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agilent Q308Reconciliations agilent Q308Reconciliations Presentation Transcript

  • AGILENT TECHNOLOGIES, INC. RECONCILIATION OF DAYS ON HAND (DOH) (IN MILLIONS) PRELIMINARY Q3 '08 Q3'07 Q2 '08 GAAP Costs of Products and Services 641 616 649 Net Inventory 674 674 674 GAAP Inventory Days 95 98 93 Non-GAAP Costs of Products and Services 641 616 649 Ammortization of Intangibles, Others (9) (8) (8) Restructuring and Asset Impairment (2) (3) (4) Net Inventory (Charges)/Sales of previously written down inventory (7) (5) (4) Adjusted Costs of Products and Services 623 600 633 Net Inventory 674 674 674 Non-GAAP Inventory Days 97 101 96 Non-GAAP DOH Formula: (Quarter-end net inventory * 90 Days)/(Current COGS - Inventory Charges - Non-GAAP Adjustments) GAAP DOH Formula: (Quarter-end net inventory * 90 Days)/(Current COGS) The preliminary reconciliation of days on hand is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC. OPERATING EXPENSES RECONCILIATION (IN MILLIONS) PRELIMINARY Q3'08 Q3'07 $ Change % Change GAAP Total Operating Expenses 585 590 -1% Currency Impact 23 Adjusted Operating Expenses 562 590 -5% Stratagene & Velocity 11 14 Operating Expenses Organic Operating Expenses 548 590 (42) -7% Non-GAAP Total Operating Expenses 576 573 0% Currency Impact 23 Adjusted Operating Expenses 553 573 -4% Stratagene & Velocity 11 14 Operating Expenses Organic Operating Expenses 539 573 (34) -6% The preliminary reconciliation of operating expenses is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC. RECONCILIATION OF INCREMENTAL REVENUE TO BOTTOM LINE (IN MILLIONS) PRELIMINARY (In millions) Q3'08 Q3'07 $ Change Incremental GAAP Revenue 1,444 1,374 70 Income from Operations 218 168 50 71% Non-GAAP Including Stratagene & Velocity11 Revenue 1,444 1,374 70 Income from Operations (See reconciliations) 238 196 42 60% Non-GAAP Excluding Stratagene & Velocity11 Revenue 1,409 1,357 52 Income from Operations (See reconciliations) 242 196 46 88% The preliminary reconciliation of incremental change is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP (INCLUDES FAS 123R IN GAAP & NON-GAAP) THREE MONTHS ENDED July 31, 2008 (Unaudited) Non-GAAP Adjustments Restructuring Acceleration of and Asset Intangible Debt Issuance Adjustment for (In millions, except per share amounts) GAAP Impairment Amortization Costs Other Taxes Non-GAAP Orders Change Year Over Year 6% $1,387 $- $- $- $- $- $1,387 6% Change Year Over Year Net revenue Change Year Over Year 5% $1,444 $- $- $- $- $- $1,444 5% Change Year Over Year Costs and expenses: Cost of products and services Gross Margin 55.6% 641 (2) (9) - - - 630 56.4% Gross Margin Research and development As a % of Revenue 11.8% 170 (1) - - - 169 11.7% As a % of Revenue Selling, general and administrative As a % of Revenue 28.7% 415 (2) (5) - (1) - 407 28.2% As a % of Revenue Total costs and expenses 1,226 (5) (14) - (1) - 1,206 Income from operations Operating Margin 15.1% 218 5 14 - 1 - 238 16.5% Operating Margin Other income (expense), net (3) - - 8 - 5 Income from operations before taxes 215 5 14 8 1 - 243 Tax rate (incl. Valuation Tax rate (incl. Valuation Provision (benefit) for taxes Allowance) 21% 46 - - - (1) 45 18.5% Allowance) Net Margin 11.7% $169 $5 $14 $8 $1 $1 $198 13.7% Net Margin Net income Net income per share - Basic and Diluted: Basic $0.47 $0.02 $0.04 $0.02 $- $- $0.55 Diluted $0.45 $0.02 $0.04 $0.02 $- $- $0.53 Weighted average shares used in computing net income er share: Basic 362 362 362 362 362 362 362 Diluted 372 372 372 372 372 372 372 The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP (INCLUDES FAS 123R IN GAAP & NON-GAAP) NINE MONTHS ENDED July 31, 2008 (Unaudited) Non-GAAP Adjustments Business Restructuring Disposal and Excess Net translation Acceleration of and Asset Infrastructure Software Intangible gain from liquidation Debt Issuance In Process Adjustment for (In millions, except per share amounts) GAAP Impairment Reduction Costs Amortization Amortization of a subsidiary Costs R&D Other Taxes Non-GAAP Orders Change Year Over Year 9% $4,312 $- $- $- $- $- $- $- $- $- $4,312 9% Change Year Over Year Net revenue Change Year Over Year 8% $4,293 $- $- $- $- $- $- $- $- $- $4,293 8% Change Year Over Year Costs and expenses: Cost of products and services Gross Margin 55.1% 1,927 (14) - - (26) - - - - - 1,887 56.0% Gross Margin Research and development As a % of Revenue 12.4% 534 (4) - - - - - (2) - - 528 12.3% As a % of Revenue Selling, general and administrative As a % of Revenue 30.0% 1,289 (5) (2) (3) (14) - - - (4) - 1,261 29.4% As a % of Revenue Total costs and expenses 3,750 (23) (2) (3) (40) - - (2) (4) - 3,676 Income from operations Operating Margin 12.6% 543 23 2 3 40 - - 2 4 - 617 14.4% Operating Margin Other income (expense), net 15 - (2) - - (11) 13 - 1 - 16 Income from operations before taxes 558 23 - 3 40 (11) 13 2 5 - 633 Tax rate (incl. Valuation Tax rate (incl. Valuation Provision for taxes Allowance) 17% 96 - - - - - - - - 31 127 20% Allowance) Net Margin 10.8% $462 $23 $- $3 $40 $(11) $13 $2 $5 $(31) $506 11.8% Net Margin Net income (loss) Net income (loss) per share - Basic and Diluted: Basic $1.27 $0.06 $- $0.01 $0.11 $(0.03) $0.04 $0.01 $0.01 $(0.09) $1.39 Diluted $1.23 $0.06 $- $0.01 $0.11 $(0.03) $0.03 $0.01 $0.01 $(0.08) $1.35 Weighted average shares used in computing net income (loss) per share: Basic 365 365 365 365 365 365 365 365 365 365 365 Diluted 375 375 375 375 375 375 375 375 375 375 375 The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP (INCLUDES FAS 123R IN GAAP & NON-GAAP AND EXCLUDES STRATAGENE & VELOCITY11) THREE MONTHS ENDED July 31, 2008 (Unaudited) Non-GAAP Adjustments Agilent Restructuring Acceleration of Stratagene Less and Asset Intangible Debt Issuance and Adjustment for Stratagene & V11 (In millions, except per share amounts) GAAP Impairment Amortization Costs Other Velocity11 Taxes Non-GAAP Orders Change Year Over Year 6% $1,387 $- $- $- $- $(39) $- $1,348 4% Change Year Over Year Net revenue Change Year Over Year 5% $1,444 $- $- $- $- $(35) $- $1,409 4% Change Year Over Year Costs and expenses: Cost of products and services Gross Margin 55.6% 641 (2) (9) (16) - 614 56.4% Gross Margin Research and development As a % of Revenue 11.8% 170 (1) (7) - 162 11.5% As a % of Revenue Selling, general and administrative As a % of Revenue 28.7% 415 (2) (5) (1) (16) - 391 27.8% As a % of Revenue Total costs and expenses 1,226 (5) (14) - (1) (39) - 1,167 Income from operations Operating Margin 15.1% 218 5 14 - 1 4 - 242 17.2% Operating Margin Other income (expense), net (3) - - 8 (1) - 4 Income from operations before taxes 215 5 14 8 1 3 - 246 Tax rate (incl. Valuation Tax rate (incl. Valuation Provision (benefit) for taxes Allowance) 21% 46 - - - 1 (1) 46 19% Allowance) Net Margin 11.7% $169 $5 $14 $8 $1 $2 $1 $200 14.2% Net Margin Net income Net income per share - Basic and Diluted: Basic $0.47 $0.02 $0.04 $0.02 $- $- $- $0.55 Diluted $0.45 $0.02 $0.04 $0.02 $- $0.01 $- $0.54 Weighted average shares used in computing net income per share: Basic 362 362 362 362 362 362 362 362 Diluted 372 372 372 372 372 372 372 372 The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP (INCLUDES FAS 123R IN GAAP & NON-GAAP AND EXCLUDES STRATAGENE & VELOCITY11) NINE MONTHS ENDED July 31, 2008 (Unaudited) Non-GAAP Adjustments Business Agilent Restructuring Disposal and Excess Net translation Acceleration of Stratagene Less and Asset Infrastructure Software Intangible gain from liquidation Debt Issuance In Process and Adjustment for Stratagene & V11 (In millions, except per share amounts) GAAP Impairment Reduction Costs Amortization Amortization of a subsidiary Costs R&D Other Velocity11 Taxes Non-GAAP Orders Change Year Over Year 9% $4,312 $- $- $- $- $- $- $- $- $(101) $- $4,211 7% Change Year Over Year Net revenue Change Year Over Year 8% $4,293 $- $- $- $- $- $- $- $- $(97) $- $4,196 6% Change Year Over Year Costs and expenses: Cost of products and services Gross Margin 55.1% 1,927 (14) (26) (52) - 1,835 56.3% Gross Margin Research and development As a % of Revenue 12.4% 534 (4) (2) (18) - 510 12.2% As a % of Revenue Selling, general and administrative As a % of Revenue 30.0% 1,289 (5) (2) (3) (14) (4) (41) - 1,220 29.1% As a % of Revenue Total costs and expenses 3,750 (23) (2) (3) (40) - - (2) (4) (111) - 3,565 Income from operations Operating Margin 12.6% 543 23 2 3 40 - - 2 4 14 - 631 15.0% Operating Margin Other income (expense), net 15 - (2) - - (11) 13 1 (1) - 15 Income from operations before taxes 558 23 - 3 40 (11) 13 2 5 13 - 646 Tax rate (incl. Valuation Tax rate (incl. Valuation Provision for taxes Allowance) 17% 96 - - - - - 3 31 130 20% Allowance) Net Margin 10.8% $462 $23 $- $3 $40 $(11) $13 $2 $5 $10 $(31) $516 12.3% Net Margin Net income (loss) Net income (loss) per share - Basic and Diluted: Basic $1.27 $0.06 $- $0.01 $0.11 $(0.03) $0.04 $0.01 $0.01 $0.02 $(0.09) $1.41 Diluted $1.23 $0.06 $- $0.01 $0.11 $(0.03) $0.03 $0.01 $0.01 $0.03 $(0.08) $1.38 Weighted average shares used in computing net income (loss) per share: Basic 365 365 365 365 365 365 365 365 365 365 365 365 Diluted 375 375 375 375 375 375 375 375 375 375 375 375 The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP (EXCLUDES FAS123R IN NON-GAAP) THREE MONTHS ENDED July 31, 2008 (Unaudited) Non-GAAP Adjustments Restructuring Share-Based Acceleration of and Asset Compensation Intangible Debt Issuance Adjustment for (In millions, except per share amounts) GAAP Impairment Expense Amortization Costs Other Taxes Non-GAAP Orders Change Year Over Year 6% $1,387 $- $- $- $- $- $- $1,387 6% Change Year Over Year Net revenue Change Year Over Year 5% $1,444 $- $- $- $- $- $- $1,444 5% Change Year Over Year Costs and expenses: Cost of products and services Gross Margin 55.6% 641 (2) (3) (9) - - - 627 56.6% Gross Margin Research and development As a % of Revenue 11.8% 170 (1) (3) - - - 166 11.5% As a % of Revenue Selling, general and administrative As a % of Revenue 28.7% 415 (2) (12) (5) - (1) - 395 27.4% As a % of Revenue Total costs and expenses 1,226 (5) (18) (14) - (1) - 1,188 Income from operations Operating Margin 15.1% 218 5 18 14 - 1 - 256 17.7% Operating Margin Other income (expense), net (3) - - - 8 - 5 Income from operations before taxes 215 5 18 14 8 1 - 261 Tax rate (incl. Valuation Tax rate (incl. Valuation Provision for taxes Allowance) 21% 46 - - - - - 3 49 19% Allowance) Net Margin 11.7% $169 $5 $18 $14 $8 $1 $(3) $212 14.7% Net Margin Net income (loss) Net income (loss) per share - Basic and Diluted: Basic $0.47 $0.02 $0.05 $0.04 $0.02 $- $(0.01) $0.59 Diluted $0.45 $0.02 $0.05 $0.04 $0.02 $- $(0.01) $0.57 Weighted average shares used in computing net income (loss) per share: Basic 362 362 362 362 362 362 362 362 Diluted 372 372 372 372 372 372 372 372 The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP (EXCLUDES FAS 123R IN NON-GAAP) NINE MONTHS ENDED July 31, 2008 (Unaudited) Non-GAAP Adjustments Business Restructuring Disposal and Share-Based Excess Net translation Acceleration of and Asset Infrastructure Compensation Software Intangible gain from liquidation Debt Issuance In Process Adjustment for (In millions, except per share amounts) GAAP Impairment Reduction Costs Expense Amortization Amortization of a subsidiary Costs R&D Other Taxes Non-GAAP Orders Change Year Over Year 9% $4,312 $- $- $- $- $- $- $- $- $- $- $4,312 9% Change Year Over Year Net revenue Change Year Over Year 8% $4,293 $- $- $- $- $- $- $- $- $- $- $4,293 8% Change Year Over Year Costs and expenses: Cost of products and services Gross Margin 55.1% 1,927 (14) - (14) - (26) - - - - - 1,873 56.4% Gross Margin Research and development As a % of Revenue 12.4% 534 (4) - (11) - - - - (2) - - 517 12.0% As a % of Revenue Selling, general and administrative As a % of Revenue 30.0% 1,289 (5) (2) (42) (3) (14) - - - (4) - 1,219 28.4% As a % of Revenue Total costs and expenses 3,750 (23) (2) (67) (3) (40) - - (2) (4) - 3,609 Income from operations Operating Margin 12.6% 543 23 2 67 3 40 - - 2 4 - 684 15.9% Operating Margin Other income (expense), net 15 - (2) - - - (11) 13 - 1 - 16 Income from operations before taxes 558 23 - 67 3 40 (11) 13 2 5 - 700 Tax rate (incl. Valuation Tax rate (incl. Valuation Provision for taxes Allowance) 17% 96 - - - - - - - - - 45 141 20% Allowance) Net Margin 10.8% $462 $23 $- $67 $3 $40 $(11) $13 $2 $5 $(45) $559 13.0% Net Margin Net income (loss) Net income (loss) per share - Basic and Diluted: Basic $1.27 $0.06 $- $0.18 $0.01 $0.11 $(0.03) $0.04 $0.01 $0.01 $(0.13) $1.53 Diluted $1.23 $0.06 $- $0.18 $0.01 $0.11 $(0.03) $0.03 $0.01 $0.01 $(0.12) $1.49 Weighted average shares used in computing net income (loss) per share: Basic 365 365 365 365 365 365 365 365 365 365 365 365 Diluted 375 375 375 375 375 375 375 375 375 375 375 375 The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP (EXCLUDES FAS 123R IN NON-GAAP) THREE MONTHS ENDED July 31, 2007 (Unaudited) Non-GAAP Adjustments Business Restructuring Disposal and Gain Excess and Asset Infrastructure on Sale of Software Intangible Share Based Adjustment for (In millions, except per share amounts) GAAP Impairment Reduction Costs Assets Amortization Amortization Compensation Other Taxes Non-GAAP Orders Change Year Over Year 7% $1,308 $- $- $- $- $- $- $- $- $1,308 7% Change Year Over Year Net revenue Change Year Over Year 11% $1,374 $- $- $- $- $- $- $- $- $1,374 11% Change Year Over Year Costs and expenses: Cost of products and services Gross Margin 55.2% 616 (3) - - - (9) (6) 1 - 599 56.4% Gross Margin Research and development As a % of Revenue 12.4% 170 (3) - - - - (4) (1) - 162 11.8% As a % of Revenue Selling, general and administrative As a % of Revenue 30.6% 420 (5) (2) 2 (6) (3) (17) 1 - 390 28.4% As a % of Revenue Total costs and expenses 1,206 (11) (2) 2 (6) (12) (27) 1 - 1,151 Income from operations Operating Margin 12.2% 168 11 2 (2) 6 12 27 (1) - 223 16.2% Operating Margin Other income (expense), net 22 - - (6) - - 5 - 21 Income from operations before taxes 190 11 2 (8) 6 12 27 4 - 244 Tax rate (incl. Valuation Tax rate (incl. Valuation Tax Provision 3% 5 - - - - - - 45 50 20% Allowance) Allowance) Net Margin 13.5% $185 $11 $2 $(8) $6 $12 $27 $4 $(45) $194 14.1% Net Margin Net income (loss) Net income per share - Basic and Diluted: Basic $0.47 $0.03 $0.01 $(0.02) $0.02 $0.03 $0.07 $0.01 $(0.11) $0.49 Diluted $0.45 $0.03 $0.00 $(0.02) $0.01 $0.03 $0.07 $0.01 $(0.11) $0.48 Weighted average shares used in computing net income per share: Basic 392 392 392 392 392 392 392 392 392 392 Diluted 407 407 407 407 407 407 407 407 407 407 The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information.
  • AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP (INCLUDES FAS 123R IN GAAP & NON-GAAP AND EXCLUDES STRATAGENE) INCLUDING 123R EXCLUDING STRATAGENE THREE MONTHS ENDED July 31, 2007 (Unaudited) Non-GAAP Adjustments Business Restructuring Disposal and Gain Excess and Asset Infrastructure on Sale of Software Intangible Adjustment for (In millions, except per share amounts) GAAP Impairment Reduction Costs Assets Amortization Amortization Stratagene Other Taxes Non-GAAP Orders Change Year Over Year 7% $1,308 $- $- $- $- $- $(17) $- $- $1,291 5% Change Year Over Year Net revenue Change Year Over Year 11% $1,374 $- $- $- $- $- $(17) $- $- $1,357 10% Change Year Over Year Costs and expenses: Cost of products and services Gross Margin 55.2% 616 (3) - - - (9) (8) 1 - 597 56.0% Gross Margin Research and development As a % of Revenue 12.4% 170 (3) - - - - (2) (1) - 164 12.1% As a % of Revenue Selling, general and administrative As a % of Revenue 30.6% 420 (5) (2) 2 (6) (3) (7) 1 - 400 29.5% As a % of Revenue Total costs and expenses 1,206 (11) (2) 2 (6) (12) (17) 1 - 1,161 Income from operations Operating Margin 12.2% 168 11 2 (2) 6 12 - (1) - 196 14.4% Operating Margin Other income (expense), net 22 - - (6) - - 5 - 21 Income from operations before taxes 190 11 2 (8) 6 12 - 4 - 217 Tax rate (incl. Valuation Tax rate (incl. Valuation Tax Provision Allowance) 3% 5 - - - - - - 39 44 20% Allowance) Net Margin 13.5% $185 $11 $2 $(8) $6 $12 $- $4 $(39) $173 12.7% Net Margin Net income (loss) Net income per share - Basic and Diluted: Basic $0.47 $0.03 $0.01 $(0.02) $0.02 $0.03 $- $0.01 $(0.10) $0.44 Diluted $0.45 $0.03 $0.00 $(0.02) $0.01 $0.03 $- $0.01 $(0.10) $0.43 Weighted average shares used in computing net income per share: Basic 392 392 392 392 392 392 392 392 392 392 Diluted 407 407 407 407 407 407 407 407 407 407 The preliminary reconciliation from GAAP to Non-GAAP net income is estimated based on our current information.