Agilent reports better-than-expected second quarter results for 2016

Agilent Technologies has announced its financial results for the second quarter of 2016, during which it delivered a better-than-expected performance.

During the three months ending on April 30th 2016, the company generated a revenue total of $1.02 billion (696.85 million pounds), representing a six percent year-on-year improvement, or an eight percent rise on a core basis.

Its revenue and earnings per share performance exceeded its guidance range, with broad growth achieved across most of its portfolio and end markets. Strong results were generated from pharma, food and environmental markets, while services and consumables continued to see solid momentum worldwide.

For the 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. It is also raising its full-year operating cash flow guidance from $650 million to $740 million.

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

The company also announced a quarterly dividend of 11.5 cents per share of common stock, to be paid on July 27th to all shareholders of record as of the close of business on July 5th.