EX-99.1 2 a09-35707_1ex99d1.htm EX-99.1

Exhibit 99.1

 

Quarterly Segment Financial Summary Information — Fiscal Years
Ended October 31, 2007, 2008 and 2009

 


 

AGILENT TECHNOLOGIES, INC.

CHEMICAL ANALYSIS INFORMATION

 

(Unaudited)

 

 

 

FY 2009

 

(In millions)

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

Orders

 

$

 216

 

$

 194

 

$

 205

 

$

 238

 

$

 853

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

 216

 

$

 200

 

$

 203

 

$

 225

 

$

 844

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

55.1

%

53.3

%

53.8

%

55.1

%

54.4

%

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

 57

 

$

 45

 

$

 52

 

$

 62

 

$

 216

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2008

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

Orders

 

$

 230

 

$

 240

 

$

 242

 

$

 250

 

$

 962

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

 225

 

$

 228

 

$

 232

 

$

 252

 

$

 937

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

54.2

%

53.8

%

54.7

%

56.0

%

54.7

%

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

 54

 

$

 55

 

$

 63

 

$

 72

 

$

 244

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2007

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

Orders

 

$

 194

 

$

 205

 

$

 210

 

$

 233

 

$

 842

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

 205

 

$

 183

 

$

 211

 

$

 231

 

$

 830

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

53.3

%

51.3

%

55.2

%

55.1

%

53.9

%

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

 45

 

$

 28

 

$

 52

 

$

 59

 

$

 184

 

 

Income from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily  in conformity with accounting principles generally accepted in the United States (GAAP).   Income from operations of our reporting segments excludes primarily restructuring and asset impairment charges, business separation costs, amortization of intangibles, pension curtailment and some residual corporate charges.

 

In general, recorded orders represent firm purchase commitments from our customers with established terms and conditions for products and services that will be delivered within six months.

 

Historical amounts have been reclassified to conform with current period presentation.

 


 

AGILENT TECHNOLOGIES, INC.

LIFE SCIENCES INFORMATION

 

(Unaudited)

 

 

 

FY 2009

 

(In millions)

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

Orders

 

$

 307

 

$

 287

 

$

 288

 

$

 352

 

$

 1,234

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

 309

 

$

 298

 

$

 293

 

$

 319

 

$

 1,219

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

54.5

%

54.7

%

53.2

%

54.4

%

54.2

%

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

 44

 

$

 44

 

$

 39

 

$

 47

 

$

 174

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2008

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

Orders

 

$

 302

 

$

 334

 

$

 331

 

$

 346

 

$

 1,313

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

 306

 

$

 302

 

$

 308

 

$

 342

 

$

 1,258

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

51.6

%

51.7

%

53.5

%

55.3

%

53.1

%

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

 33

 

$

 30

 

$

 39

 

$

 64

 

$

 166

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2007

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

Orders

 

$

 239

 

$

 252

 

$

 261

 

$

 300

 

$

 1,052

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

 250

 

$

 245

 

$

 258

 

$

 293

 

$

 1,046

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

52.2

%

52.9

%

52.6

%

54.5

%

53.1

%

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

 30

 

$

 26

 

$

 25

 

$

 42

 

$

 123

 

 

Income from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily  in conformity with accounting principles generally accepted in the United States (GAAP).   Income from operations of our reporting segments excludes primarily restructuring and asset impairment charges, business separation costs, amortization of intangibles, pension curtailment and some residual corporate charges.

 

In general, recorded orders represent firm purchase commitments from our customers with established terms and conditions for products and services that will be delivered within six months.

 

Historical amounts have been reclassified to conform with current period presentation.

 


 

AGILENT TECHNOLOGIES, INC.

ELECTRONIC MEASUREMENT INFORMATION

 

(Unaudited)

 

 

 

FY 2009

 

(In millions)

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

Orders

 

$

 592

 

$

 545

 

$

 578

 

$

 684

 

$

 2,399

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

 641

 

$

 593

 

$

 561

 

$

 623

 

$

 2,418

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

53.9

%

50.4

%

53.1

%

56.5

%

53.5

%

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from operations

 

$

 (6

)

$

 (22

)

$

 (11

)

$

 40

 

$

 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2008

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

Orders

 

$

 869

 

$

 950

 

$

 814

 

$

 842

 

$

 3,475

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

 862

 

$

 926

 

$

 904

 

$

 887

 

$

 3,579

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

57.2

%

58.1

%

57.6

%

57.6

%

57.6

%

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

 80

 

$

 127

 

$

 134

 

$

 136

 

$

 477

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FY 2007

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

Orders

 

$

 817

 

$

 943

 

$

 837

 

$

 950

 

$

 3,547

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

 825

 

$

 892

 

$

 905

 

$

 922

 

$

 3,544

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

56.0

%

57.8

%

57.3

%

56.3

%

56.9

%

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

 72

 

$

 103

 

$

 121

 

$

 115

 

$

 411

 

 

Income (loss) from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily  in conformity with accounting principles generally accepted in the United States (GAAP).   Income from operations of our reporting segments excludes primarily restructuring and asset impairment charges, business separation costs, amortization of intangibles, pension curtailment and some residual corporate charges.

 

In general, recorded orders represent firm purchase commitments from our customers with established terms and conditions for products and services that will be delivered within six months.

 

Historical amounts have been reclassified to conform with current period presentation.

 


 

AGILENT TECHNOLOGIES, INC.

CHEMICAL ANALYSIS RETURN ON INVESTED CAPITAL

 

(Unaudited)

 

 

 

FY 2009

 

FY 2008

 

FY 2007

 

(in millions)

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted income from operations

 

$

57

 

$

45

 

$

52

 

$

62

 

$

54

 

$

55

 

$

63

 

$

72

 

$

45

 

$

28

 

$

52

 

$

59

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxes and other (income)/expense

 

15

 

8

 

12

 

13

 

15

 

17

 

17

 

17

 

14

 

8

 

16

 

19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment return

 

42

 

37

 

41

 

49

 

39

 

39

 

46

 

56

 

31

 

21

 

36

 

41

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment return annualized

 

$

168

 

$

148

 

$

162

 

$

196

 

$

156

 

$

154

 

$

184

 

$

222

 

$

124

 

$

82

 

$

144

 

$

162

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment assets (a)

 

$

490

 

$

467

 

$

452

 

$

463

 

$

447

 

$

458

 

$

485

 

$

493

 

$

436

 

$

445

 

$

452

 

$

453

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net current liabilities (b)

 

110

 

114

 

116

 

137

 

100

 

126

 

114

 

124

 

111

 

118

 

119

 

113

 

Invested capital

 

$

380

 

$

353

 

$

336

 

$

326

 

$

347

 

$

332

 

$

371

 

$

369

 

$

325

 

$

327

 

$

333

 

$

340

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average invested capital

 

$

375

 

$

367

 

$

345

 

$

332

 

$

344

 

$

339

 

$

351

 

$

370

 

$

313

 

$

326

 

$

330

 

$

337

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ROIC

 

45

%

40

%

47

%

59

%

45

%

45

%

52

%

60

%

40

%

25

%

44

%

48

%

 

ROIC calculation:(annualized current quarter segment return)/(average of the two most recent quarter-end balances of Segment Invested Capital)

 

(a) Segment assets consist of inventory, accounts receivable, property plant and equipment, gross goodwill and other intangibles, deferred taxes and allocated corporate assets.

 

(b) Includes accounts payable, employee compensation and benefits, other accrued liabilities and allocated corporate liabilities.

 

Historical amounts were reclassified to conform with current period presentation.

 

Return on invested capital (ROIC) is a non-GAAP measure that management believes provides useful supplemental information for management and the investor.  ROIC is a tool by which we track how much value we are creating for our shareholders.  Management uses ROIC as a performance measure for our businesses, and our senior managers’ compensation is linked to ROIC improvements as well as other performance criteria.  We believe that ROIC provides our management with a means to analyze and improve their business, measuring segment profitability in relation to net asset investments.  We acknowledge that ROIC may not be calculated the same way by every company.

 

Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures.  They should be read in conjunction with the GAAP financial measures.  It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.

 


 

AGILENT TECHNOLOGIES, INC.

LIFE SCIENCES RETURN ON INVESTED CAPITAL

 

(Unaudited)

 

 

 

FY 2009

 

FY 2008

 

FY 2007

 

(in millions)

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted income from operations

 

$

44

 

$

44

 

$

39

 

$

47

 

$

33

 

$

30

 

$

39

 

$

64

 

$

30

 

$

26

 

$

25

 

$

42

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxes and other (income)/expense

 

10

 

6

 

7

 

8

 

8

 

7

 

8

 

13

 

7

 

6

 

6

 

10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment return

 

34

 

38

 

32

 

39

 

25

 

23

 

31

 

51

 

24

 

21

 

19

 

33

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment return annualized

 

$

136

 

$

152

 

$

128

 

$

156

 

$

100

 

$

92

 

$

124

 

$

204

 

$

94

 

$

82

 

$

76

 

$

130

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment assets (a)

 

$

1,074

 

$

1,052

 

$

997

 

$

1,019

 

$

945

 

$

970

 

$

1,002

 

$

1,012

 

$

538

 

$

562

 

$

819

 

$

810

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net current liabilities (b)

 

175

 

179

 

179

 

206

 

167

 

201

 

187

 

198

 

139

 

151

 

174

 

174

 

Invested capital

 

$

899

 

$

873

 

$

818

 

$

813

 

$

778

 

$

769

 

$

815

 

$

814

 

$

399

 

$

411

 

$

645

 

$

636

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average invested capital

 

$

857

 

$

886

 

$

846

 

$

815

 

$

707

 

$

773

 

$

792

 

$

815

 

$

385

 

$

405

 

$

528

 

$

640

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ROIC

 

16

%

17

%

15

%

19

%

14

%

12

%

16

%

25

%

24

%

20

%

14

%

20

%

 

ROIC calculation:(annualized current quarter segment return)/(average of the two most recent quarter-end balances of Segment Invested Capital)

 

(a) Segment assets consist of inventory, accounts receivable, property plant and equipment, gross goodwill and other intangibles, deferred taxes and allocated corporate assets.

 

(b) Includes accounts payable, employee compensation and benefits, other accrued liabilities and allocated corporate liabilities.

 

Historical amounts were reclassified to conform with current period presentation.

 

Return on invested capital (ROIC) is a non-GAAP measure that management believes provides useful supplemental information for management and the investor.  ROIC is a tool by which we track how much value we are creating for our shareholders.  Management uses ROIC as a performance measure for our businesses, and our senior managers’ compensation is linked to ROIC improvements as well as other performance criteria.  We believe that ROIC provides our management with a means to analyze and improve their business, measuring segment profitability in relation to net asset investments.  We acknowledge that ROIC may not be calculated the same way by every company.

 

Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures.  They should be read in conjunction with the GAAP financial measures.  It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.

 


 

AGILENT TECHNOLOGIES, INC.

ELECTRONIC MEASUREMENT RETURN ON INVESTED CAPITAL

 

(Unaudited)

 

 

 

FY 2009

 

FY 2008

 

FY 2007

 

(in millions)

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted income (loss) from operations

 

$

(6

)

$

(22

)

$

(11

)

$

40

 

$

80

 

$

127

 

$

134

 

$

136

 

$

72

 

$

103

 

$

121

 

$

115

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxes and other (income)/expense

 

(6

)

(6

)

(3

)

3

 

13

 

21

 

20

 

10

 

14

 

18

 

25

 

25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment return

 

—

 

(16

)

(8

)

37

 

67

 

106

 

114

 

126

 

58

 

85

 

96

 

90

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment return annualized

 

$

—

 

$

(64

)

$

(32

)

$

148

 

$

268

 

$

424

 

$

456

 

$

504

 

$

232

 

$

340

 

$

384

 

$

360

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment assets (a)

 

$

2,286

 

$

2,217

 

$

2,088

 

$

2,084

 

$

2,353

 

$

2,490

 

$

2,462

 

$

2,401

 

$

2,344

 

$

2,417

 

$

2,326

 

$

2,319

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net current liabilities (b)

 

546

 

563

 

517

 

578

 

665

 

740

 

656

 

673

 

644

 

742

 

675

 

717

 

Invested capital

 

$

1,740

 

$

1,654

 

$

1,571

 

$

1,506

 

$

1,688

 

$

1,750

 

$

1,806

 

$

1,728

 

$

1,700

 

$

1,675

 

$

1,651

 

$

1,602

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average invested capital

 

$

1,734

 

$

1,697

 

$

1,612

 

$

1,538

 

$

1,645

 

$

1,719

 

$

1,778

 

$

1,767

 

$

1,641

 

$

1,688

 

$

1,663

 

$

1,627

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ROIC

 

0

%

-4

%

-2

%

10

%

16

%

25

%

26

%

29

%

14

%

20

%

23

%

22

%

 

ROIC calculation:(annualized current quarter segment return)/(average of the two most recent quarter-end balances of Segment Invested Capital)

 

(a) Segment assets consist of inventory, accounts receivable, property plant and equipment, gross goodwill and other intangibles, deferred taxes and allocated corporate assets.

 

(b) Includes accounts payable, employee compensation and benefits, other accrued liabilities and allocated corporate liabilities.

 

Historical amounts were reclassified to conform with current period presentation.

 

Return on invested capital (ROIC) is a non-GAAP measure that management believes provides useful supplemental information for management and the investor.  ROIC is a tool by which we track how much value we are creating for our shareholders.  Management uses ROIC as a performance measure for our businesses, and our senior managers’ compensation is linked to ROIC improvements as well as other performance criteria.  We believe that ROIC provides our management with a means to analyze and improve their business, measuring segment profitability in relation to net asset investments.  We acknowledge that ROIC may not be calculated the same way by every company.

 

Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures.  They should be read in conjunction with the GAAP financial measures.  It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.