Keysight Technologies Reports Fourth Quarter and Fiscal 2017 Results

04:59 12/06/2017

Keysight Technologies, Inc. KEYS , a leading technology company that helps its engineering, enterprise and service provider customers accelerate innovation to connect and secure the world, reported financial results for the fourth fiscal quarter and fiscal year ended Oct. 31, 2017.

Fourth Quarter Summary:

GAAP revenue grew 17 percent to reach $878 million, when compared with $751 million last year. Non-GAAP revenue, which excludes the impact of fair value adjustment to acquisition-related deferred revenue balances, grew 20 percent to reach $902 million or 3 percent on a core basis. As of Oct. 31, 2017, cash and cash equivalents totaled $818 million.

Fiscal Year 2017 Summary:

GAAP revenue grew 9 percent over last year and totaled $3.2 billion. Non-GAAP revenue grew 11 percent to reach $3.2 billion. Non-GAAP core revenue grew 2 percent year-over-year. GAAP operating margin was 7 percent, compared with 14 percent in fiscal 2016. Non-GAAP operating margin was 19 percent, compared with 19 percent in fiscal 2016. GAAP net income was $102 million, or $0.56 per share, compared with $335 million, or $1.95 per share in fiscal 2016. Non-GAAP net income was $462 million, or $2.53 per share, compared with $419 million, or $2.43 per share in fiscal 2016.

First Half Fiscal 2018 Outlook:

Keysight provides guidance based on current market conditions and expectations. Given Keysight’s headquarters was under mandatory evacuation for more than three weeks due to the northern California wildfires, the seasonality of revenue will be impacted in the next few quarters and the company is focusing its guidance on the first half of fiscal year 2018.

Keysight’s first half of 2018 GAAP revenue is expected to be approximately $1,748 million and non-GAAP revenue for the first half of 2018 is expected to be approximately $1,775 million. Keysight’s first quarter 2018 GAAP revenue is expected to be in the range of $762 million to $802 million and non-GAAP revenue is expected to be in the range of $780 million to $820 million, reflecting unusual seasonality due to the impact to operations from the northern California wildfires.

Keysight Technologies Teams With European Space Agency, Airbus, SpaceTech GmbH to Evaluate Radar for Icy Moons Exploration Antenna:

Keysight Technologies, Inc. KEYS  also recently announced that the FieldFox handheld RF analyzer was used in the evaluation of the impedance of the radar antenna for icy moons exploration (RIME), a key component of one of the ten science payloads of the European Space Agency’s Jupiter icy moons explorer (JUICE) spacecraft scheduled for launch in 2022.

RIME engineers performed phase-matching and orientation tests of the RIME antenna in Heiligenberg, Germany in September 2017. They also evaluated two radar antennas, one aluminum and the other carbon fiber reinforced polymer (CFRP), which will be used on the spacecraft. The antennas were housed on a satellite-sized enclosure, and the enclosure was lifted 300 meters in the air by helicopter to ensure low-RF coupling to the ground.

Keysight’s handheld FieldFox analyzer was used in remote mode to measure S-parameter characteristics of the antenna in flight as it was rotated more than 180 degrees and with the spacecraft mock-up being maneuvered by helicopter. Test data was recovered at a base station on the ground via a wireless link between the FieldFox and the ground base station.

“We are pleased at being chosen as a key test solution provider for evaluation of the RIME antenna,” said Greg Peters, vice president and general manager, Aerospace, Defense, Government Solutions Group, Keysight Technologies. “By measuring the matching characteristics of a trial radar antenna, ESA and Airbus engineers can correlate design simulation with actual test data.”

“The test was a fundamental step towards understanding the behavior of the real antenna that will ultimately allow us to perform highly accurate measurements of the radar echoes reflected from the deep subsurface of the Jovian icy moons,” said principal investigator, Lorenzo Bruzzone, University of Trento, Italy.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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