Exhibit 99.1
Quarterly Segment Financial Summary Information — Fiscal Years
Ended October 31, 2007, 2008 and 2009
AGILENT TECHNOLOGIES, INC.
CHEMICAL ANALYSIS INFORMATION
(Unaudited)
| | FY 2009 | |
(In millions) | | Q1 | | Q2 | | Q3 | | Q4 | | Total | |
Orders | | $ | 216 | | $ | 194 | | $ | 205 | | $ | 238 | | $ | 853 | |
| | | | | | | | | | | |
Net revenue | | $ | 216 | | $ | 200 | | $ | 203 | | $ | 225 | | $ | 844 | |
| | | | | | | | | | | |
Gross margin | | 55.1 | % | 53.3 | % | 53.8 | % | 55.1 | % | 54.4 | % |
| | | | | | | | | | | |
Income from operations | | $ | 57 | | $ | 45 | | $ | 52 | | $ | 62 | | $ | 216 | |
| | | | | | | | | | | |
| | FY 2008 | |
| | Q1 | | Q2 | | Q3 | | Q4 | | Total | |
Orders | | $ | 230 | | $ | 240 | | $ | 242 | | $ | 250 | | $ | 962 | |
| | | | | | | | | | | |
Net revenue | | $ | 225 | | $ | 228 | | $ | 232 | | $ | 252 | | $ | 937 | |
| | | | | | | | | | | |
Gross margin | | 54.2 | % | 53.8 | % | 54.7 | % | 56.0 | % | 54.7 | % |
| | | | | | | | | | | |
Income from operations | | $ | 54 | | $ | 55 | | $ | 63 | | $ | 72 | | $ | 244 | |
| | | | | | | | | | | |
| | FY 2007 | |
| | Q1 | | Q2 | | Q3 | | Q4 | | Total | |
Orders | | $ | 194 | | $ | 205 | | $ | 210 | | $ | 233 | | $ | 842 | |
| | | | | | | | | | | |
Net revenue | | $ | 205 | | $ | 183 | | $ | 211 | | $ | 231 | | $ | 830 | |
| | | | | | | | | | | |
Gross margin | | 53.3 | % | 51.3 | % | 55.2 | % | 55.1 | % | 53.9 | % |
| | | | | | | | | | | |
Income from operations | | $ | 45 | | $ | 28 | | $ | 52 | | $ | 59 | | $ | 184 | |
Income from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily in conformity with accounting principles generally accepted in the United States (GAAP). Income from operations of our reporting segments excludes primarily restructuring and asset impairment charges, business separation costs, amortization of intangibles, pension curtailment and some residual corporate charges.
In general, recorded orders represent firm purchase commitments from our customers with established terms and conditions for products and services that will be delivered within six months.
Historical amounts have been reclassified to conform with current period presentation.
AGILENT TECHNOLOGIES, INC.
LIFE SCIENCES INFORMATION
(Unaudited)
| | FY 2009 | |
(In millions) | | Q1 | | Q2 | | Q3 | | Q4 | | Total | |
Orders | | $ | 307 | | $ | 287 | | $ | 288 | | $ | 352 | | $ | 1,234 | |
| | | | | | | | | | | |
Net revenue | | $ | 309 | | $ | 298 | | $ | 293 | | $ | 319 | | $ | 1,219 | |
| | | | | | | | | | | |
Gross margin | | 54.5 | % | 54.7 | % | 53.2 | % | 54.4 | % | 54.2 | % |
| | | | | | | | | | | |
Income from operations | | $ | 44 | | $ | 44 | | $ | 39 | | $ | 47 | | $ | 174 | |
| | | | | | | | | | | |
| | FY 2008 | |
| | Q1 | | Q2 | | Q3 | | Q4 | | Total | |
Orders | | $ | 302 | | $ | 334 | | $ | 331 | | $ | 346 | | $ | 1,313 | |
| | | | | | | | | | | |
Net revenue | | $ | 306 | | $ | 302 | | $ | 308 | | $ | 342 | | $ | 1,258 | |
| | | | | | | | | | | |
Gross margin | | 51.6 | % | 51.7 | % | 53.5 | % | 55.3 | % | 53.1 | % |
| | | | | | | | | | | |
Income from operations | | $ | 33 | | $ | 30 | | $ | 39 | | $ | 64 | | $ | 166 | |
| | | | | | | | | | | |
| | FY 2007 | |
| | Q1 | | Q2 | | Q3 | | Q4 | | Total | |
Orders | | $ | 239 | | $ | 252 | | $ | 261 | | $ | 300 | | $ | 1,052 | |
| | | | | | | | | | | |
Net revenue | | $ | 250 | | $ | 245 | | $ | 258 | | $ | 293 | | $ | 1,046 | |
| | | | | | | | | | | |
Gross margin | | 52.2 | % | 52.9 | % | 52.6 | % | 54.5 | % | 53.1 | % |
| | | | | | | | | | | |
Income from operations | | $ | 30 | | $ | 26 | | $ | 25 | | $ | 42 | | $ | 123 | |
Income from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily in conformity with accounting principles generally accepted in the United States (GAAP). Income from operations of our reporting segments excludes primarily restructuring and asset impairment charges, business separation costs, amortization of intangibles, pension curtailment and some residual corporate charges.
In general, recorded orders represent firm purchase commitments from our customers with established terms and conditions for products and services that will be delivered within six months.
Historical amounts have been reclassified to conform with current period presentation.
AGILENT TECHNOLOGIES, INC.
ELECTRONIC MEASUREMENT INFORMATION
(Unaudited)
| | FY 2009 | |
(In millions) | | Q1 | | Q2 | | Q3 | | Q4 | | Total | |
Orders | | $ | 592 | | $ | 545 | | $ | 578 | | $ | 684 | | $ | 2,399 | |
| | | | | | | | | | | |
Net revenue | | $ | 641 | | $ | 593 | | $ | 561 | | $ | 623 | | $ | 2,418 | |
| | | | | | | | | | | |
Gross margin | | 53.9 | % | 50.4 | % | 53.1 | % | 56.5 | % | 53.5 | % |
| | | | | | | | | | | |
Income (loss) from operations | | $ | (6 | ) | $ | (22 | ) | $ | (11 | ) | $ | 40 | | $ | 1 | |
| | | | | | | | | | | |
| | FY 2008 | |
| | Q1 | | Q2 | | Q3 | | Q4 | | Total | |
Orders | | $ | 869 | | $ | 950 | | $ | 814 | | $ | 842 | | $ | 3,475 | |
| | | | | | | | | | | |
Net revenue | | $ | 862 | | $ | 926 | | $ | 904 | | $ | 887 | | $ | 3,579 | |
| | | | | | | | | | | |
Gross margin | | 57.2 | % | 58.1 | % | 57.6 | % | 57.6 | % | 57.6 | % |
| | | | | | | | | | | |
Income from operations | | $ | 80 | | $ | 127 | | $ | 134 | | $ | 136 | | $ | 477 | |
| | | | | | | | | | | |
| | FY 2007 | |
| | Q1 | | Q2 | | Q3 | | Q4 | | Total | |
Orders | | $ | 817 | | $ | 943 | | $ | 837 | | $ | 950 | | $ | 3,547 | |
| | | | | | | | | | | |
Net revenue | | $ | 825 | | $ | 892 | | $ | 905 | | $ | 922 | | $ | 3,544 | |
| | | | | | | | | | | |
Gross margin | | 56.0 | % | 57.8 | % | 57.3 | % | 56.3 | % | 56.9 | % |
| | | | | | | | | | | |
Income from operations | | $ | 72 | | $ | 103 | | $ | 121 | | $ | 115 | | $ | 411 | |
Income (loss) from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily in conformity with accounting principles generally accepted in the United States (GAAP). Income from operations of our reporting segments excludes primarily restructuring and asset impairment charges, business separation costs, amortization of intangibles, pension curtailment and some residual corporate charges.
In general, recorded orders represent firm purchase commitments from our customers with established terms and conditions for products and services that will be delivered within six months.
Historical amounts have been reclassified to conform with current period presentation.
AGILENT TECHNOLOGIES, INC.
CHEMICAL ANALYSIS RETURN ON INVESTED CAPITAL
(Unaudited)
| | FY 2009 | | FY 2008 | | FY 2007 | |
(in millions) | | Q1 | | Q2 | | Q3 | | Q4 | | Q1 | | Q2 | | Q3 | | Q4 | | Q1 | | Q2 | | Q3 | | Q4 | |
Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Adjusted income from operations | | $ | 57 | | $ | 45 | | $ | 52 | | $ | 62 | | $ | 54 | | $ | 55 | | $ | 63 | | $ | 72 | | $ | 45 | | $ | 28 | | $ | 52 | | $ | 59 | |
Less: | | | | | | | | | | | | | | | | | | | | | | | | | |
Taxes and other (income)/expense | | 15 | | 8 | | 12 | | 13 | | 15 | | 17 | | 17 | | 17 | | 14 | | 8 | | 16 | | 19 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Segment return | | 42 | | 37 | | 41 | | 49 | | 39 | | 39 | | 46 | | 56 | | 31 | | 21 | | 36 | | 41 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Segment return annualized | | $ | 168 | | $ | 148 | | $ | 162 | | $ | 196 | | $ | 156 | | $ | 154 | | $ | 184 | | $ | 222 | | $ | 124 | | $ | 82 | | $ | 144 | | $ | 162 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Denominator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Segment assets (a) | | $ | 490 | | $ | 467 | | $ | 452 | | $ | 463 | | $ | 447 | | $ | 458 | | $ | 485 | | $ | 493 | | $ | 436 | | $ | 445 | | $ | 452 | | $ | 453 | |
Less: | | | | | | | | | | | | | | | | | | | | | | | | | |
Net current liabilities (b) | | 110 | | 114 | | 116 | | 137 | | 100 | | 126 | | 114 | | 124 | | 111 | | 118 | | 119 | | 113 | |
Invested capital | | $ | 380 | | $ | 353 | | $ | 336 | | $ | 326 | | $ | 347 | | $ | 332 | | $ | 371 | | $ | 369 | | $ | 325 | | $ | 327 | | $ | 333 | | $ | 340 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Average invested capital | | $ | 375 | | $ | 367 | | $ | 345 | | $ | 332 | | $ | 344 | | $ | 339 | | $ | 351 | | $ | 370 | | $ | 313 | | $ | 326 | | $ | 330 | | $ | 337 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
ROIC | | 45 | % | 40 | % | 47 | % | 59 | % | 45 | % | 45 | % | 52 | % | 60 | % | 40 | % | 25 | % | 44 | % | 48 | % |
ROIC calculation:(annualized current quarter segment return)/(average of the two most recent quarter-end balances of Segment Invested Capital)
(a) Segment assets consist of inventory, accounts receivable, property plant and equipment, gross goodwill and other intangibles, deferred taxes and allocated corporate assets.
(b) Includes accounts payable, employee compensation and benefits, other accrued liabilities and allocated corporate liabilities.
Historical amounts were reclassified to conform with current period presentation.
Return on invested capital (ROIC) is a non-GAAP measure that management believes provides useful supplemental information for management and the investor. ROIC is a tool by which we track how much value we are creating for our shareholders. Management uses ROIC as a performance measure for our businesses, and our senior managers’ compensation is linked to ROIC improvements as well as other performance criteria. We believe that ROIC provides our management with a means to analyze and improve their business, measuring segment profitability in relation to net asset investments. We acknowledge that ROIC may not be calculated the same way by every company.
Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. They should be read in conjunction with the GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.
AGILENT TECHNOLOGIES, INC.
LIFE SCIENCES RETURN ON INVESTED CAPITAL
(Unaudited)
| | FY 2009 | | FY 2008 | | FY 2007 | |
(in millions) | | Q1 | | Q2 | | Q3 | | Q4 | | Q1 | | Q2 | | Q3 | | Q4 | | Q1 | | Q2 | | Q3 | | Q4 | |
Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Adjusted income from operations | | $ | 44 | | $ | 44 | | $ | 39 | | $ | 47 | | $ | 33 | | $ | 30 | | $ | 39 | | $ | 64 | | $ | 30 | | $ | 26 | | $ | 25 | | $ | 42 | |
Less: | | | | | | | | | | | | | | | | | | | | | | | | | |
Taxes and other (income)/expense | | 10 | | 6 | | 7 | | 8 | | 8 | | 7 | | 8 | | 13 | | 7 | | 6 | | 6 | | 10 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Segment return | | 34 | | 38 | | 32 | | 39 | | 25 | | 23 | | 31 | | 51 | | 24 | | 21 | | 19 | | 33 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Segment return annualized | | $ | 136 | | $ | 152 | | $ | 128 | | $ | 156 | | $ | 100 | | $ | 92 | | $ | 124 | | $ | 204 | | $ | 94 | | $ | 82 | | $ | 76 | | $ | 130 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Denominator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Segment assets (a) | | $ | 1,074 | | $ | 1,052 | | $ | 997 | | $ | 1,019 | | $ | 945 | | $ | 970 | | $ | 1,002 | | $ | 1,012 | | $ | 538 | | $ | 562 | | $ | 819 | | $ | 810 | |
Less: | | | | | | | | | | | | | | | | | | | | | | | | | |
Net current liabilities (b) | | 175 | | 179 | | 179 | | 206 | | 167 | | 201 | | 187 | | 198 | | 139 | | 151 | | 174 | | 174 | |
Invested capital | | $ | 899 | | $ | 873 | | $ | 818 | | $ | 813 | | $ | 778 | | $ | 769 | | $ | 815 | | $ | 814 | | $ | 399 | | $ | 411 | | $ | 645 | | $ | 636 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Average invested capital | | $ | 857 | | $ | 886 | | $ | 846 | | $ | 815 | | $ | 707 | | $ | 773 | | $ | 792 | | $ | 815 | | $ | 385 | | $ | 405 | | $ | 528 | | $ | 640 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
ROIC | | 16 | % | 17 | % | 15 | % | 19 | % | 14 | % | 12 | % | 16 | % | 25 | % | 24 | % | 20 | % | 14 | % | 20 | % |
ROIC calculation:(annualized current quarter segment return)/(average of the two most recent quarter-end balances of Segment Invested Capital)
(a) Segment assets consist of inventory, accounts receivable, property plant and equipment, gross goodwill and other intangibles, deferred taxes and allocated corporate assets.
(b) Includes accounts payable, employee compensation and benefits, other accrued liabilities and allocated corporate liabilities.
Historical amounts were reclassified to conform with current period presentation.
Return on invested capital (ROIC) is a non-GAAP measure that management believes provides useful supplemental information for management and the investor. ROIC is a tool by which we track how much value we are creating for our shareholders. Management uses ROIC as a performance measure for our businesses, and our senior managers’ compensation is linked to ROIC improvements as well as other performance criteria. We believe that ROIC provides our management with a means to analyze and improve their business, measuring segment profitability in relation to net asset investments. We acknowledge that ROIC may not be calculated the same way by every company.
Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. They should be read in conjunction with the GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.
AGILENT TECHNOLOGIES, INC.
ELECTRONIC MEASUREMENT RETURN ON INVESTED CAPITAL
(Unaudited)
| | FY 2009 | | FY 2008 | | FY 2007 | |
(in millions) | | Q1 | | Q2 | | Q3 | | Q4 | | Q1 | | Q2 | | Q3 | | Q4 | | Q1 | | Q2 | | Q3 | | Q4 | |
Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Adjusted income (loss) from operations | | $ | (6 | ) | $ | (22 | ) | $ | (11 | ) | $ | 40 | | $ | 80 | | $ | 127 | | $ | 134 | | $ | 136 | | $ | 72 | | $ | 103 | | $ | 121 | | $ | 115 | |
Less: | | | | | | | | | | | | | | | | | | | | | | | | | |
Taxes and other (income)/expense | | (6 | ) | (6 | ) | (3 | ) | 3 | | 13 | | 21 | | 20 | | 10 | | 14 | | 18 | | 25 | | 25 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Segment return | | — | | (16 | ) | (8 | ) | 37 | | 67 | | 106 | | 114 | | 126 | | 58 | | 85 | | 96 | | 90 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Segment return annualized | | $ | — | | $ | (64 | ) | $ | (32 | ) | $ | 148 | | $ | 268 | | $ | 424 | | $ | 456 | | $ | 504 | | $ | 232 | | $ | 340 | | $ | 384 | | $ | 360 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Denominator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Segment assets (a) | | $ | 2,286 | | $ | 2,217 | | $ | 2,088 | | $ | 2,084 | | $ | 2,353 | | $ | 2,490 | | $ | 2,462 | | $ | 2,401 | | $ | 2,344 | | $ | 2,417 | | $ | 2,326 | | $ | 2,319 | |
Less: | | | | | | | | | | | | | | | | | | | | | | | | | |
Net current liabilities (b) | | 546 | | 563 | | 517 | | 578 | | 665 | | 740 | | 656 | | 673 | | 644 | | 742 | | 675 | | 717 | |
Invested capital | | $ | 1,740 | | $ | 1,654 | | $ | 1,571 | | $ | 1,506 | | $ | 1,688 | | $ | 1,750 | | $ | 1,806 | | $ | 1,728 | | $ | 1,700 | | $ | 1,675 | | $ | 1,651 | | $ | 1,602 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Average invested capital | | $ | 1,734 | | $ | 1,697 | | $ | 1,612 | | $ | 1,538 | | $ | 1,645 | | $ | 1,719 | | $ | 1,778 | | $ | 1,767 | | $ | 1,641 | | $ | 1,688 | | $ | 1,663 | | $ | 1,627 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
ROIC | | 0 | % | -4 | % | -2 | % | 10 | % | 16 | % | 25 | % | 26 | % | 29 | % | 14 | % | 20 | % | 23 | % | 22 | % |
ROIC calculation:(annualized current quarter segment return)/(average of the two most recent quarter-end balances of Segment Invested Capital)
(a) Segment assets consist of inventory, accounts receivable, property plant and equipment, gross goodwill and other intangibles, deferred taxes and allocated corporate assets.
(b) Includes accounts payable, employee compensation and benefits, other accrued liabilities and allocated corporate liabilities.
Historical amounts were reclassified to conform with current period presentation.
Return on invested capital (ROIC) is a non-GAAP measure that management believes provides useful supplemental information for management and the investor. ROIC is a tool by which we track how much value we are creating for our shareholders. Management uses ROIC as a performance measure for our businesses, and our senior managers’ compensation is linked to ROIC improvements as well as other performance criteria. We believe that ROIC provides our management with a means to analyze and improve their business, measuring segment profitability in relation to net asset investments. We acknowledge that ROIC may not be calculated the same way by every company.
Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. They should be read in conjunction with the GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.