Keysight Technologies reported revenue up 8% from a year ago to $762 million, in its first independent financial reporting after being separated from Agilent Technologies at the beginning of November.
Full-year revenue of $2.93 billion, up 2% year-over-year, was above the midpoint of the company’s guidance, according to Ron Nersesian, president and CEO.
“Consistent with what we have said over the past year, our strategic intent is to drive growth through wireless, modular and software solutions. We will continue to focus on these areas going forward, as well as on meeting our commitments as we did this quarter,” Nersesian said in a statement.
Investors responded favorably to the results, and the stock was up more than 1% in trading late in the day on Monday.
Keysight began operating independently back in August in preparation for its spin-off as a pure-play electronic test company. Since the official completion of the separation in the first week of November, the company has announced several new test products, including the ability to extend the frequency range of existing signal analyzers; and its success in winning a new five-year, $25 million contract with a U.S. aerospace/defense contractor. In particular, Keysight cited the second as evidence of its ability to provide extended test-related services to its customers, not just equipment.
The company expects its revenues for the first quarter of 2015 to range from $675 million to $715 million. The company recently spoke with RCR Wireless on its Electronic Control Units (ECUs) for the automotive industry, and its smaller, modular approach to new offerings.
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