Keysight Technologies Reports Fourth Quarter 2018 Results

Achieved Record Orders and Record Revenue

SANTA ROSA, Calif. — (BUSINESS WIRE) — November 20, 2018 — Keysight Technologies, Inc. (NYSE: KEYS) today reported financial results for the fourth fiscal quarter of 2018 ended Oct. 31, 2018.

“Keysight delivered a very strong finish to a breakout year with both revenue and earnings exceeding the high-end of our guidance for the quarter. Revenue grew 19 percent on a GAAP basis and 16 percent on a non-GAAP basis to reach a record $1.05 billion as we continue to see broad-based momentum across multiple end markets with our solutions. Fiscal 2018 was a record year for Keysight and we are pleased with our total performance. The investments we have made over the past several years in our technology, solutions, software and services are delivering results and have enabled Keysight to be at the forefront and capture the demand we see in the market,” said Ron Nersesian, Keysight president and CEO.

Fourth Quarter Financial Summary

  • GAAP revenue grew 19 percent to reach $1,047 million, when compared with $878 million last year. Non-GAAP revenue, which excludes the impact of fair value adjustments to acquisition-related deferred revenue balances, grew 16 percent to reach $1,051 million. Non-GAAP core revenue, which also excludes the impact of foreign currency changes and revenue associated with businesses acquired or divested within the last twelve months, increased 17 percent.
  • GAAP net loss was $114 million, or $0.61 per share, compared with a GAAP net loss of $38 million, or $0.20 per share, in the fourth quarter of 2017. Fourth quarter 2018 GAAP net loss reflects a non-cash goodwill impairment charge partially offset by a benefit from tax planning initiatives within the quarter.
  • Non-GAAP net income was $193 million, or $1.01 per share using 191 million weighted average shares, compared with $135 million, or $0.71 per share using 189 million weighted average shares in the fourth quarter of 2017.
  • As of October 31, 2018, cash and cash equivalents totaled $913 million.

Fiscal Year 2018 Financial Summary

  • GAAP revenue grew 22 percent over last year and totaled $3.9 billion. Non-GAAP revenue grew 20 percent to reach $3.9 billion. Non-GAAP core revenue grew 13 percent year-over-year.
  • GAAP net income was $165 million, or $0.86 per share, compared with $102 million, or $0.56 per share in fiscal 2017. Non-GAAP net income was $618 million, or $3.24 per share, compared with $462 million, or $2.53 per share in fiscal 2017.
  • Under the $350 million share repurchase authorization implemented in March 2018, Keysight acquired approximately 2 million shares in the open market at an average share price of $57.91, for a total consideration of $120 million during fiscal year 2018. Keysight has $230 million remaining under the current share repurchase authorization.

Reporting Segments

  • Communications Solutions Group (CSG)

CSG reported record revenue of $566 million in the fourth quarter, up 23 percent, driven by 5G-related R&D spending across the wireless ecosystem, data center next-generation 400GbE, high-speed digital test and aerospace, defense and government.

  • Electronic Industrial Solutions Group (EISG)

EISG revenue grew a record 21 percent in the fourth quarter to $249 million, driven by solid double-digit growth for automotive and energy, general electronics and semiconductor measurement solutions.

  • Ixia Solutions Group (ISG)

ISG revenue was $115 million in the fourth quarter, compared with $124 million in the prior year fourth quarter. ISG continued to improve sales execution; however, revenue was adversely impacted by the contract manufacturing transition.

  • Services Solutions Group (SSG)

SSG revenue grew 10 percent in the fourth quarter to a record $121 million, driven by growth in calibration, remarketed and repair services and solutions.

Outlook

Keysight’s first fiscal quarter of 2019 GAAP revenue is expected to be in the range of $962 million to $982 million and non-GAAP revenue for the first fiscal quarter of 2019 is expected to be in the range of $965 million to $985 million.

1 | 2 | 3 | 4  Next Page »



Review Article Be the first to review this article
Aldec

 True Circuits: Ultra PLL

Featured Video
Latest Blog Posts
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Automation of the UVM Register Abstraction Layer
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Virtual 2020 CEO Outlook Set for June 17
Colin WallsEmbedded Software
by Colin Walls
Multiple constructors in C++
Jobs
Senior Application Engineer Formal Verification for EDA Careers at San Jose and Austin, California
Software Engineer for EDA Careers at RTP, North Carolina
Senior Layout Engineer for EDA Careers at EAST COAST, California
Senior Analog Design Engineers #5337 for EDA Careers at EAST COAST, California
Upcoming Events
Sensors Expo & Conference at McEnery Convention Center 150 W. San Carlos Street SAN JOSE CA - Jun 22 - 24, 2020
Nanotech 2020 Conference and Expo at National Harbor MD - Jun 29 - 1, 2020
IEEE Computer Society Annual Symposium on VLSI (ISVLSI) 2020 at Limassol Hotel, Amathus Area, Pareklisia Cyprus - Jul 6 - 8, 2020
57th Design Automation Conference 2020 at San Francisco CA - Jul 19 - 23, 2020



© 2020 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise