Agilent Technologies, Inc. · NYSE:A
Agilent Technologies — Investor Day (March 2013)
82 slides from Agilent Technologies's investor day presentation, Mar 7, 2013
Slide 1: Agilent Technologies 2013 Analyst Meeting
Agilent Technologies 2013 Analyst Meeting March 7, 2013 NYSE Euronext New York, NY
Slide 2: Safe Harbor
Safe Harbor This presentation contains forward-looking statements (including, without limitation, information and future guidance on our goals, priorities, revenues, demand, growth opportunities, customer service and innovation plans, new product introductions, financial condition, earnings, the con
Slide 3: Agenda
Agenda 8:00 a.m. – 8:30 a.m. Registration 8:30 a.m. – 8:40 a.m. Bill Sullivan: Introduction and Overview 8:40 a.m. – 9:15 a.m. Ron Nersesian: Operational Review and Strategic Update 9:15 a.m. – 9:25 a.m. Didier Hirsch: Financial Review 9:25 a.m. – 9:45 a.m. Q&A (Bill, Ron & Didier) 9:45 a.m. – 10:00
Slide 4: Bill Sullivan, Chief Executive Officer
Agilent Technologies William (Bill) P. Sullivan Chief Executive Officer
Slide 5: The World's Premier Measurement Company
The World’s Premier Measurement Company Bill Sullivan Ron Nersesian Didier Hirsch CEO COO CFO Lars Holmkvist Mike McMullen Nick Roelofs Guy Séné Gooi Soon Chai DGG CAG LSG EMG AOF FY12 Revenue $6.9B, Growth +4%, Operating Margin* 20%, Operating Cash Flow $1.2B Diagnostics & Chemical Electronic Life
Slide 6: FY 2012: Excellent Financial Performance in a Slowing Global Economy
FY 2012: Excellent Financial Performance in a Slowing Global Economy 2009 2010 2011 2012 Revenue $4.5 B $5.5 B $6.6 B $6.9 B YoY growth -22% 22% 21% 4% Core* growth -20% 17% 14% 2% Operating Margin** 8.8% 17.1% 19.8% 20.2% EPS $ 0.80 $ 2.00 $ 2.95 $ 3.12 • Improved operating margin and EPS • Changed
Slide 7: FY 2013 Priorities
FY 2013 Priorities • Increase organic growth rate Invest in market expansion and R&D • Improve gross margins Multi-year effort to reduce manufacturing and logistics costs by $180M – one-third complete • Ensure Dako success Launch autostainer, leverage our genomics and pathology businesses Analyst Me
Slide 8: Ron Nersesian, President and COO
Agilent Technologies Ron Nersesian President Chief Operating Officer
Slide 9: Agilent Overview
Agilent Overview Revenue Mix by Geography Market Size*: $54B Americas Europe Long Term Market Growth*: 4-6% 2012 Revenue: $6.9B 2012 Operating Margin**: 20% Asia Pacific FY12 FY12 Op FY09-12 Revenue Margin Revenue CAGR Diagnostics and $0.4B 16% 20% Genomics Chemical $1.6B 22% 23% Analysis Life $1.6B
Slide 10: Growth through Strategic Investments
Growth through Strategic Investments $668M or 10% of Agilent’s FY12 revenue invested in R&D R&D Manufacturing Sales & Mktg. ~3,000 ~8,000 ~6,000 Employees Employees Employees FY12 R&D Group ($ and % of Group R&D Investment Examples Addressing Market Trends Revenue) $54M Diagnostics: Investing to cap
Slide 11: Increasing Recurring Revenues
Increasing Recurring Revenues Q1’13 Recurring Revenue of 30% • Dako acquisition and faster growing Life Non-recurring Science and Diagnostics markets accelerate Revenue 70% increase • Multi-vendor support program grows services CAG and LSG and consumables business for CAG and LSG DGG EMG 7% 17% 6% •
Slide 12: Geographic Expansion in Emerging Markets
Geographic Expansion in Emerging Markets Grew emerging markets* from 22% of Agilent revenue in FY09 to 29% in FY12 Including Korea, Taiwan, Hong Kong, and Singapore, 38% of Agilent’s FY12 revenues were from emerging markets * Based on IMF country groupings definition Analyst Meeting Page 12 March 7,
Slide 13: Leveraging Agilent Leadership
Leveraging Agilent Leadership Balance of centralized and decentralized drives best-in-class solutions and operations Technology Order Fulfillment IT and Real Estate Agilent Labs and technology Best-in-class supply chain Leverage common functions and centers develop breakthrough leverages scale, tech
Slide 14: How We Will Win
How We Will Win • Allocate R&D resources to strategic opportunities • Continue to invest in emerging markets • Continue to provide broader workflow solutions beyond the box • Drive efficiencies to capture gross margin improvements in LSG and CAG • World-class team in place to continue to execute on
Slide 15: Didier Hirsch, Chief Financial Officer
Agilent Technologies Didier Hirsch Senior Vice President Chief Financial Officer
Slide 16: FY 2012 / FY 2013 Financial Highlights
FY 2012 / FY 2013 Financial Highlights Note: Q2 and FY 2013 guidance represents the high end of Feb. 14 guidance, and does not imply any modification to guidance FY12 Q1 FY13 Q2 FY13* FY13* High End of High End of Actual Actual Guidance Guidance Revenue $6.9B $1.68B $1.77B $7.1B Core Revenue Growth*
Slide 17: Financial Results and Goals
Financial Results and Goals Note: 2013 guidance represents the high end of Feb. 14 guidance, and does not imply any modification to guidance Base Scenario Low Growth Scenario 2011 2012 2013* 2014 2015 2016 2014 2015 2016 High End of Guidance Revenue Growth – 14% 2% Flat 7% 7% 7% 4% 4.5% 5% Core** OM
Slide 18: Financial Results and Goals – By Segment
Financial Results and Goals – By Segment Note: 2013 guidance represents the high end of Feb. 14 guidance, and does not imply any modification to guidance Base Scenario Low Growth Scenario 2011 2012 2013* 2014 2015 2016 2014 2015 2016 High End of Guidance Revenue Growth – Core** EMG 20% 0% -5% 6% 6%
Slide 19: Capital Deployment
Capital Deployment FY12 / FY13 to date: • Implemented $0.10 quarterly dividend in January 2012. Raised to $0.12 in January 2013 • Repurchased $172M of stock in FY12. Approved up to $500M in FY13 • Used $2.1B of off-shore cash to acquire Dako • Refinanced $250M Senior notes, and borrowed another $150
Slide 20: Q&A
Agilent Technologies Q&A Bill Sullivan Ron Nersesian Didier Hirsch CEO COO CFO
Slide 21: Break
Agilent Technologies 15 Minute Break
Slide 22: Lars Holmkvist, Diagnostics and Genomics Group
Agilent Technologies Lars Holmkvist President, Diagnostics and Genomics Group
Slide 23: Diagnostics and Genomics Group Overview
Diagnostics and Genomics Group Overview Market Size*: $7B Long Term Market Growth*: 8-10% 2012 DGG Revenue $402M 2012 Operating Margin 16% Markets & Market Position Revenue Mix Anatomic Pathology #2 by Geography Molecular Americas Europe Diagnostics Emerging DGG also sells into the pharmaceutical As
Slide 24: Macro Trends
Macro Trends • Growing market due to increasing patient population (aging, lifestyle impacts); increasing understanding of cancer Anatomic markers and pathways; and greater access to healthcare in Pathology emerging markets • Companion diagnostics bring diagnostic and treatment solutions together to
Slide 25: The Anatomic Pathology Workflow
The Anatomic Pathology Workflow Pathology Lab Workflow Dako OmnisTM • Ease of use Doctor / Oncologist Processing • True-continuous loading Grossing Embedding • Overnight capacity Surgery • Temperature control of reagent • Turn around time for ISH Specimen Additional antibody waves Receiving and Data
Slide 26: Innovative ISH Technologies
Innovative ISH Technologies SureFISH launched March 2012 IQFISH launched February 2012 • Based on Agilent’s capabilities to • Ultra fast hybridization buffer produce DNA probes • Non-toxic • Flexibility to produce any sequence • Superior quality on formalin fixed paraffin embedded (FFPE) Analyst Mee
Slide 27: Target Enrichment and Microarrays
Target Enrichment and Microarrays Target Enrichment is attractive market in Microarrays offers attractive opportunity clinical research in routine clinical market • >$100M market, strong margins, solid growth • Overall market offers growth opportunities • Moving towards clinical sequencing and • Uti
Slide 28: Expand PharmDx Program
Expand PharmDx Program Companion Diagnostics as Competitive Advantage F R O M C E R TA I N T Y C O M E S T R U S T • There is a growing need for new pharmaceutical treatments to be developed in tandem with diagnostic tests which will give indication of their potential efficacy • Current cancer treat
Slide 29: How We Will Win
How We Will Win • Accelerate our growth in Anatomic Pathology • Investment in Asia, emerging markets • Substantial investment in R&D i.e. SureFISH • Leverage operational capabilities within the group i.e. cold chain • Regulatory channel capabilities to drive Genomics solutions into clinical labs DGG
Slide 30: Mike McMullen, Chemical Analysis Group
Agilent Technologies Mike McMullen President, Chemical Analysis Group
Slide 31: Chemical Analysis Group Overview
Chemical Analysis Group Overview Market Size*: $13B Long Term Market Growth*: 4-5% 2012 CAG Revenue $1.6B New Global Trends 2012 Operating Margin 22% • Global food supply • New environmental contaminants Revenue Mix • Designer drugs by Geography • Rising energy demands Americas Europe Markets and Ma
Slide 32: What We Gained from Varian
What We Gained from Varian Customer, shareholder and Agilent benefits Growth: Expanded Addressable Market • Portfolio: Broader technology offering in core markets • Expanded Installed Base: Instrument cross-selling, increased Services and Consumables opportunities • Market Reach: Expanded geographic
Slide 33: Gains in Spectroscopy
Gains in Spectroscopy Expanding core business, capturing share • Acquisition broadened Agilent’s presence in Spectroscopy market – with “room to grow” • Accelerated R&D funding; commercialization resources fueling aggressive launch of industry-first technologies and refresh of all platforms 4100 MP-
Slide 34: Strengthening Gas Phase Leadership
Strengthening Gas Phase Leadership Leading innovation, superior customer value • Recognized leader in product technology and quality; investing 7890B GC more than competitors to strengthen position Refreshed version of industry leader • Strong foundation for future growth: Largest and growing instal
Slide 35: Indispensable in the Lab
Indispensable in the Lab Agilent’s Services & Consumables – a growing $1B business • Opportunities for continued growth and expansion • Installed base and competitor installed base • Expanded portfolio – novel chemistries, lab productivity services • Increasing our strategic importance to our custom
Slide 36: How We Will Win
How We Will Win • Leverage large and growing installed base, emerging market presence • Expand portfolio with leading innovation, superior quality • Business model: Portfolio and Supply Chain transformation funding growth investments, improving profitability • Expand presence and strategic value at
Slide 37: Nick Roelofs, Life Sciences Group
Agilent Technologies Nick Roelofs, Ph.D. President, Life Sciences Group
Slide 38: Life Sciences Group Overview
Life Sciences Group Overview Market Size*: $21B Long Term Market Growth*: 4-5% 2012 LSG Revenue $1.6B 2012 Operating Margin 15% 19% Excl. RPD** Markets & Market Position Revenue Mix Pharma & Biotech #3 by Geography Academia & Europe Americas Government #4#4 Research #1 in Liquid Chromatography (LC)
Slide 39: Macro Trends
Macro Trends • Technology upgrade cycles across multiple platforms • Pharma/biopharma’s shift from new chemical entities (NCEs) to new biological entities (NBEs) and biosimilars • Significant potential for our platforms in emerging markets • Relocation and decentralization of pharma’s infrastructure
Slide 40: Growth and Scale through Strategic Investment
Growth and Scale through Strategic Investment Investments Growth and Scale • Invested heavily in R&D for growth in • Outpaced the market with 13% revenue core platforms – LC, LC/MS CAGR FY06-FY12 • R&D investment as % of revenue was in • During this period operating profit % mid-double digits; decli
Slide 41: Growth and Developments in Software
Growth and Developments in Software Growing the business FY09-FY12 15% CAGR • Double-digit revenue CAGR (15%) • Growth in license and service business • Success in OpenLAB, BioInformatics Opportunities for continued growth • Move from workstations to networked solutions • Low-cost solutions needed f
Slide 42: Technology-Leading Life Science Portfolio
Technology-Leading Life Science Portfolio Powerful Separation Sophisticated Sample Prep Solutions Lab 901 Capillary Electrophoresis & 708-DS Dissolution Multiple Affinity 1200 Infinity LC Electrophoresis BioAnalyzer Apparatus Removal Kits Series HPLC SureSelect XT Target Bond Elut Sample HPLC-Chips
Slide 43: Technology-Leading Life Science Market Portfolio
Technology-Leading Life Science Market Portfolio Powerful Separation Sophisticated Sample Prep Solutions Lab 901 Capillary Electrophoresis & DNA, RNA and 708-DS Dissolution Multiple Affinity 1200 Infinity LC Electrophoresis BioAnalyzer Protein Apparatus Removal Kits Series Bioreagents HPLC SureSelec
Slide 44: Life Sciences - 6000 Series LCMS
Life Sciences - 6000 Series LCMS • LCMS FY09 – FY12 CAGR 14% • Strong gross margin improvement • Broadest product family 14% CAGR • Strong position in key triple quad market • Highest sensitivity • Leveraging EMG expertise: • RF modulation • Analog-to-Digital converters • Most accurate TOF (Time of
Slide 45: Repairing Research Products – NMR, MRI
Repairing Research Products – NMR, MRI Research Products—a work in progress Actions to date • Transferred manufacturing out of U.S • Invested in support and services to address customer issues • Introduced new consoles • Developed & introduced new probes in Q1’13 Actions in FY13 • Exit OEM magnet bu
Slide 46: How We Will Win
How We Will Win • Take share in core markets—pure product play • Deliver a complete workflow solution for our customers—connecting the pieces of our portfolio • Outgrow the market—creating and taking advantage of greenfield opportunities • Expand coverage in emerging markets—staying ahead of the com
Slide 47: Guy Séné, Electronic Measurement Group
Agilent Technologies Guy Séné President, Electronic Measurement Group
Slide 48: Electronic Measurement Group Overview
Electronic Measurement Group Overview Market Size*: $13B Long Term Market Growth*: 3-4% 2012 EMG Revenue $3.3B 2012 Operating Margin 23% Markets & Market Position Revenue Mix Communications #1 by Geography Europe Industrial, Americas Computers, #1 Semiconductors Aerospace/Defense #1 Asia Pacific * M
Slide 49: Macro Trends
Macro Trends Communications • Mobile data traffic grows at high double-digit rates each year • Components and chipsets increase in complexity 17% of Agilent revenue* Industrial/Comp/Semi • Growth of aerospace & defense comes from outside US, driven by satellites and radar modernization • Electronic
Slide 50: Optimizing Customer Solutions
Optimizing Customer Solutions Expansion into new form factors driving growth PERFORMANCE Agilent is the high performance leader with benchtop instruments AGILENT’S COMPETITIVE ADVANTAGE IC technology Measurement science Global channels Worldwide support MOBILITY MODULARITY Portable packages for lab-
Slide 51: Market Leadership in RF/Microwave
Market Leadership in RF/Microwave Agilent is committed to its strong and unique position MARKET CORE PLATFORMS LEADERSHIP POSITION INCREMENTAL GROWTH POSITION Electronic Most comprehensive EDA Design Automation # 1 portfolio, including >15 releases of software in 2012 Expansion into high-speed digit
Slide 52: Becoming #1 in Oscilloscopes
Becoming #1 in Oscilloscopes Focused execution delivers sustained growth in $1.2B market Captured lead in high performance 2002 – 2011 Oscilloscope Market Growth Rates Undeniable product leadership via proprietary Agilent Source: Prime Data technology and deepest application expertise 15% 12% 13.5%
Slide 53: Modular Delivering New Growth
Modular Delivering New Growth Innovation from the measurement experts Modular is a fast-growing segment of the Agilent Growth in Modular EMG portfolio 155% CAGR Launched over 75 PXI and AXIe products in multiple categories since 2010 Partnering with industry leaders to accelerate offerings $500M opp
Slide 54: Delivering Growth in RF/Microwave Handhelds
Delivering Growth in RF/Microwave Handhelds Rapidly-growing market opportunity Agilent Growth in RF/Microwave Handhelds “Carry Precision With You” 42% CAGR Industry’s highest performing handhelds 14 new models in FY12 Leveraging captive IC fab technology, Agilent’s #1 position in RF sources and anal
Slide 55: How We Will Win
How We Will Win • Become #1 in oscilloscopes • Deliver new growth with modular and handhelds • Leverage measurement science across choice of platforms • Deliver to Agilent operating model through the cycle • Industry-leading sales and support with complementary direct and indirect channels EMG is a
Slide 56: Gooi Soon Chai, Agilent Order Fulfillment
Agilent Technologies Gooi Soon Chai President, Agilent Order Fulfillment
Slide 57: Agilent Order Fulfillment Excellence
Agilent Order Fulfillment Excellence Gross Margin Improvement Procurement Leveraging Value Engineering Supply Chain Streamlining Operational Excellence Technology & Engineering Supply Chain Excellence Technology Technology Building Blocks Quick Ramp to Customer Volume for New Satisfaction
Slide 58: Operational Excellence
Operational Excellence Value Engineering Reengineer products to improve cost Redesign and reduce components usage Materials engineering Procurement Leveraging Supply Chain Streamlining Capitalize on economies of scale Consolidate manufacturing sites Sourcing in Asia Optimize logistic n
Slide 59: Operational Excellence
Operational Excellence Supply Chain Streamlining Manufacturing Sites Colorado Springs Completed consolidation : 5 sites Little Falls Key Santa Rosa Consolidation In Progress : 7 sites Manufacturing Penang Established key manufacturing hubs Hubs Shanghai Singapore Waldbronn Logist
Slide 60: Technology & Engineering Excellence
Technology & Engineering Excellence Supply Chain Technology Specialized Technology Materials Leverage across a broad range of products Precision ASICS/MMICs Precision Optics Mechanicals Materials Engineering Value Engineering for Technology Building Blocks Cost Reduction Development Design f
Slide 61: Agilent Order Fulfillment Excellence Roadmap
Agilent Order Fulfillment Excellence Roadmap Supply Chain Streamlining (25%) Value Engineering (40%) Procurement Leveraging (35%) 2012 2013 2014 2015 $56 million $50 million $75 million cost savings incremental cost savings incremental cost savings CAG & LSG Gross Margin 1 point Gross Margin Improve
Slide 62: Q&A
Agilent Technologies Q&A Lars Holmkvist Mike McMullen Nick Roelofs Guy Séné Gooi Soon Chai DGG CAG LSG EMG OF
Slide 63: Closing Comments
Agilent Technologies Bill Sullivan Closing Comments Page 63
Slide 64: Appendix
Appendix Page 64
Slide 65: Focus Resources on Megatrends and Profitable Segments
Focus Resources on Megatrends and Profitable Segments % of Market Long Term Agilent Focus Agilent Size** Market Revenue* $54B Growth** Diagnostics & Clinical 4% $7B 8-10% Pharma & Biotech 14% $11B 4-6% Academic & Government Research 7% $10B 3-5% Chemical & Energy 13% $4B 4-6% Environmental & Forensi
Slide 66: Reconciliations
Reconciliations
Slide 67: Reconciliations of GAAP Revenue and Organic Revenue by Segment
AGILENT TECHNOLOGIES, INC. RECONCILIATIONS OF GAAP REVENUE AND ORGANIC REVENUE BY SEGMENT EXCLUDING THE IMPACT OF CURRENCY ADJUSTMENTS (In Millions) (Unaudited) PRELIMINARY Year-over-Year Currency (a) GAAP Adjustments Currency-Adjusted Year-over-Year Year-over-Year Revenue by Segment Q1'13 Q1'12 % C
Slide 68: Reconciliations of Non-GAAP Revenue and Organic Revenue by Segment FY2012
AGILENT TECHNOLOGIES, INC. RECONCILIATIONS OF NON-GAAP REVENUE AND ORGANIC REVENUE BY SEGMENT EXCLUDING THE IMPACT OF CURRENCY ADJUSTMENTS (In Millions) (Unaudited) PRELIMINARY Year-over-Year Currency (a) Non- GAAP Adjustments Currency-Adjusted Year-over-Year Year-over-Year Non- GAAP Revenue by Segm
Slide 69: Reconciliations of Non-GAAP Revenue and Organic Revenue by Segment FY2011
AGILENT TECHNOLOGIES, INC. RECONCILIATIONS OF NON-GAAP REVENUE AND ORGANIC REVENUE BY SEGMENT EXCLUDING THE IMPACT OF CURRENCY ADJUSTMENTS (In Millions) (Unaudited) PRELIMINARY Year-over-Year Currency (a) NON- GAAP Adjustments Currency-Adjusted Year-over-Year Year-over-Year Non- GAAP Revenue by Segm
Slide 70: Life Sciences Segment
AGILENT TECHNOLOGIES, INC. LIFE SCIENCES SEGMENT (Unaudited) PRELIMINARY (In millions, except margins and ROIC data) FY 2012 Q1 Q2 Q3 Q4 Total Orders $ 394 $ 410 $ 373 $ 417 $ 1,594 Net revenue $ 395 $ 395 $ 391 $ 401 $ 1,582 Gross margin % 50.9% 48.9% 50.5% 52.8% 50.8% Income from operations $ 58 $
Slide 71: Chemical Analysis Segment
AGILENT TECHNOLOGIES, INC. CHEMICAL ANALYSIS SEGMENT (Unaudited) PRELIMINARY (In millions, except margins and ROIC data) FY 2012 Q1 Q2 Q3 Q4 Total Orders $ 403 $ 408 $ 372 $ 421 $ 1,604 Net revenue $ 396 $ 388 $ 381 $ 394 $ 1,559 Gross margin % 51.7% 50.8% 50.1% 52.9% 51.4% Income from operations $
Slide 72: Electronic Measurement Segment
AGILENT TECHNOLOGIES, INC. ELECTRONIC MEASUREMENT SEGMENT (Unaudited) PRELIMINARY (In millions, except margins and ROIC data) FY 2012 Q1 Q2 Q3 Q4 Total Orders $ 757 $ 957 $ 811 $ 755 $ 3,280 Net revenue $ 778 $ 876 $ 845 $ 816 $ 3,315 Gross margin % 57.8% 57.0% 55.9% 57.1% 56.9% Income from operatio
Slide 73: Diagnostics and Genomics Segment
AGILENT TECHNOLOGIES, INC. DIAGNOSTICS AND GENOMICS SEGMENT (Unaudited) PRELIMINARY (In millions, except margins and ROIC data) FY 2012 Q1 Q2 Q3 Q4 Total Orders $ 69 $ 66 $ 106 $ 158 $ 399 Net revenue $ 66 $ 74 $ 106 $ 156 $ 402 Gross margin % 62.6% 65.3% 60.8% 63.4% 62.9% Income from operations $ 8
Slide 74: Reconciliation of ROIC
AGILENT TECHNOLOGIES, INC. RECONCILIATION OF ROIC (In millions) (Unaudited) PRELIMINARY Agilent Numerator: FY 12 Non-GAAP income from operations $ 1,384 Less: Taxes and Other (income)/expense 208 Agilent return 1,176 (a) Denominator: Segment assets (b) $ 7,056 Less: Net current liabilities (c) 1,208
Slide 75: Reconciliation of ROIC by Segment
AGILENT TECHNOLOGIES, INC. RECONCILIATION OF ROIC (In millions) (Unaudited) PRELIMINARY LSG CAG EMG DGG AGILENT LSG CAG EMG DGG Agilent LSG CAG EMG DGG AGILENT Numerator: Q1'13 Q1'13 Q1'13 Q1'13 Q1'13 Q1'12 Q1'12 Q1'12 Q1'12 Q1'12 Q4'12 Q4'12 Q4'12 Q4'12 Q4'12 Non-GAAP income from operations $ 61 $
Slide 76: Reconciliation from GAAP to Non-GAAP, Three Months Ended January 31, 2013
AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP THREE MONTHS ENDED JANUARY 31, 2013 (Unaudited) PRELIMINARY NON-GAAP ADJUSTMENTS Asset Acquisition & Impairments Intangible Transformational Integration Adjustment (In millions, except per share amounts) GAAP and write-downs Amortization
Slide 77: Reconciliation from GAAP to Non-GAAP, Year Ended October 31, 2012
AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP YEAR ENDED October 31, 2012 (Unaudited) PRELIMINARY NON-GAAP ADJUSTMENTS Acquisition & Agilent Asset Intangible Transformational Integration Foundation Adjustment (In millions, except per share amounts) GAAP Impairments Amortization Init
Slide 78: Reconciliation from GAAP to Non-GAAP, Year Ended October 31, 2011
AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP YEAR ENDED October 31, 2011 (Unaudited) PRELIMINARY NON-GAAP ADJUSTMENTS Restructuring Varian and Other Acquisition & Acquisition Agilent Related Costs- Asset Intangible Transformation Integration Fair Value Foundation Adjustment (In mil
Slide 79: Reconciliation from GAAP to Non-GAAP, Twelve Months Ended October 31, 2010
AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP TWELVE MONTHS ENDED October 31, 2010 (Unaudited) Non-GAAP Adjustments Varian Acceleration of Varian Acquisition Share-Based Restructuring Acquisition & Related Fair Compensation Tax and Other Related Asset Intangible Transformational Lit
Slide 80: Reconciliation from GAAP to Non-GAAP, Twelve Months Ended October 31, 2009
AGILENT TECHNOLOGIES, INC RECONCILIATION FROM GAAP TO NON-GAAP TWELVE MONTHS ENDED OCTOBER 31, 2009 (Unaudited) Non-GAAP Adjustments Acceleration of Share-Based Restructuring Compensation Patent and Other Asset Business Expense Related to Intangible Pension Litigation Litigation Adjustment for (In m
Slide 81: Reconciliation of Organic Revenue Excluding Currency Adjustments
AGILENT TECHNOLOGIES, INC. RECONCILIATION OF ORGANIC REVENUE EXCLUDING THE IMPACT OF CURRENCY ADJUSTMENTS (In Millions) (Unaudited) PRELIMINARY Fiscal Year Percent Fiscal Year Percent Fiscal Year Percent Fiscal Year Percent 2012 2011 Inc/(Dec) 2011 2010 Inc/(Dec) 2010 2009 Inc/(Dec) 2009 2008 Inc/(D
Slide 82: Reconciliation of Incremental Revenue Dollar to Bottom Line
AGILENT TECHNOLOGIES, INC. RECONCILIATION OF INCREMENTAL REVENUE DOLLAR TO BOTTOM LINE (IN MILLIONS) PRELIMINARY Year over Year FY 2012 FY 2011 $ Change Incremental AGILENT GAAP Revenue $ 6,858 $ 6,615 $ 243 Income from Operations $ 1,384 $ 1,310 $ 74 30% . AGILENT Non-GAAP Revenue $ 6,858 $ 6,626 $