Agilent reported revenues for the third fiscal quarter ended July 31, 2005 of $1.69 billion, 10 percent below last year. Third quarter GAAP net earnings were $104 million, compared with $100 million in last year's third quarter.

Test and Measurement

Revenues of $705 million were 8 percent below last year and down 6 percent from the prior three months. Third quarter operating profits of $72 million were $17 million below last year on $58 million lower revenues. Compared with the second quarter, segment profits were flat despite $43 million lower revenues.

Automated Test

Third quarter Automated Test revenues of $192 million were 21 percent below last year but up 6 percent sequentially. The third quarter segment loss of $13 million represents an improvement of $7 million compared with the second quarter on an $11 million increase in revenues.

Semiconductor Products

Semiconductor Products revenues of $450 million were 2 percent below last year but up 9 percent sequentially. Segment profits of $39 million were $2 million below last year on an $8 million drop in revenues. Sequentially, profits were up $27 million on a $36 million increase in revenues.

Yesterday Agilent announced agreements to sell the Semiconductor Products segment and its stake in Lumileds. The company plans to spin off its SOC and Memory Test businesses as soon as practical in 2006.