Agilent Technologies (NYSE:A) is expected to report Q1 earnings after the market close on Tuesday, February 17, with a conference call scheduled for 4:45 pm ET.
The consensus estimate is 28c for EPS and $1.26B for revenue, according to First Call. In response to deteriorating economic conditions, particularly in electronic measurement market, Agilent lowered its Q1 EPS guidance on December 9 to a range of 28c-32c per share vs. previous guidance of 34c-38c per share. The company also lowered its Q109 revenue guidance to a range of $1.25B-$1.3B, down 7%-10% from a year earlier. Prior guidance was for a revenue range of $1.34B-$1.39B.
On December 17, Agilent announced a restructuring plan of its business units that have been most severely impacted by the economic downturn and the reduction of 500 regular jobs and 300 temporary jobs. The company expects to complete a majority of the activities related to the restructuring by May 31, with the remainder expected to be completed by October 31. The reductions in workforce are expected to result in lowering annual operating expenses of approximately $165M in total.
Key issues analysts expect for the conference call include forward guidance and details on demand slowdown and consolidation in the company's customer base. Another key area of focus will be the company's progress on expense control.