Keysight Reports Fiscal Quarter and Year Financial Results
Wednesday, November 27, 2019 | Comments

Keysight Technologies reported financial results for the fourth fiscal quarter of 2019 ended Oct. 31.

In the fourth quarter, GAAP revenue increased 7 percent to reach $1.12 billion, compared with $1.047 billion last year. GAAP net income for the quarter was $195 million compared with GAAP net loss of $114 million in the fourth quarter of 2018. At the end of October, cash and cash equivalents totaled $1.598 billion.

For the full fiscal year, GAAP revenue increased 11 percent over last year and totaled $4.303 billion. GAAP net income was $621 million compared with $165 million in fiscal 2018. Keysight acquired about 2.1 million shares in the open market at an average share price of $76.32, for a total consideration of $160 million during fiscal year 2019. Keysight has $410 million remaining under the current $500 million share repurchase authorization implemented in May 2019.

Keysight’s first fiscal quarter of 2020 revenue is expected to be in the range of $1.045 billion to $1.065 billion.

“Keysight delivered a very strong finish to the year with both revenue and earnings exceeding the high end of our guidance for the quarter,” said Ron Nersesian, Keysight president and CEO. “Record-setting quarterly and annual revenue was driven by growth across our portfolio of differentiated solutions, and broad-based momentum across multiple end markets. We continued to execute on our strategy and growth initiatives while exceeding our commitments to customers and shareholders.”

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