SANTA CLARA, Calif. – Agilent Technologies Inc. today reported revenues of $1.69 billion for the third fiscal quarter ended July 31, 2011, 22 percent above one year ago, or 19 percent excluding the effects of acquisitions and divestitures(3). Third-quarter GAAP net income was $330 million, or $0.92 per share. Last year’s third-quarter GAAP net income was $205 million, or $0.58 per share.

During the third quarter, Agilent had intangible amortization of $29 million, acquisition and integration costs of $11 million, and restructuring and transformational charges of $13 million. The company also recognized a tax benefit of $105 million. Excluding these items and $2 million of other net credits, Agilent reported third-quarter adjusted net income of $276 million, or $0.77 per share (1).

Bill Sullivan, Agilent president and CEO, said, “We had another quarter of very good results. Demand for Agilent products remained strong, with key product platforms experiencing solid growth.”

Electronic Measurement revenues were up 24 percent over a year ago. Orders were up 12 percent. The business saw excellent revenue growth across the communications, industrial, computer and semiconductor markets.

Chemical Analysis revenues were up 17 percent above one year ago. Orders were up 14 percent. Growth was led by demand in the petrochemical and food markets.

Life Sciences revenues grew 21 percent over last year. Orders grew 14 percent. Pharma and biotech revenues led life sciences growth.

Third-quarter ROIC was 25 percent(4). Agilent generated $252 million of cash from operations in the third quarter. Net cash at the end of the third quarter was $1 billion(5).

Sullivan said, “Agilent is in a strong position going forward. We continue to invest heavily in R&D to deliver the best products and solutions for our customers, and we are well positioned to capitalize on market opportunities, despite uncertainties in the economy.”

Fiscal fourth-quarter 2011 revenues are expected to be in the range of $1.74 billion to $1.76 billion. Fiscal fourth-quarter non-GAAP earnings are expected to be in the range of $0.79 to $0.81 per share (2).

For the full fiscal year 2011, Agilent is raising its revenue guidance to $6.64 billion – $6.66 billion and its non-GAAP earnings guidance to $2.90 – $2.92 per share (2).