Agilent Technologies beats expectations in Q3 2016

Agilent Technologies has announced strong financial results for the third quarter of its 2016 business year, which ended on July 31st.

The firm's reported revenue total for the quarter came to $1.04 billion (788.43 million pounds), representing a three percent year-on-year increase, while its earnings per share came to $0.38, exceeding the internal guidance range.

Despite currency headwinds, the firm was able to generate growth within its CrossLab and diagnostics and genomics divisions, which helped to offset the expected decline of its life sciences and applied markets group.

The company now expects fourth-quarter 2016 revenue in the range of $1.05 billion and $1.07 billion.

Mike McMullen, Agilent's president and chief executive officer, said: "We continue to deliver on our strategy to drive sustainable growth, expand operating margins and provide long-term value to our shareholders."

The company recently announced plans to construct a new pharmaceutical manufacturing facility in Weld County, Colorado, more than doubling its commercial manufacturing capacity for nucleic acid active pharmaceutical ingredients.

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