Keysight Technologies Revenue Growth Drives Strong Operating Margin, Cash Flow

Keysight Technologies, Inc. (NYSE: KEYS) has reported financial results for the third fiscal quarter of 2020 ended July 31, 2020, the company said.

Orders were USD 1,067 million, compared with USD 1,110 million last year, a decrease of 4%.

GAAP revenue was USD 1,011 million, compared with USD 1,087 million last year. Non-GAAP revenue decreased 7 percent on a core basis, which excludes the impact of foreign currency changes and revenue associated with businesses acquired or divested within the last twelve months.

GAAP net income was USD 176 million, or USD 0.93 per share, compared with GAAP net income of USD 159 million, or USD 0.83 per share, in the third quarter of 2019.

Non-GAAP net income was USD 226 million, or USD 1.19 per share, compared with USD 239 million, or USD 1.25 per share in the third quarter of 2019.

CSG reported third quarter revenue of USD 760 million, down 4 percent, due to a challenging macroeconomic environment. From a demand perspective, investment continued in next-generation technologies such as 5G, with growth in 5G network rollouts and commercial launches, as well as 400G-related data center investment. Demand remained strong in the US for aerospace defense and government solutions.

EISG reported revenue of USD 251 million in the third quarter, down 15 percent, due to a challenging macroeconomic environment. Weakness in general electronics and automotive markets was slightly offset by continued investment in advanced semiconductor process node technologies.

Keysight is a technology company that helps enterprises, service providers and governments accelerate innovation to connect and secure the world. More information is available at www.keysight.com.