-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VZsaUJTeBzsdBvZQRC+d0QiZTWiQWtftxlIjHzg6R1iLo38LSWrIIRta9gx6pXZT WewHgAAZPLiPplmVW/NMww== 0000891618-02-002508.txt : 20020517 0000891618-02-002508.hdr.sgml : 20020517 20020517172705 ACCESSION NUMBER: 0000891618-02-002508 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020516 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AGILENT TECHNOLOGIES INC CENTRAL INDEX KEY: 0001090872 STANDARD INDUSTRIAL CLASSIFICATION: INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825] IRS NUMBER: 770518772 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15405 FILM NUMBER: 02656915 BUSINESS ADDRESS: STREET 1: 395 PAGE MILL ROAD STREET 2: MS A 3-10 CITY: PALO ALTO STATE: CA ZIP: 94306 BUSINESS PHONE: 6507525000 MAIL ADDRESS: STREET 1: 395 PAGE MILL ROAD STREET 2: MS A 3-10 CITY: PALO ALTO STATE: CA ZIP: 94306 FORMER COMPANY: FORMER CONFORMED NAME: HP MEASUREMENT INC DATE OF NAME CHANGE: 19990716 8-K 1 f81830e8-k.htm FORM 8-K Agilent Technologies, Inc. Dated May 16, 2002
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported) May 16, 2002

AGILENT TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
         
Delaware
(State or other jurisdiction of
incorporation or organization)		   001-15405
(Commission File Number) 		  77-0518772
(IRS Employer Identification No.)

395 Page Mill Road, Palo Alto, California 94306
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (650) 752-5000


(Former name, former address and former fiscal year, if changed since last report)

 

Item 5. Other Events.
Item 7. Financial Statements and Exhibits
SIGNATURES
EXHIBIT INDEX
Exhibit 99.1

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Item 5. Other Events.

On May 16, 2002, Agilent Technologies, Inc. (the “Company”) announced its results for the three and six months ended April 30, 2002. A copy of the financial statements of the Company for the three and six months ended April 30, 2002 is attached as Exhibit 99.1.

Item 7. Financial Statements and Exhibits

(a)    Exhibits
     
Exhibit No.   Description
 
99.1   Financial Statements of the Company for the three and six months ended April 30, 2002.

 

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
             
    AGILENT TECHNOLOGIES, INC.
 
 
    By:     /s/   Marie Oh Huber
       
        Name:      Marie Oh Huber
        Title:      Vice President, Assistant Secretary and Assistant General Counsel

Date: May 17, 2002

 

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EXHIBIT INDEX
     
Exhibit No.   Description
 
99.1   Financial Statements of the Company for the three and six months ended April 30, 2002.

  EX-99.1 3 f81830ex99-1.txt EXHIBIT 99.1 EXHIBIT 99.1 AGILENT TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (In millions, except per share amounts) (UNAUDITED)
Six Months Ended April 30, ----------------------- Percent 2002 2001 Decrease -------- -------- -------- Orders $ 3,062 $ 3,869 (21%) Net revenue $ 2,883 $ 4,971 (42%) Costs and expenses: Cost of products and services 1,732 2,575 (33%) Research and development 587 653 (10%) Selling, general and administrative 1,355 1,498 (10%) -------- -------- Total costs & expenses 3,674 4,726 (22%) -------- -------- (Loss) earnings from operations before taxes (791) 245 (423%) Other income (expense), net 41 277 (85%) -------- -------- (Loss) earnings from continuing operations before taxes (750) 522 (244%) (Benefit) provision for taxes (186) 259 (172%) -------- -------- Net (loss) earnings from continuing operations (564) 263 (314%) Cumulative effect of adoption SFAS 133 (net of tax benefit of $16 million) -- (25) Cumulative effect of adopting SAB 101 (net of tax benefit of $24 million) -- (47) Earnings from discontinued operations, net of taxes -- 11 Loss from sale of discontinued operations, net of taxes (4) -- -------- -------- Net (loss) earnings $ (568) $ 202 (381%) ======== ======== NET (LOSS) EARNINGS PER SHARE - BASIC: Net (loss) earnings from continuing operations before cumulative effect of change in accounting principle $ (1.21) $ 0.58 Cumulative effect of adoption SFAS 133 -- (0.06) Cumulative effect of adoption SAB 101 -- (0.10) Earnings from discontinued operations -- 0.02 Loss from sale of discontinued operations (0.01) -- -------- -------- $ (1.22) $ 0.44 ======== ======== NET (LOSS) EARNINGS PER SHARE - DILUTED: Net (loss) earnings from continuing operations before cumulative effect of change in accounting principle $ (1.21) $ 0.57 Cumulative effect of adoption SFAS 133 -- (0.05) Cumulative effect of adoption SAB 101 -- (0.10) Earnings from discontinued operations -- 0.02 Loss from sale of discontinued operations (0.01) -- -------- -------- $ (1.22) $ 0.44 ======== ======== Avg shares used in computing net (loss) earnings per share: Basic 464 455 Diluted 464 464
Note: Amounts in the condensed consolidated financial statements for the six months ended April 30, 2001 have been reclassified to conform to the current period's presentation. AGILENT TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (In millions, except per share amounts) (UNAUDITED)
Three Months Ended April 30, ----------------------- Percent 2002 2001 Inc/(Dec) -------- -------- --------- Orders $ 1,597 $ 1,397 14% Net revenue $ 1,457 $ 2,406 (39%) Costs and expenses: Cost of products and services 854 1,353 (37%) Research and development 289 331 (13%) Selling, general and administrative 663 771 (14%) -------- -------- Total costs & expenses 1,806 2,455 (26%) -------- -------- Loss from operations before taxes (349) (49) (612%) Other income (expense), net 22 260 (92%) -------- -------- (Loss) earnings from continuing operations before taxes (327) 211 (255%) (Benefit) provision for taxes (80) 122 (166%) -------- -------- Net (loss) earnings from continuing operations (247) 89 (378%) Earnings from discontinued operations, net of taxes -- 13 Loss from sale of discontinued operations, net of taxes (6) -- -------- -------- Net (loss) earnings $ (253) $ 102 (348%) ======== ======== NET (LOSS) EARNINGS PER SHARE - BASIC: Net (loss) earnings from continuing operations before discontinued operations $ (0.54) $ 0.19 Earnings from discontinued operations $ -- 0.03 Loss from sale of discontinued operations $ (0.01) -- -------- -------- $ (0.55) $ 0.22 ======== ======== NET (LOSS) EARNINGS PER SHARE - DILUTED: Net (loss) earnings from continuing operations before discontinued operations $ (0.54) $ 0.19 Earnings from discontinued operations -- 0.03 Loss from sale of discontinued operations (0.01) -- -------- -------- $ (0.55) $ 0.22 ======== ======== Avg shares used in computing net (loss) earnings per share: Basic 464 456 Diluted 464 461
Note: Amounts in the condensed consolidated financial statements for the three months ended April 30, 2001 have been reclassified to conform to the current period's presentation. AGILENT TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED) (In millions, except par value and share amounts)
April 30, October 31, 2002 2001 --------- ----------- ASSETS Current assets: Cash and cash equivalents $ 2,235 $ 1,170 Accounts receivable, net 902 977 Inventory 1,307 1,491 Net investment in lease receivable 13 237 Other current assets 803 924 -------- -------- Total current assets 5,260 4,799 Property, plant and equipment, net 1,728 1,848 Goodwill and other intangible assets, net 863 1,070 Other assets 387 269 -------- -------- Total assets $ 8,238 $ 7,986 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 347 $ 392 Employee compensation and benefits 522 576 Deferred revenue 283 279 Accrued taxes and other accrued liabilities 457 755 -------- -------- Total current liabilities 1,609 2,002 -------- -------- Senior convertible debentures 1,150 -- Other liabilities 351 325 Commitments and contingencies Stockholders' equity: Preferred stock; $0.01 par value; 125 million shares authorized; none issued and outstanding Common stock; $0.01 par value; 2 billion shares authorized; 464 million shares at April 30, 2002 and 461 million shares at October 31, 2001 issued and outstanding 5 5 Additional paid-in capital 4,803 4,723 Retained earnings 363 931 Accumulated comprehensive loss (43) -- -------- -------- Total stockholders' equity 5,128 5,659 -------- -------- Total liabilities and stockholders' equity $ 8,238 $ 7,986 ======== ========
AGILENT TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) (In millions)
Six months Three months ended ended April 30, April 30, 2002 2002 ---------- ------------ Cash flows from operating activities: Net loss from continuing operations (564) (247) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 368 169 Inventory related charges 22 12 Deferred taxes 25 (24) Asset impairment charges 12 (4) Net gain on divestitures and sales of assets (12) (7) Changes in assets and liabilities: Accounts receivable 66 (96) Inventory 162 71 Accounts payable (57) 8 US Pension contribution (76) (76) Accrued compensation and benefits 23 65 Income taxes payable (269) (74) Other current assets and liabilities 51 73 Other long term assets and liabilities (13) 12 -------- -------- Net cash used in operating activities *: (262) (118) -------- -------- Cash flows from investing activities: Investments in property, plant and equipment (155) (86) Proceeds from net investment in lease receivable 237 237 Purchase of equity investments (3) -- Proceeds from dispositions 26 7 -------- -------- Net cash provided by investing activities: 105 158 -------- -------- Cash flows from financing activities: Issuance of long-term debt, net of issuance costs 1,123 -- Issuance of common stock under employee stock plans 72 10 Net proceeds from notes payable and short-term borrowings 4 1 -------- -------- Net cash provided by financing activities: 1,199 11 -------- -------- Net cash provided by (used in) discontinued operations 23 (4) -------- -------- Change in cash and cash equivalents 1,065 47 -------- -------- Cash and cash equivalents at beginning of period 1,170 2,188 -------- -------- Cash and cash equivalents at end of period 2,235 2,235 ======== ======== * Cash payments for restructuring included in operating activities: 144 55
AGILENT TECHNOLOGIES, INC. ORDERS AND NET REVENUE FROM CONTINUING OPERATIONS BY BUSINESS SEGMENT (UNAUDITED) (In millions, except percent changes)
For the three months ended April 30 Yr vs. Yr Sequential 2002 2001 % change % change -------- -------- --------- ---------- ORDERS Test and measurement $ 836 $ 932 (10%) 0% Semiconductor products 476 200 138% 38% Life sciences and chemical analysis 285 265 8% (1%) -------- -------- -------- -------- Total $ 1,597 $ 1,397 14% 9% ======== ======== ======== ======== NET REVENUE Test and measurement $ 814 $ 1,661 (51%) (1%) Semiconductor products 371 455 (18%) 13% Life sciences and chemical analysis 272 290 (6%) (2%) -------- -------- -------- -------- Total $ 1,457 $ 2,406 (39%) 2% ======== ======== ======== ========
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. AGILENT TECHNOLOGIES, INC. ORDERS AND NET REVENUE FROM CONTINUING OPERATIONS BY BUSINESS SEGMENT (UNAUDITED) (In millions, except percent changes)
For the six months ended April 30 Yr vs.Yr 2002 2001 % change -------- -------- -------- ORDERS Test and measurement $ 1,668 $ 2,552 (35%) Semiconductor products 822 753 9% Life sciences and chemical analysis 572 564 1% -------- -------- -------- Total $ 3,062 $ 3,869 (21%) ======== ======== ======== NET REVENUE Test and measurement $ 1,636 $ 3,366 (51%) Semiconductor products 698 1,047 (33%) Life sciences and chemical analysis 549 558 (2%) -------- -------- -------- Total $ 2,883 $ 4,971 (42%) ======== ======== ========
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. -----END PRIVACY-ENHANCED MESSAGE-----