Agilent (A) 8-K Quarterly Segment Financial Summary Information — Fiscal Years

Exhibit 99.1

Quarterly Segment Financial Summary Information — Fiscal Years

 Ended October 31, 2009, 2010, 2011, and 2012.

AGILENT TECHNOLOGIES, INC.

LIFE SCIENCES SEGMENT

(Unaudited)

	FY 2012
(In millions, except margins and ROIC data)	Q1			Q2			Q3	Q4	Total
Orders	$	394		$	410				$	804
Net revenue	$	395		$	395				$	790
Gross margin	50.9		%	48.9		%			49.9		%
Income from operations	$	58		$	44				$	102
Operating margin %	14.6		%	11.2		%			12.9		%
Segment Assets	$	1,439		$	1,449
Return On Invested Capital (a) , %	17		%	14		%

	FY 2011
	Q1			Q2			Q3			Q4			Total
Orders	$	376		$	406		$	382		$	433		$	1,597
Net revenue	$	338		$	392		$	383		$	402		$	1,515
Gross margin	52.1		%	50.4		%	49.8		%	49.5		%	50.4		%
Income from operations	$	42		$	52		$	51		$	57		$	202
Operating margin %	12.3		%	13.4		%	13.3		%	14.2		%	13.3		%
Segment Assets	$	1,377		$	1,497		$	1,500		$	1,479
Return On Invested Capital (a) , %	14		%	16		%	15		%	16		%

	FY 2010
	Q1			Q2			Q3			Q4			Total
Orders	$	275		$	269		$	333		$	402		$	1,279
Net revenue	$	278		$	267		$	314		$	367		$	1,226
Gross margin	54.0		%	53.5		%	52.8		%	50.1		%	52.4		%
Income from operations	$	52		$	41		$	52		$	58		$	203
Operating margin %	18.7		%	15.2		%	16.7		%	16.0		%	16.6		%
Segment Assets	$	715		$	705		$	1,106		$	1,168
Return On Invested Capital (a) , %	35		%	27		%	19		%	22		%

	FY 2009
	Q1			Q2			Q3			Q4			Total
Orders	$	255		$	231		$	237		$	291		$	1,014
Net revenue	$	255		$	237		$	235		$	261		$	988
Gross margin	54.3		%	53.4		%	51.9		%	53.5		%	53.3		%
Income from operations	$	43		$	36		$	35		$	46		$	160
Operating margin %	17.0		%	15.3		%	14.7		%	17.5		%	16.2		%
Segment Assets	$	666		$	640		$	602		$	623
Return On Invested Capital (a) , %	26		%	25		%	24		%	34		%

Income from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily in conformity with GAAP financial measures. Income from operations of our reporting segments exclude, among other things, charges related to the amortization of intangibles, the impact of restructuring charges, acquisition and integration costs.

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.

(a) Return On Invested Capital (ROIC) is a non-GAAP measure and is defined as income from operations less other (income) expense and taxes, annualized, divided by the average of the two most recent quarter-end balances of assets less net current liabilities. The reconciliation of ROIC can be found on page 3 of these tables, along with additional information regarding the use of this non-GAAP measure.

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.

Historical amounts have been reclassified to conform with current period presentation.

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AGILENT TECHNOLOGIES, INC.

DIAGNOSTICS AND GENOMICS GROUP

(Unaudited)

	FY 2012
(In millions, except margins and ROIC data)	Q1			Q2			Q3	Q4	Total
Orders	$	69		$	66				$	135
Net revenue	$	66		$	74				$	140
Gross margin	62.6		%	65.3		%			64.0		%
Income from operations	$	8		$	15				$	23
Operating margin %	11.9		%	20.1		%			16.2		%
Segment Assets	$	381		$	377
Return On Invested Capital (a) , %	9		%	15		%

	FY 2011
	Q1			Q2			Q3			Q4			Total
Orders	$	66		$	73		$	63		$	76		$	278
Net revenue	$	66		$	72		$	70		$	69		$	277
Gross margin	59.7		%	61.8		%	59.2		%	63.2		%	61.0		%
Income from operations	$	6		$	9		$	9		$	11		$	35
Operating margin %	9.5		%	12.2		%	12.6		%	15.5		%	12.5		%
Segment Assets	$	330		$	355		$	355		$	358
Return On Invested Capital (a) , %	7		%	10		%	10		%	11		%

	FY 2010
	Q1			Q2			Q3			Q4			Total
Orders	$	61		$	62		$	58		$	66		$	247
Net revenue	$	62		$	67		$	60		$	64		$	253
Gross margin	56.6		%	60.8		%	59.4		%	58.0		%	58.7		%
Income from operations	$	3		$	7		$	4		$	4		$	18
Operating margin %	5.3		%	10.6		%	6.4		%	5.9		%	7.1		%
Segment Assets	$	447		$	402		$	387		$	396
Return On Invested Capital (a) , %	3		%	6		%	3		%	3		%

	FY 2009
	Q1			Q2			Q3			Q4			Total
Orders	$	52		$	56		$	51		$	61		$	220
Net revenue	$	54		$	61		$	58		$	58		$	231
Gross margin	55.8		%	59.7		%	58.3		%	58.4		%	58.1		%
Income from operations	$	1		$	8		$	4		$	1		$	14
Operating margin %	1.7		%	12.5		%	7.8		%	2.1		%	6.2		%
Segment Assets	407			412			395			397
Return On Invested Capital (a) , %	1		%	8		%	4		%	2		%

Income from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily in conformity with GAAP financial measures. Income from operations of our reporting segments exclude, among other things, charges related to the amortization of intangibles, the impact of restructuring charges, acquisition and integration costs.

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.

(a) Return On Invested Capital (ROIC) is a non-GAAP measure and is defined as income from operations less other (income) expense and taxes, annualized, divided by the average of the two most recent quarter-end balances of assets less net current liabilities. The reconciliation of ROIC can be found on page 4 of these tables, along with additional information regarding the use of this non-GAAP measure.

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.

Historical amounts have been reclassified to conform with current period presentation.

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AGILENT TECHNOLOGIES, INC.

LIFE SCIENCES RETURN ON INVESTED CAPITAL

(Unaudited)

FY 2012

FY 2011

FY 2010

FY 2009

(in millions)

Q1

Q2

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Numerator:

Adjusted income from operations	$	58		$	44		$	42		$	52		$	51		$	57		$	52		$	41		$	52		$	58		$	43		$	36		$	35		$	46
Less:
Taxes and other (income)/expense	10			5			7			7			8			9			9			7			10			9			10			4			7			8
Segment return	48			39			35			45			43			48			43			34			42			49			33			32			28			38
Segment return annualized	$	192		$	156		$	140		$	180		$	172		$	192		$	172		$	136		$	168		$	195		$	132		$	128		$	112		$	152
Denominator:
Segment assets (a)	$	1,439		$	1,449		$	1,377		$	1,497		$	1,500		$	1,479		$	715		$	705		$	1,106		$	1,168		$	666		$	640		$	602		$	623
Less:
Net current liabilities (b)	284			314			272			331			306			320			190			208			254			285			148			152			154			177
Invested capital	$	1,155		$	1,135		$	1,105		$	1,166		$	1,194		$	1,159		$	525		$	497		$	852		$	883		$	518		$	488		$	448		$	446
Average invested capital	$	1,157		$	1,145		$	994		$	1,136		$	1,180		$	1,176		$	485		$	511		$	886		$	868		$	503		$	503		$	468		$	447
ROIC	17		%	14		%	14		%	16		%	15		%	16		%	35		%	27		%	19		%	22		%	26		%	25		%	24		%	34		%

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,deferred revenue, certain 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.

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AGILENT TECHNOLOGIES, INC.

DIAGNOSTICS AND GENOMICS RETURN ON INVESTED CAPITAL

(Unaudited)

FY 2012

FY 2011

FY 2010

FY 2009

(in millions)

Q1

Q2

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Numerator:

Adjusted income from operations	$	8		$	15		$	6		$	9		$	9		$	11		$	3		$	7		$	4		$	4		$	1		$	8		$	4		$	1
Less:
Taxes and other (income)/expense	1			2			—			2			1			2			—			1			1			1			—			1			—			—
Segment return	7			13			6			7			8			9			3			6			3			3			1			7			4			1
Segment return annualized	$	28		$	52		$	24		$	29		$	32		$	36		$	12		$	24		$	12		$	12		$	4		$	29		$	16		$	6
Denominator:
Segment assets (a)	$	381		$	377		$	330		$	355		$	355		$	358		$	447		$	402		$	387		$	396		$	407		$	412		$	395		$	397
Less:
Net current liabilities (b)	40			44			40			44			41			44			31			37			36			43			25			27			25			30
Invested capital	$	341		$	333		$	290		$	311		$	314		$	314		$	416		$	365		$	351		$	353		$	382		$	385		$	370		$	367
Average invested capital	$	327		$	337		$	322		$	300		$	312		$	314		$	391		$	390		$	358		$	352		$	354		$	383		$	377		$	368
ROIC	9		%	15		%	7		%	10		%	10		%	11		%	3		%	6		%	3		%	3		%	1		%	8		%	4		%	2		%

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, certain 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.

Page 4