Agilent Technologies lowers guidance for first quarter 2003 results

Agilent Technologies Inc. today announced that it expects its results for the first fiscal quarter ending Jan. 31, 2003 to be below the guidance provided in its fourth quarter earnings release.

First quarter revenues are now expected to be in the range of $1.35 billion to $1.45 billion, compared to previous guidance of $1.5 billion to $1.6 billion. Earnings Before Restructuring (EBR) are now anticipated to be a loss in the range of $0.22 to $0.28 per share. Prior guidance was for an operating EBR loss of $0.05 to $0.15 per share.

Agilent Chairman, President and Chief Executive Officer Ned Barnholt said, "We are seeing a collective hesitation by many of our customers, who are deferring big ticket capital expenditures. Whether because of general economic weakness or geopolitical uncertainties, the result has been a continuation of the pattern of weak orders that we've experienced for the past year and a half.

"During our first quarter earnings conference call on Feb. 21 we will discuss the actions we are taking to return Agilent to profitability during the second half of this year, even at current order levels."

The company will release first fiscal quarter earnings before the market opens on Feb. 21, 2003 and will hold its quarterly conference call beginning at 7 a.m. Pacific Time on that date.

Quelle: Agilent Technologies