Agilent Technologies Lowers First Quarter Expectations

2/7/2003 - Agilent Technologies Inc. (NYSE: A) announced that it expects its results for the first fiscal quarter ending Jan. 31, 2003 to be below the guidance provided in its fourth quarter earnings release.

First quarter revenues are now expected to be in the range of $1.35 billion to $1.45 billion, compared to previous guidance of $1.5 billion to $1.6 billion. Earnings Before Restructuring (EBR) are now anticipated to be a loss in the range of $0.22 to $0.28 per share. Prior guidance was for an operating EBR loss of $0.05 to $0.15 per share.

Agilent Chairman, President and Chief Executive Officer Ned Barnholt said, "We are seeing a collective hesitation by many of our customers, who are deferring big ticket capital expenditures. Whether because of general economic weakness or geopolitical uncertainties, the result has been a continuation of the pattern of weak orders that we've experienced for the past year and a half.

"During our first quarter earnings conference call on Feb. 21 we will discuss the actions we are taking to return Agilent to profitability during the second half of this year, even at current order levels."

The company will release first fiscal quarter earnings before the market opens on Feb. 21, 2003 and will hold its quarterly conference call beginning at 7 a.m. Pacific Time on that date.

About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global technology leader in communications, electronics and life sciences. The company's 35,000 employees serve customers in more than 110 countries. Agilent had net revenue of $6 billion in fiscal year 2002. Information about Agilent is available on the Web at

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