Agilent Technologies Announces First Quarter Fiscal Year 2018 Financial Results

Key Points:

• First quarter fiscal 2018 operating income of $1.

• On a GAAP basis, Agilent reported a first-quarter net loss of $320 million, or $0.

• On a non-GAAP basis, Agilent's first quarter fiscal 2018 net income of $216 million, or $0.

• Company operating income is expected to be between $1.

• For fiscal 2018, Agilent's core operating income growth guidance is expected to increase from the midpoint of 4.

• Agilent expects operating cash flow to grow from $970 million to $1.

Agilent Technologies Inc.

On a GAAP basis, including a provision of $533 million related to the U.

In the first quarter, Agilent made a $533 million tax provision for the U.

Mike McMullen, Agilent President and CEO, said: "We are thrilled to have a strong start to the new fiscal year

He added: "Going forward, we will continue to focus on the company's sustainable growth goals and lead the industry, while relentlessly executing market-appropriate growth strategies to create long-term value for our shareholders

In the first quarter, Agilent's Life Sciences and Applied Markets Group (LSAG) reported operating income of $618 million, up 14% year over year (11% in core operating income (2)), while delivering strong growth across all major end markets

In the first quarter, Agilent's CrossLab Group (ACG) operating income was $408 million, an increase of 12% year over year (core operating income increased 9% (2))

Agilent Diagnostics and Genetics Group (DGG) operating income was $185 million in the first quarter, up 13% year over year (core operating income up 8%), led by strong demand for rapidly growing pathology products and companion diagnostic services

Operating income for the second quarter of fiscal 2018 is expected to be between $1.

For the full fiscal year 2018, Agilent is expected to report operating income in the range of $4.