Free Post Earnings Research Report: Keysight’s Revenues Surged 31%; Non-GAAP EPS Advanced 30%

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LONDON, UK / ACCESSWIRE / June 27, 2018 / If you want access to our free earnings report on Keysight Technologies, Inc. (NYSE: KEYS) (“Keysight”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=KEYS. The Company reported its second quarter fiscal 2018 operating and financial results on May 29, 2018. The electronic measurement technology Company beat revenue estimates, while its earnings were in-line with market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, ended April 30, 2018, Keysight’s GAAP revenues surged 31% to $990 million compared to $753 million in Q2 FY17. The Company’s non-GAAP revenues, which exclude the impact of fair value adjustments to acquisition-related deferred revenue balances, grew 32% to $999 million in the reported quarter. Keysight’s revenue numbers beat analysts’ estimates by $38.39 million.

For Q2 FY18, Keysight reported a GAAP net income of $64 million, or $0.34 per share, compared to $49 million, or $0.27 per share, in Q2 FY17. The Company’s non-GAAP net income was $158 million, or $0.83 per share using 190 million weighted average shares, in the reported quarter compared to $114 million, or $0.64 per share using 179 million weighted average shares, in the prior year’s same quarter. Keysight’s earnings met Wall Street’s estimates of $0.83 per share.

Segment Results

During Q2 FY18, Keysight’s Communications Solutions Group (CSG) segment’s revenues rose 27% to $536 million compared to $424 million in Q2 FY17, driven by 5G-related research and development (R&D) spending across the wireless ecosystem, an early investment in next-generation 400G and PAM-4 network test, and a strong growth in the aerospace, defense, and government end market of 27% y-o-y. The CSG segment’s operating margin was 23% in Q2 FY18 compared to 18% in Q2 FY17.

For Q2 FY18, Keysight’s Electronic Industrial Solutions Group (EISG) segment’s revenues advanced 16% to $255 million compared to $220 million in Q2 FY17, driven by a strong growth for automotive and energy and general electronics measurement solutions. The EISG segment’s operating margin came in at 26% in the reported quarter, which was flat on a y-o-y basis.

Keysight’s Ixia Solutions Group (ISG) segment’s revenues were $90 million in Q2 FY18 compared to $12 million in Q2 FY17. The segment’s results for the reported quarter were impacted by extensive integration efforts. Keysight stated that many of these integration issues are now resolved and the expected annual cost synergies are ramping as planned. The ISG segment’s operating margin was negative 8% in Q2 FY18 versus negative 13% in Q2 FY17.

During Q2 FY18, Keysight’s Services Solutions Group (SSG) segment’s revenues advanced 15% to $118 million compared to $102 million in Q2 FY17, driven by a double-digit growth for the Company’s calibration, remarketed, and repair services and solutions. The SSG segment’s operating margin came in at 15%, lower than 16% in the year earlier comparable quarter.

Cash Matters

As of April 30, 2018, Keysight’s cash and cash equivalents totaled $784 million. During Q2 FY18, the Company generated a cash flow from operations of $111 million, while it invested $34 million in capital purchases, bringing Keysight’s free cash flow to $77 million in the reported quarter.

Outlook

For the third quarter of the fiscal year 2018, Keysight is forecasting revenues to be in the range of $937 million to $967 million. The Company is expecting non-GAAP revenues to be in the band of $942 million to $972 million for the upcoming quarter. Keysight is anticipating non-GAAP earnings per share to be in the range of $0.72 to $0.82 for Q3 FY18.

Stock Performance Snapshot

June 26, 2018 – At Tuesday’s closing bell, Keysight Technologies’ stock climbed 1.06%, ending the trading session at $59.36.

Volume traded for the day: 901.31 thousand shares.

Stock performance in the last month – up 11.37%; previous three-month period – up 15.62%; past twelve-month period – up 55.51%; and year-to-date – up 42.69%

After yesterday’s close, Keysight Technologies’ market cap was at $11.30 billion.

The stock is part of the Technology sector, categorized under the Scientific & Technical Instruments industry. This sector was up 0.3% at the end of the session.

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