8-KRegulation FDExhibits & Filings

AGILENT TECHNOLOGIES, INC. 8-K Report, Regulation FD Disclosure (Dec 12, 2006)

Filed December 12, 2006For Securities:A

Summary

Agilent Technologies, Inc. (Agilent) filed a Form 8-K on December 12, 2006, to disclose information presented at its annual Analyst Meeting. The primary focus for investors is the reconfirmation of financial guidance for the fiscal first quarter of 2007 (ending January 31, 2007). Agilent anticipates revenues between $1.25 billion and $1.29 billion, representing a 7% to 10% increase year-over-year. Furthermore, adjusted net income per share is projected to be in the range of $0.36 to $0.40, indicating a significant year-over-year growth of 24% to 38%. In addition to the quarterly outlook, Agilent expressed confidence in meeting the current range of analyst estimates for both revenue and adjusted net income for the full fiscal year ending October 31, 2007. The filing also references an updated operating model presented to analysts, suggesting a focus on strategic execution and financial performance. Investors should note that the adjusted net income is a non-GAAP measure, excluding certain items like restructuring charges and stock-based compensation.

Key Highlights

  • 1Reaffirmed Q1 FY2007 revenue guidance of $1.25 billion to $1.29 billion (7-10% year-over-year growth).
  • 2Reaffirmed Q1 FY2007 adjusted net income per share guidance of $0.36 to $0.40 (24-38% year-over-year growth).
  • 3Expressed comfort with current analyst estimates for full fiscal year 2007 revenue and adjusted net income.
  • 4Presented an updated operating model to securities analysts and investors.
  • 5The adjusted net income is a non-GAAP measure, excluding restructuring charges, stock-based compensation, and intangibles amortization.
  • 6Information disclosed under Regulation FD is not considered filed for the purposes of the 1934 Securities Exchange Act.

Frequently Asked Questions

Agilent is reconfirming its financial guidance for the fiscal first quarter of 2007, expecting revenues between $1.25 billion and $1.29 billion, a 7-10% increase from the prior year. Adjusted net income per share is projected between $0.36 and $0.40, representing a 24-38% growth over the same period.

For the fiscal year ending October 31, 2007, Agilent stated that it is comfortable with the current range of analyst estimates for both revenue and adjusted net income, indicating a positive outlook for the full year.

Adjusted net income is a non-GAAP measure that excludes items such as future restructuring and asset impairment charges, non-cash stock-based compensation, and amortization of intangibles. Agilent uses this measure to provide a clearer view of its ongoing operational performance, as many of the excluded items relate to events that have not yet occurred or are difficult to estimate.

The filing also notes that Agilent presented its updated operating model to analysts and investors during its annual Analyst Meeting. This information was shared under Regulation FD, meaning it is for disclosure purposes and not formally filed as part of the report under the Securities Exchange Act of 1934.