OREANDA-NEWS. Agilent Technologies Inc. (NYSE: A) today reported revenue of $1.02 billion, up 6 percent year over year (up 8 percent on a core basis) for the second fiscal quarter ended April 30, 2016.

Second-quarter GAAP income from continuing operations was $91 million, or $0.28 per share. Last year's second-quarter GAAP income from continuing operations was $92 million, or $0.27 per share.

During the second quarter, Agilent had intangible amortization of $40 million, transformation costs of $10 million, acquisition and integration costs of $12 million, and $2 million of other costs. Excluding those items, and a tax benefit of $10 million, Agilent reported second-quarter adjusted income from continuing operations of $145 million, $0.44 per share(1).

Agilent's adjusted operating margin was 19.4 percent for the second quarter, up 110 basis points over a year ago.

"Agilent delivered another strong quarter," said Mike McMullen, Agilent president and CEO. "Revenue and earnings per share exceeded our guidance range. We saw broad growth across most of our portfolio and end markets."

"We continue to execute on our strategy to drive sustainable growth, expand operating margins and provide long-term value to our shareholders," he added.

Second-quarter revenue of $495 million from Agilent's Life Sciences and Applied Markets Group (LSAG) increased 5 percent year over year (up 8 percent on a core basis), led by strong growth in pharma, food and environmental markets. LSAG's Q2 operating margin was 19.0 percent.

Second-quarter revenue of $346 million from the Agilent CrossLab Group (ACG) grew 8 percent year over year (up 10 percent on a core basis). Both services and consumables continued to see solid growth worldwide. ACG's operating margin was 21.5 percent for the quarter.

Second-quarter revenue of $178 million from Agilent's Diagnostics and Genomics Group (DGG) increased 5 percent against a tough year-over-year compare (also up 5 percent on a core basis), reflecting strength in its diagnostics and genomics businesses. DGG's operating margin for the quarter was 15.0 percent.

Agilent expects third-quarter 2016 revenue in the range of $1.03 billion to $1.05 billion. Third-quarter non-GAAP earnings are expected to be in the range of $0.45 to $0.47 per share.

For fiscal year 2016, Agilent expects revenue of $4.16 billion to $4.18 billion and non-GAAP earnings of $1.88 to $1.92 per share. The guidance is based on April 29, 2016 exchange rates.

Agilent is also raising its full-year operating cash flow guidance from $650 million to $740 million. There is no change to the capital expenditure guidance of $140 million.