Agilent’s Outlook Includes 0% Growth for BAM in FY09
The company’s outlook is based on the assumption of a worldwide recession in 2009, in which US GDP declines 2%, European GDP drops 1%, Japan’s GDP declines 1% and growth in emerging nations, such as India, China, Brazil and Russia, is around 5%–6%. Agilent also outlined the actions it would take to adjust to such a recession.
New York, NY 12/9/08—At its annual investors meeting, Agilent Technologies announced its outlook for fiscal 2009, which began November 1. In providing its expectations for the year, the company has modeled revenue from its Bio-Analytical Measurement (BAM) business to be flat at $2.2 billion, down from 17% growth in fiscal 2008. Regarding BAM, CEO and President Bill Sullivan stated, “we just believe it is very prudent to model 0% growth.” The company noted that November orders for BAM were good and that more about the business’s prospects will be known in January. The company has lowered its revenue guidance for the fiscal first quarter to $1.25–$1.30 billion from $1.34–$1.39 billion due to the decline of the electronics-manufacturing market and holidays.
