Sonoma County-based Keysight Technologies on Wednesday reported a rise in both quarterly sales and orders, with revenues rising 16 percent to $832 million.
Keysight highlighted efforts to increase its testing and measurement business with those companies seeking to use coming 5G technology, touted as a faster way to transmit cellular data, for mobile phones and other devices. Other opportunities include new generations of automobiles and products tied to the “Internet of Things.”
“We are pleased with the momentum we are building in the market with new and existing customers developing leading-edge technologies such as 5G, next-gen Wi-Fi, high-speed data centers, and automotive and energy,” Keysight President and CEO Ron Nersesian said in a statement.
Nersesian said in a conference call with analysts that the company had gotten an earlier start in 5G compared to 4G and “we believe we are outpacing our competitors.” The result, he said, was the “doubling of our business” last quarter in that segment.
Keysight, the world’s largest electronics measurement company, employs about 1,300 at its Santa Rosa headquarters.
The company reported a net loss of $18 million, or 10 cents a share, for its fiscal third quarter ending July 31. When such factors as this year’s acquisition of data tech business Ixia were excluded, net income was 61 cents per share, or above guidance the company had provided to investors.
Orders grew 24 percent from a year earlier to $879 million, or 8 percent for its “core business,” excluding the Ixia acquisition.
In the conference call, Nersesian noted that Keysight was increasing its involvement in the automotive segment, where significant opportunities exist in electric vehicles and in coming autonomous cars that will require multiple sensors, high-powered computing and artificial intelligence.
He noted aerospace and defense spending had temporarily declined, but said the company was “very bullish” on the sector’s long-term prospects.
“We see the environment in the world becoming more hostile,” Nersesian said.
For the previous nine months, Keysight reported net income of 78 cents a share, compared to $1.41 a share a year earlier.
You can reach Staff Writer Robert Digitale at 707-521-5285 or email@example.com. On Twitter @rdigit.
This story originally appeared in the Press Democrat