Keysight Technologies reported quarterly revenue of $832 million, up 16% compared with $715 million last year. GAAP operating margin was -0.4 percent, compared with 15 percent in the third quarter of 2016. GAAP net loss was $18 million, or a loss of $0.10 per share, compared with net income of $91 million, or $0.53 per share in the third quarter of 2016.
“We delivered strong third quarter results. Order growth accelerated to 8 percent on a core basis driven by strength in our key focus areas, and cash generated from operations was $98 million. We are pleased with the momentum we are building in the market with new and existing customers developing leading-edge technologies such as 5G, next-gen Wi-Fi, high-speed datacenters, and automotive and energy,” said Ron Nersesian, Keysight president and CEO.
Some highlights:
- Communications Solutions Group (CSG) revenue was $418 million in the third quarter, compared to $424 million in the prior year third quarter. Growth in commercial communications and 5G was offset by a decline in aerospace, defense and government.
- Electronic Industrial Solutions Group (EISG) revenue was $218 million in the third quarter, up 14 percent when compared to $191 million in the third quarter of 2016. EISG growth was driven by strong demand for general electronics, semiconductor, and automotive and energy solutions.
- Ixia Solutions Group (ISG) revenue was $120 million in the third quarter. ISG revenue was impacted by continued challenging market conditions with its network equipment manufacturers customers in the U.S., while demand for visibility and application and security solutions was strong among service provider customers.
- Services Solutions Group (SSG) revenue in the third quarter grew 4 percent year-over-year to $107 million when compared with $103 million in the third quarter of 2016. Services growth was driven by remarketed solution sales.