Keysight Technologies Inc (NYSE:KEYS) stock rose 0.36% (As on Nov 23, 11:45:25 AM UTC-4, Source: Google Finance) after the company’s bottom line came in at $282 million the fourth quarter of FY 21 compared with $217 million, in last year’s fourth quarter. Orders grew 21 percent to reach $1.49 billion, compared with $1.23 billion last year. Cash flow from operations was $368 million, compared with $338 million last year. Free cash flow was $295 million, compared with $308 million in the fourth quarter of 2020. Keysight acquired approximately 2.1 million shares in the open market at an average share price of $171.12, for a total consideration of $353 million. As of October 31, 2021, cash and cash equivalents totaled $2.05 billion.
Moreover, Communications Solutions Group (CSG) reported revenue of $919 million in the fourth quarter, up 2 percent over last year, driven by strength across the 5G and aerospace, defense and government ecosystems, as well as investment in 400G and 800G R&D. Electronic Industrial Solutions Group (EISG) reported revenue of $375 million in the fourth quarter, up 18 percent over last year, driven by semiconductor measurement solutions and next-generation automotive and energy technologies, with growth across all regions.
KEYS in the fourth quarter of FY 21 has reported the adjusted earnings per share of $1.82, beating the analysts’ estimates for the adjusted earnings per share of $1.64. The company had reported the adjusted revenue growth of 5.7 percent to $1.29 billion in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $1.28 billion.
Additionally, the company has authorized a new share repurchase program for up to $1.2 billion of its common stock. The new repurchase program is effective immediately and replaces the previously authorized $750 million program from 2020 of which $77 million remained.
For the current quarter ending in February, Keysight expects its per-share earnings to range from $1.50 to $1.56. The company expects revenue to be in the range of $1.23 billion to $1.25 billion for the fiscal first quarter.
On the other hand, the company has recently announced new automotive serializer/deserializer (SerDes) transmit and channel test applications, as well as an automotive adapter portfolio to verify mobile industry processor interface (MIPI) A-PHY and Automotive SerDes Alliance (ASA) standards. These solutions were developed in collaboration with Sony Semiconductor Solutions Corporation and Rosenberger.