Keysight Technologies Reports First Quarter 2018 Results

SANTA ROSA, Calif. — (BUSINESS WIRE) — March 1, 2018 — Keysight Technologies, Inc. (NYSE: KEYS) today reported financial results for the first fiscal quarter of 2018 ended Jan. 31, 2018.

“We delivered another outstanding quarter with both revenue and earnings exceeding our guidance. Our better than expected results were driven by continued strong order growth across our markets and our ability to recover from the Northern California wildfires faster than we had planned," said Ron Nersesian, Keysight president and CEO.

"Order growth accelerated to 39 percent overall and 16 percent on a core basis driven by strength in our key focus areas including 5G, automotive & energy and aerospace and defense. Our transformation strategy is delivering results, and we are pleased with our performance and growing leadership position in the market.” Nersesian added.

First Quarter Financial Summary

  • GAAP revenue grew 15 percent to reach $837 million, when compared with $726 million last year. Non-GAAP revenue, which excludes the impact of fair value adjustment to acquisition-related deferred revenue balances, grew 18 percent to reach $856 million. Non-GAAP core revenue decreased 2 percent, reflecting the disruption in production from the Northern California wildfires.
  • GAAP net income was $94 million, or $0.50 per share, compared with $109 million, or $0.63 per share in the first quarter of 2017. Non-GAAP net income was $97 million, or $0.51 per share using 189 million weighted average shares, compared with $98 million, or $0.57 per share using 173 million weighted average shares in the first quarter of 2017.
  • As of Jan. 31, 2018, cash and cash equivalents totaled $980 million.

Reporting Segments

  • Communications Solutions Group (CSG)

CSG revenue was $420 million in the first quarter, compared to $434 million in the prior year first quarter. CSG revenue was most impacted by the disruption in production due to the Northern California wildfires; however, order growth for this segment was strong across both of its end-markets, resulting in growing backlog.

  • Electronic Industrial Solutions Group (EISG)

EISG revenue grew 6 percent to $203 million in the first quarter, compared to $192 million in the first quarter of 2017. Growth was led by automotive & energy and semiconductor measurement solutions, offset by a slight decline in general electronics measurement.

  • Ixia Solutions Group (ISG)

ISG revenue was $127 million in the first quarter. ISG saw increased shipments for its high-speed Ethernet 400G test solutions and overall, support renewals reached a new record.

  • Services Solutions Group (SSG)

SSG revenue grew 6 percent to $106 million in the first quarter, compared to $100 million in the first quarter of 2017. Revenue growth for SSG was driven by an increase in sales for remarketed solutions and calibration and overall regional strength in the Americas and Asia Pacific.


Keysight provides guidance based on current market conditions and expectations and is raising its guidance for the first half of 2018.

Keysight’s first half of 2018 GAAP revenue is expected to be in the range of $1,777 million to $1,807 million and non-GAAP revenue for the first half of 2018 is expected to be in the range of $1,805 million to $1,835 million. The midpoint of this first half 2018 guidance implies second quarter 2018 GAAP revenue of $955 million and non-GAAP revenue of $964 million.

Non-GAAP earnings per share for the first half of 2018 are expected to be in the range of $1.27 to $1.37 and, at the midpoint, imply second-quarter non-GAAP earnings per share of approximately $0.81. Given the new U.S. tax law under the Tax Cuts and Jobs Act, Keysight estimates that its annual non-GAAP tax rate will decrease by 200 basis points to 15 percent. Non-GAAP earnings per share as projected for the first half and second quarter of fiscal year 2018 and the estimated annual non-GAAP tax rate exclude items that pertain to future events and are not currently estimable with a reasonable degree of accuracy. Therefore, no reconciliation to GAAP amounts has been provided. Further information is discussed in the section titled “Non-GAAP Measures” below.


Keysight’s management will present more details about its first quarter FY2018 financial results and its second quarter FY2018 outlook on a conference call with investors today at 1:30 p.m. PT. This event will be webcast in listen-only mode. Listeners may log on to the call at under the “ Upcoming Events section and select “ Q1 2018 Keysight Technologies Inc. Earnings Conference Call to participate or dial +1 866-393-4306 (U.S. only) or +1 734-385-2616 (International). The webcast will remain on the company site for 90 days.

1 | 2 | 3 | 4  Next Page »

Review Article Be the first to review this article

Featured Video
Transportation Specialist - Department of Transportation - (2100115) for City of San Jose at San José,, California
ArcGIS Maps for SharePoint Product Engineer for ESRI at Redlands, California
GIS Manager for Union County NC at Monroe, California
GIS Analyst I for Brevard County Board of County Commissioners at Viera, Florida
Full Stack ArcGIS Software Developer for Patrick Engineering at Remote - preference for individual residing in Southeastern US (per below), Any State in the USA
GIS Analyst for Union County NC at Monroe, California
Upcoming Events
INSPIRE Candidate Good Practice Webinar at Campus Ring 1 Bremen Bremen Germany - Feb 26, 2021
Milipol Asia-Pacific 2021 at Singapore - Mar 23 - 25, 2021
Geo Connect Asia 2021 at Suntec Singapore - Mar 24 - 25, 2021
University of Denver GIS Masters Degree Online

© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise