Keysight Technologies Reports Third-Quarter 2015 Results

Highlights:

  • GAAP net income of $70 million, or $0.41 per share
  • Non-GAAP net income of $94 million, or $0.55 per share(1)
  • Revenues of $665 million, down 12 percent year-over-year and down 9 percent excluding currency and acquisitions(2)
  • Fourth-quarter fiscal year 2015 revenue guidance of $735 million to $775 million; non-GAAP earnings guidance of $0.57 to $0.71 per share(3)
  • Full-year fiscal year 2015 revenue guidance of $2.84 to $2.88 billion; non-GAAP earnings guidance of $2.38 to $2.52 per share(3)

SANTA ROSA, Calif. — (BUSINESS WIRE) — August 19, 2015 — Keysight Technologies, Inc. (NYSE: KEYS) today reported revenues of $665 million for the third fiscal quarter ended July 31, 2015, down 12 percent compared with one year ago, or down 9 percent excluding the impact of currency and acquisitions.(2)

Third-quarter non-GAAP net income was $94 million, or $0.55 per share,(1) which excludes GAAP to non-GAAP adjustments of $24 million. Third-quarter GAAP net income was $70 million, or $0.41 per share.

“We delivered solid profit performance in the third quarter despite a challenging market environment,” said Ron Nersesian, Keysight president and CEO.

“Our acquisition of Anite closed ahead of schedule on August 13. The transaction is a significant step forward as we execute our strategy to grow in wireless and expand our software solutions,” added Nersesian. “We are excited to have the talented Anite team join us as they bring new skills, capabilities and opportunities to Keysight.”

Keysight’s fourth-quarter 2015 revenues are expected to be in the range of $735 million to $775 million. Fourth-quarter non-GAAP earnings are expected to be in the range of $0.57 to $0.71 per share.(3)

Full-year fiscal year 2015 revenues are expected to be in the range of $2.84 to $2.88 billion, and non-GAAP earnings are expected to be in the range of $2.38 to $2.52 per share.(3)

Webcast

Keysight’s management will present more details about its third-quarter FY2015 financial results on a conference call with investors today at 1:30 p.m. PT. This event will be webcast in listen-only mode. Listeners may log on and select Q3 2015 Keysight Technologies, Inc. Results Conference Call in the Investor News & Events – Upcoming Events section at www.investor.keysight.com. The webcast will remain on the company site for 90 days.

A telephone replay of the conference call will be available at approximately 4:30 p.m. PT, August 19 through August 24 by dialing +1 855 859 2056 (or +1 404 537 3406 from outside the United States) and entering pass code 75890683.

About Keysight Technologies

Keysight Technologies (NYSE: KEYS) is a global electronic measurement technology and market leader helping to transform its customers’ measurement experience through innovations in wireless, modular, and software solutions. Keysight’s electronic measurement instruments, systems, software and services are used in the design, development, manufacture, installation, deployment and operation of electronic equipment. The business had revenues of $2.9 billion in fiscal year 2014. Information about Keysight is available at www.keysight.com.

Forward-Looking Statements

This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding Keysight’s future revenues, earnings and profitability; the future demand for the company’s products and services; and customer expectations. These forward-looking statements involve risks and uncertainties that could cause Keysight’s results to differ materially from management’s current expectations. Such risks and uncertainties include, but are not limited to, unforeseen changes in the strength of our customers’ businesses; unforeseen changes in the demand for current and new products, technologies, and services; customer purchasing decisions and timing, and the risk that we are not able to realize the savings or benefits expected from integration and restructuring activities.

In addition, other risks that Keysight faces include those detailed in Keysight’s filings with the Securities and Exchange Commission, including our Form 10-Q for the fiscal quarter ended April 30, 2015. Forward-looking statements are based on the beliefs and assumptions of Keysight’s management and on currently available information. Keysight undertakes no responsibility to publicly update or revise any forward-looking statement.


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