Agilent Says Loss Was Larger Than Expected
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Agilent Technologies Inc., a maker of test and measurement equipment, reported a larger-than-expected fiscal third-quarter loss because of weak demand and disruptions caused by a new companywide management system.
For the three months ended July 31, the Palo Alto company lost $228 million, or 49 cents a share, compared with a loss of $225 million, or 49 cents, in the same period last year. Excluding one-time items, the company lost $143 million, or 31 cents a share, compared with a loss of $101 million, or 22 cents, in the same period last year. Third-quarter sales totaled $1.4 billion, a 24% decrease over the $1.8 billion reported last year.
Analysts expected a per-share loss of 15 cents.
Shares rose $1.48 to $17.44 during regular trading on the NYSE. They fell $2.03 to $15.41 after hours.
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