available at 4:00 p.m. PDT on May 17 through 4:00 p.m. PDT on May 24. The replay number is +1-719-457-0820 (enter pass code 740411). This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. (including, without limitation, information regarding various expense reduction measures, projected orders, revenue, earnings, expected savings from cost reduction measures, the timing of the sale of the HSG HSG High School Graduate HSG Housing HSG Hysterosalpingogram HSG Hysterosalpingography HSG Hochschule St. Gallen (Switzerland) HSG Huntington Study Group HSG High Sierra Group HSG Hotspot Gateway (802. business and overall financial results) that involve risks and uncertainties that could cause the results of Agilent Technologies to differ materially from management's current expectations. In addition, other risks that Agilent faces in running its operations include: the ability to identify and execute To run a program, which causes the computer to carry out its instructions. See executable code, instruction and EXE file. execute - execution successfully through industry business cycles; the ability to manage inventory levels to adapt to the current economic slowdown and setbacks in our customers' businesses, the impact of potential shortages of electricity and power in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). on Agilent, its customers and suppliers; the timely ability to adapt manufacturing capacity to changing order demand; the ability to quickly adapt cost structures to rapidly changing adverse business conditions, including absorption absorption [Lat.,=sucking from], taking of molecules of one substance directly into another substance. It is contrasted with adsorption, in which the molecules adhere only to the surface of the second substance. of the fixed costs fixed costs, n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). allocated to the healthcare solutions business; the successful completion of the sale and transition of its healthcare solutions business to Royal Philips Electronics; the economic, political and other risks associated with international sales and operations; the successful redesign re·de·sign tr.v. re·de·signed, re·de·sign·ing, re·de·signs To make a revision in the appearance or function of. re and implementation of the company's business process and systems; and other risks detailed in Agilent's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended October October: see month. 31, 2000 and Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended January January: see month. 31, 2001, as filed with the Securities and Exchange Commission.
AGILENT TECHNOLOGIES, INC.
PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF EARNINGS
Excluding Amortization of Goodwill and Other Intangibles,
Acquisition and Divestitures Related Items and
Other One-Time and Non-Operational Items
(Unaudited)
(In millions, except per share amounts)
Three Months Ended
April 30, Percent
-------------------------------
2001 2000 Inc/(Dec)
Orders $ 1,759 $ 2,984 (41%)
Net revenue $ 2,744 $ 2,485 10%
Costs and expenses:
Cost of products
and services 1,604 1,261 27%
Research and
development 378 296 28%
Selling, general and
administrative 678 699 (3%)
------- -------
Total costs &
expenses 2,660 2,256 18%
------- -------
Earnings from operations 84 229 (63%)
Other income (expense), net (8) 17 (147%)
------- -------
Earnings before taxes 76 246 (69%)
Provision for taxes 25 81 (69%)
------- -------
Pro forma net earnings $ 51 $ 165 (69%)
======= =======
Pro forma net
earnings per share - Basic $ 0.11 $ 0.36
======= =======
Pro forma net
earnings per
share - Diluted $ 0.11 $ 0.35
======= =======
Average shares used
in computing pro
forma net
earnings per share:
Basic 456 452
Diluted 461 465
The above pro forma condensed consolidated statement of earnings
has been adjusted to exclude the following one-time and
non-operational items and reconcile to GAAP net earnings:
Net earnings per GAAP $ 96 $ 166
Pro forma adjustments:
Goodwill &
other intangibles 95 15
Costs relating to
sale of HSG to Phillips 27 -
Gain on land sale (269) -
Gain relating to sale
of securities - (25)
Adjustment for
income taxes 102 9
------- -------
Pro forma net earnings $ 51 $ 165
======= =======
AGILENT TECHNOLOGIES, INC.
PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF EARNINGS
Excluding Amortization of Goodwill and Other Intangibles,
Acquisition and Divestitures Related Items and
Other One-Time and Non-Operational Items
(Unaudited)
(In millions, except per share amounts)
Six Months Ended
April 30, Percent
2001 2000 Inc/(Dec)
------ ------ ------
Orders $4,562 $5,672 (20%)
Net revenue $5,585 $4,731 18%
Costs and expenses:
Cost of products
and services 3,053 2,421 26%
Research and
development 750 586 28%
Selling, general and
administrative 1,357 1,312 3%
------ ------
Total costs & expenses 5,160 4,319 19%
Earnings from operations 425 412 3%
Other income (expense), net 5 48 (90%)
------ ------
Earnings before taxes 430 460 (7%)
Provision for taxes 142 152 (7%)
------ ------
Pro forma net earnings $ 288 $ 308 (7%)
====== ======
Pro forma net
earnings per
share - Basic $ 0.63 $ 0.68
====== ======
Pro forma net
earnings per
share - Diluted $ 0.62 $ 0.67
====== ======
Average shares
used in computing
pro forma net
earnings per share:
Basic 455 452
Diluted 464 462
The above pro forma condensed consolidated statement of earnings
has been adjusted to exclude the following one-time and
non-operational items and reconcile to GAAP net earnings:
Net earnings per GAAP $ 250 $ 297
Pro forma adjustments:
Goodwill & other
intangibles 144 27
FAS 133 adoption 41 -
Costs relating to
sale of HSG to
Phillips 40 -
Gain on land sale (269) -
Gain relating to
sale of securities (6) (25)
Adjustment for
income taxes 88 9
------ ------
Pro forma net earnings $ 288 $ 308
====== ======
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
Three Months Ended
April 30, Percent
2001 2000 Inc/(Dec)
------- ------- -------
Orders $ 1,759 $ 2,984 (41%)
Net revenue $ 2,744 $ 2,485 10%
Costs and expenses:
Cost of products
and services 1,608 1,261 28%
Research and
development 380 296 28%
Selling, general and
administrative 794 714 11%
------- -------
Total costs &
expenses 2,782 2,271 23%
------- -------
(Loss)/earnings from
operations (38) 214 (118%)
Other income (expense), net 261 42 521%
------- -------
Earnings before taxes 223 256 (13%)
Provision for taxes 127 90 41%
------- -------
Net earnings $ 96 $ 166 (42%)
======= =======
Basic net
earnings per share $ 0.21 $ 0.37
Diluted net
earnings per share $ 0.21 $ 0.36
Average shares used
in computing net
earnings per share:
Basic 456 452
Diluted 461 457
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
Six Months Ended
April 30, Percent
--------------------------------
2001 2000 Inc/(Dec)
----------- --------- --------
Orders $ 4,562 $ 5,672 (20%)
Net revenue $ 5,585 $ 4,731 18%
Costs and expenses:
Cost of products and services 3,057 2,421 26%
Research and development 752 586 28%
Selling, general
and administrative 1,535 1,339 15%
----------- ---------
Total costs & expenses 5,344 4,346 23%
----------- ---------
Earnings from operations 241 385 (37%)
Other income (expense), net 280 73 284%
----------- ---------
Earnings before taxes and
cumulative effect of a
change in accounting principle 521 458 14%
Provision for taxes 246 161 53%
----------- ---------
Net earnings before cumulative
effect of a change in
accounting principle 275 297 (7%)
Cumulative effect of
adopting FAS 133
(net of tax benefit
of $16 million) (25) - N/M
----------- ---------
Net earnings $ 250 $ 297
=========== =========
Net earnings per share - Basic:
Net earnings before cumulative
effect of a change in
accounting principle $ 0.60 $ 0.67
Cumulative effect of
adopting FAS 133 (0.05) -
----------- ---------
$ 0.55 $ 0.67
=========== =========
Net earnings per share - Diluted:
Net earnings before cumulative
effect of a change in
accounting principle $ 0.59 $ 0.66
Cumulative effect of
adopting FAS 133 (0.05) -
----------- ---------
$ 0.54 $ 0.66
=========== =========
Average shares used in computing
net earnings per share:
Basic 455 445
Diluted 464 448
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(Unaudited)
(In millions, except par value and share amounts)
April 30, October 31,
-----------------------
2001 2000
--------- -----------
ASSETS
Current assets:
Cash and cash equivalents $ 809 $ 996
Accounts receivable, net 1,894 2,201
Inventory 2,055 1,853
Other current assets 936 605
---------- ----------
Total current assets 5,694 5,655
Property, plant and equipment, net 1,899 1,741
Goodwill and other intangible assets, net 1,336 557
Other assets 664 472
---------- ----------
Total assets $ 9,593 $ 8,425
========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 653 $ 857
Notes payable and short-term debt 773 110
Employee compensation and benefits 689 699
Deferred revenue 440 372
Accrued income taxes and
other accrued liabilities 676 720
---------- ----------
Total current liabilities 3,231 2,758
---------- ----------
Other liabilities 746 402
Commitments and contingencies
Stockholders' equity:
Preferred stock; $0.01 par value;
125,000,000 shares authorized;
none issued and outstanding
Common stock; $0.01 par value;
2,000,000,000 shares authorized;
456,540,000 shares at April 30, 2001
and 453,976,000 shares at
October 31, 2000 issued
and outstanding 5 5
Additional paid-in capital 4,589 4,508
Retained earnings 1,007 757
Accumulated comprehensive
income (loss) 15 (5)
---------- ----------
Total stockholders' equity 5,616 5,265
---------- ----------
Total liabilities and
stockholders' equity $ 9,593 $ 8,425
========== ==========
AGILENT TECHNOLOGIES, INC.
EARNINGS (LOSS) FROM OPERATIONS
BY BUSINESS SEGMENT
(Unaudited)
(In Millions)
For the three months ended April 30
Yr vs.Yr Sequential Yr vs. Yr Sequential
2001 2000 %change %change
--------------------------------------
EARNINGS (LOSS) FROM OPERATIONS
Test and measurement $ 44 $ 193 (77%) (82%)
Semiconductor products (88) 58 (252%) (247%)
Healthcare solutions 3 (30) (110%) (109%)
Chemical analysis 30 1 n/m 58%
Corporate and other (27) (8) 238% 108%
----- ----- ----- -----
Total $ (38) $ 214 (118%) (114%)
===== ===== ===== =====
PRO FORMA EARNINGS (LOSS) FROM OPERATIONS
Test and measurement $ 123 $ 197 (38%) (56%)
Semiconductor products (83) 59 (241%) (230%)
Healthcare solutions 10 (25) (140%) (142%)
Chemical analysis 34 4 750% 48%
Corporate and other 0 (6) (100%) n/m
----- ----- ----- -----
Total $ 84 $ 229 (63%) (75%)
===== ===== ===== =====
AGILENT TECHNOLOGIES, INC.
EARNINGS (LOSS) FROM OPERATIONS
BY BUSINESS SEGMENT
(Unaudited)
(In Millions)
For the six months ended April 30 Yr vs. Yr
2001 2000 %change
----------------------------------
EARNINGS (LOSS) FROM OPERATIONS
Test and measurement $ 289 $ 317 (9%)
Semiconductor products (28) 89 (131%)
Healthcare solutions (29) (13) 123%
Chemical analysis 49 14 250%
Corporate and other (40) (22) 82%
------- ------- -------
Total $ 241 $ 385 (37%)
======= ======= =======
PRO FORMA EARNINGS (LOSS) FROM OPERATIONS
Test and measurement $ 401 $ 326 23%
Semiconductor products (19) 91 (121%)
Healthcare solutions (14) (4) 250%
Chemical analysis 57 19 200%
Corporate and other 0 (20) (100%)
------- ------- -------
Total $ 425 $ 412 3%
======= ======= =======
AGILENT TECHNOLOGIES, INC.
ORDERS AND REVENUE
BY BUSINESS SEGMENT
(Unaudited)
(In Millions)
For the three months ended April 30
Yr vs.Yr Sequential
2001 2000 %change %change
------ ------ ------ ------
ORDERS
Test and measurement $ 932 $1,768 (47%) (42%)
Semiconductor products 200 626 (68%) (64%)
Healthcare solutions 362 349 4% 9%
Chemical analysis 265 241 10% (11%)
------ ------ ------ ------
Total $1,759 $2,984 (41%) (37%)
====== ====== ====== ======
NET REVENUE
Test and measurement $1,648 $1,385 19% (2%)
Semiconductor products 443 497 (11%) (26%)
Healthcare solutions 362 343 6% 24%
Chemical analysis 291 260 12% 9%
------ ------ ------ ------
Total $2,744 $2,485 10% (3%)
====== ====== ====== ======
In general, recorded orders represent firm purchase commitments
from our customers with established terms and conditions for products
and services that will be delivered within six months.
AGILENT TECHNOLOGIES, INC.
ORDERS AND REVENUE
BY BUSINESS SEGMENT
(Unaudited)
(In Millions)
For the six months ended April 30
Yr vs. Yr
2001 2000 %change
----------------------------------
ORDERS
Test and measurement $ 2,552 $ 3,281 (22%)
Semiconductor products 753 1,188 (37%)
Healthcare solutions 693 702 (1%)
Chemical analysis 564 501 13%
------- ------- -------
Total $ 4,562 $ 5,672 (20%)
======= ======= =======
NET REVENUE
Test and measurement $ 3,333 $ 2,546 31%
Semiconductor products 1,038 944 10%
Healthcare solutions 655 738 (11%)
Chemical analysis 559 503 11%
------- ------- -------
Total $ 5,585 $ 4,731 18%
======= ======= =======
In general, recorded orders represent firm purchase commitments from
our customers with established terms and conditions for products and
services that will be delivered within six months.
AGILENT TECHNOLOGIES, INC.
PERCENT CHANGE IN Q2 ORDERS AND NET REVENUE BY MARKET SEGMENT
YEAR VERSUS YEAR COMPARISON
Q2 FY01 versus Q2 FY00
(Unaudited)
Orders Revenue
------------------------ -------------------------
Q2 FY01 %Change % of Q2 FY01 % Change % of
$ Amount Y/Y Segment $ Amount Y/Y Segment
------------------------ -------------------------
Test and measurement
Communications
test $ 676 (36%) 73% $ 1,100 37% 67%
Semiconductor
test 28 (91%) 3% 186 (16%) 11%
General
purpose test 228 (43%) 24% 362 0% 22%
----- ----- ----- -----
$ 932 (47%) 100% $ 1,648 19% 100%
===== ===== ===== =====
Semiconductor products
Networking and
computing $ 20 (92%) 10% $ 208 7% 47%
Wireless 13 (88%) 7% 54 (35%) 12%
Imaging 105 (39%) 52% 112 (8%) 25%
Core opto business 62 (43%) 31% 69 (31%) 16%
----- ----- ----- -----
$ 200 (68%) 100% $ 443 (11%) 100%
===== ===== ===== =====
AGILENT TECHNOLOGIES, INC.
PERCENT CHANGE IN Q2 ORDERS AND NET REVENUE BY MARKET SEGMENT
SEQUENTIAL COMPARISON
Q2 FY01 versus Q1 FY01
(Unaudited)
Orders Revenue
----------------------- ----------------------
Q2 FY01 %Change %of Q2 FY01 %Change %of
$ Amount Y/Y Segment $ Amount Y/Y Segment
----------------------- ----------------------
Test and measurement
Communications test $ 676 (38%) 73% $ 1,100 3% 67%
Semiconductor test 28 (83%) 3% 186 (16%) 11%
General purpose test 228 (36%) 24% 362 (9%) 22%
------ ------ ------ ------
$ 932 (42%) 100% $ 1,648 (2%) 100%
====== ====== ====== ======
Semiconductor products
Networking and
computing $ 20 (93%) 10% $ 208 (22%) 47%
Wireless 13 (85%) 7% 54 (45%) 12%
Imaging 105 (10%) 52% 112 (23%) 25%
Core opto business 62 (17%) 31% 69 (20%) 16%
------ ------ ------ ------
$ 200 (64%) 100% $ 443 (26%) 100%
====== ====== ====== ======
AGILENT TECHNOLOGIES, INC.
ORDERS AND NET REVENUE FROM OPERATIONS BY GEOGRAPHY
For The Three Months Ended April 30
(Unaudited)
(Percent)
(In millions) USD Local Currency
2001 2000 Growth Growth
------ ------ ------ ------
ORDERS
United States $ 709 $1,320 (46%) (46%)
Europe 428 657 (35%) (29%)
Asia Pacific 541 838 (35%) (32%)
Latin America 38 74 (49%) (48%)
Canada 43 95 (55%) (53%)
------ ------
Total $1,759 $2,984 (41%) (38%)
====== ======
NET REVENUE
United States $1,082 $1,040 4%
Europe 587 552 6%
Asia Pacific 856 740 16%
Latin America 65 73 (11%)
Canada 154 80 93%
------ ------
Total $2,744 $2,485 10%
====== ======
In general, recorded orders represent firm purchase commitments
from our customers with established terms and conditions for products
and services that will be delivered within six months.
AGILENT TECHNOLOGIES, INC.
ORDERS AND NET REVENUE FROM OPERATIONS BY GEOGRAPHY
For The Six Months Ended April 30
(Unaudited)
(Percent)
(In millions) USD Local Currency
2001 2000 Growth Growth
------ ------ ------ ------
ORDERS
United States $1,853 $2,395 (23%) (23%)
Europe 1,056 1,274 (17%) (8%)
Asia Pacific 1,422 1,658 (14%) (12%)
Latin America 99 138 (28%) (28%)
Canada 132 207 (36%) (35%)
------ ------
Total $4,562 $5,672 (20%) (17%)
====== ======
NET REVENUE
United States $2,355 $2,008 17%
Europe 1,204 1,059 14%
Asia Pacific 1,629 1,368 19%
Latin America 147 150 (2%)
Canada 250 146 71%
------ ------
Total $5,585 $4,731 18%
====== ======
In general, recorded orders represent firm purchase commitments
from our customers with established terms and conditions for products
and services that will be delivered within six months.
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