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Agilent beats 4Q profit forecasts

Agilent Technologies on Monday reported profit of $16 million in its fiscal fourth quarter.

On a per-share basis, the Santa Clara, California-based company said it had net income of 5 cents. Earnings, adjusted for non-recurring costs and to extinguish debt, came to 88 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The scientific instrument maker posted revenue of $1.81 billion in the period, which matched Street forecasts.

For the current quarter ending in January, Agilent expects its per-share earnings to range from 39 cents to 43 cents.

The company said it expects revenue in the range of $1.02 billion to $1.04 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.37 billion.

Agilent expects full-year earnings in the range of $1.68 to $1.78 per share, with revenue ranging from $4.12 billion to $4.18 billion.

Agilent shares have fallen 28 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 10 percent. In the final minutes of trading on Monday, shares hit $41.27, a drop of 25 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. A stock research report from Zacks.