Keysight Technologies Reports Fourth Quarter 2020 Results – Web Hosting | Cloud Computing | Datacenter

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Achieved Record Orders, Revenue, Gross Margin, Operating Margin, Free Cash Flow

Announces $750 Million Share Repurchase Program

SANTA ROSA, Calif.–(BUSINESS WIRE)–$KEYS #earnings–Keysight Technologies, Inc. (NYSE: KEYS) today reported financial results for the fourth fiscal quarter of 2020 ended October 31, 2020.

“Keysight delivered an outstanding quarter and finish to our fiscal year, driven by strong execution and broad-based demand for our differentiated solutions. Despite COVID-related macro challenges, it was a record year for orders, gross margin, operating margin, earnings per share and free cash flow,” said Ron Nersesian, Keysight’s Chairman, President and CEO. “Our people and culture are a competitive differentiator and, in the face of unprecedented challenges, Keysight exits this year stronger than ever, and well-positioned to capitalize on our growth opportunities ahead.”

Fourth Quarter Financial Summary

Revenue grew 9 percent to reach $1.22 billion, when compared with $1.12 billion last year. Non-GAAP revenue grew 7 percent on a core basis, which excludes the impact of foreign currency changes and revenue associated with businesses acquired or divested within the last twelve months.

GAAP net income was $217 million, or $1.15 per share, compared with $195 million, or $1.02 per share, in the fourth quarter of 2019.

Non-GAAP net income was $305 million, or $1.62 per share, compared with $254 million, or $1.33 …

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