Agilent Technologies (NYSE: A) rose 5/8 to 56 3/8 on Friday, a day after reporting a 28 percent increase in third quarter revenues.
Agilent, a diversified technology company that was spun off from computer maker Hewlett-Packard earlier this year, reported Thursday that net earnings for the quarter ended July 31 rose by 15 percent, with 33 cents in earnings per share. Orders during the quarter increased by 44 percent. The quarterly report exceeded lowered analyst expectations that led to a strong stock decline last month.
“Eighty percent of Agilent’s orders and revenue this quarter came from our communications and electronics businesses, where orders grew 62 percent, and revenue increased 44 percent,” said Agilent president and CEO Ned Barnholt.
Agilent designs and manufactures testing, measurement and monitoring instruments, and semiconductor and optical components for the communications, electronics, healthcare and life sciences industries.