Keysight net income was $97M for 1Q, revenue up 15%

Ron Nersesian, Keysight Technologies CEO (James Dunn / Business Journal)

JAMES DUNN,

Keysight Technologies reported first-quarter revenue of $856 million, up nearly 15 percent from the same quarter a year ago. Though the company’s headquarters were overrun with wildfire in October, not a single order was canceled as a result, according to CEO Ron Nersesian.

After the fires, Keysight had to move most of its employees to temporary offices in Rohnert Park while the buildings were being cleaned of smoke damage. The main four buildings on the Santa Rosa campus survived. Return to the campus by the displaced employees could be as early as mid-year. Out of nearly 1,100 Keysight employees in its Santa Rosa facilities, 119 lost their homes.

The company concentrated on reviving production at the Fountaingrove site. Though it is only five months since the fires, production now exceeds where it was pre-fire, Nersesian said. The company’s hundreds of manufacturing machines suffered minimal damage.

Net income for the quarter was $97 million, or 51 cents a share. In the same quarter of 2017, the company had net income of $98 million or 57 cents a share.

For all of 2017, Keysight had revenue of $3.2 billion.

In 2017, Keysight acquired Ixia, a California technology company, in a deal valued at $1.6 billion. The acquisition closed in April last year. In 2016, Ixia had total revenue of nearly $500 million.

Ixia has a broad IP (Internet protocol) portfolio that includes network communications, network visibility, and application and security software, Keysight said in describing what made the deal attractive. Ixia has extensive networking and wireless protocols that will boost Keysight’s position especially in emerging 5G (fifth generation) communications, expected for early rollout this year.

James Dunn covers technology, biotech, law, the food industry, and banking and finance. Reach him at: james.dunn@busjrnl.com or 707-521-4257