Keysight Technologies Reports Fourth Quarter and Fiscal Year 2022 Results – Business Wire
Achieved Record Quarter and Full Year Orders and Revenue
SANTA ROSA, Calif.–(BUSINESS WIRE)–Keysight Technologies, Inc. (NYSE: KEYS) today reported financial results for the fourth fiscal quarter and fiscal year ended October 31, 2022.
“Keysight’s exceptional fourth quarter performance capped off an outstanding record year. Strong execution by our teams again delivered results ahead of expectations, while navigating supply, geopolitical, and macro dynamics,” said Satish Dhanasekaran, Keysight’s President and CEO. “We achieved record orders in the quarter and fiscal year, which underscored broad-based demand for Keysight’s high-value, differentiated solutions. Despite an uncertain macro environment, we remain confident in the resilience of our business, and the long-term secular growth trends across our markets.”
Fourth Quarter Financial Summary
Fiscal Year 2022 Financial Summary
Reporting Segments
CSG reported revenue of $992 million in the fourth quarter, up 8 percent over last year, driven by 5G platform strength, continued O-RAN adoption, and investment in 800G and 1.6 Terabit R&D, as well as spectrum operations, cybersecurity, space, and satellite solutions. CSG reported growth across all regions.
EISG reported revenue of $451 million in the fourth quarter, up 20 percent over last year, driven by next-generation automotive and energy technologies, general electronics, and semiconductor solutions. EISG reported growth across all regions.
Outlook
Keysight’s first fiscal quarter of 2023 revenue is expected to be in the range of $1.36 billion to $1.38 billion. Non-GAAP earnings per share for the first fiscal quarter of 2023 are expected to be in the range of $1.81 to $1.87. Certain items impacting the GAAP tax rate pertain to future events and are not currently estimable with a reasonable degree of accuracy; therefore, no reconciliation of GAAP earnings per share to non-GAAP has been provided. Further information is discussed in the section titled “Use of Non-GAAP Financial Measures” below.
Webcast
Keysight’s management will present more details about its fourth quarter and fiscal year 2022 financial results and its first quarter FY2023 outlook on a conference call with investors today at 2:00 p.m. PT. This event will be webcast in listen-only mode. Listeners may log on to the call at www.investor.keysight.com under the “Upcoming Events” section and select “Q4 2022 Keysight Technologies Inc. Earnings Conference Call” to participate or dial +1 844-200 6205 (U.S. only) or +1 929-526-1599 (International) and enter passcode 058276. The webcast will remain on the company site for 90 days.
Forward-Looking Statements
This communication contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The words “expect,” “intend,” “will,” “should,” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could significantly affect the expected results and are based on certain key assumptions of Keysight’s management and on currently available information. Due to such uncertainties and risks, no assurances can be given that such expectations or assumptions will prove to have been correct, and readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Keysight undertakes no responsibility to publicly update or revise any forward-looking statement. The forward-looking statements contained herein include, but are not limited to, predictions, future guidance, projections, beliefs, and expectations about the company’s goals, revenues, financial condition, earnings, and operations that involve risks and uncertainties that could cause Keysight’s results to differ materially from management’s current expectations. Such risks and uncertainties include, but are not limited to, impacts of supply chain constraints; impacts of geopolitical tension and conflict; export control regulations and compliance; net zero emissions commitments; our ability to retain key personnel; changes in the demand for current and new products, technologies, and services; customer purchasing decisions and timing; and order cancellations.
In addition to the risks above, other risks that Keysight faces include those detailed in Keysight’s filings with the Securities and Exchange Commission on Keysight’s yearly report on Form 10-K for the period ended October 31, 2021, and Keysight’s quarterly report on Form 10-Q for the period ended July 31, 2022.
Segment Data
Segment data reflects the results of our reportable segments under our management reporting system. Segment data are provided on page 6 of the attached tables.
Use of Non-GAAP Financial Measures
In addition to financial information prepared in accordance with U.S. GAAP (“GAAP”), this document also contains certain non-GAAP financial measures based on management’s view of performance, including:
Income per share is based on weighted average diluted share count. See the attached supplemental schedules for reconciliations of each non-GAAP financial measure to its most directly comparable GAAP financial measure for the three months ended October 31, 2022 and fiscal year 2022. Following the reconciliations is a discussion of the items adjusted from our non-GAAP financial measures and the company’s reasons for including or excluding certain categories of income or expenses from our non-GAAP results.
About Keysight Technologies
Keysight delivers advanced design and validation solutions that help accelerate innovation to connect and secure the world. Keysight’s dedication to speed and precision extends to software-driven insights and analytics that bring tomorrow’s technology products to market faster across the development lifecycle, in design simulation, prototype validation, automated software testing, manufacturing analysis, and network performance optimization and visibility in enterprise, service provider and cloud environments. Our customers span the worldwide communications and industrial ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics markets. Keysight generated revenues of $5.4B in fiscal year 2022. For more information about Keysight Technologies (NYSE: KEYS), visit us at www.keysight.com.
Additional information about Keysight Technologies is available in the newsroom at www.keysight.com/go/news and on Facebook, LinkedIn, Twitter and YouTube.
Source: IR-KEYS
2022
2021
$
1,570
$
1,491
5
%
$
1,443
$
1,294
11
%
533
457
17
%
215
196
10
%
321
295
8
%
(5
)
(3
)
79
%
1,064
945
12
%
379
349
9
%
10
1
1817
%
(20
)
(20
)
(1
)%
(1
)
7
–
368
337
9
%
69
55
25
%
$
299
$
282
6
%
$
1.67
$
1.54
$
1.66
$
1.52
179
183
180
186
2022
2021
$
5,984
$
5,356
12
%
$
5,420
$
4,941
10
%
1,970
1,872
5
%
841
811
4
%
1,283
1,195
7
%
(8
)
(17
)
(53
)%
4,086
3,861
6
%
1,334
1,080
24
%
16
3
676
%
(79
)
(79
)
–
14
6
105
%
1,285
1,010
27
%
161
116
39
%
$
1,124
$
894
26
%
$
6.23
$
4.84
$
6.18
$
4.78
180
185
182
187
2022
2021
$
2,042
$
2,052
905
735
858
777
429
270
4,234
3,834
690
650
220
227
1,582
1,628
189
272
62
70
667
711
454
389
$
8,098
$
7,781
$
348
$
287
333
355
495
478
96
74
39
41
96
74
1,407
1,309
1,793
1,791
58
167
197
187
186
191
296
352
3,937
3,997
—
—
2
2
(2,274
)
(1,425
)
2,333
2,219
4,554
3,430
(454
)
(442
)
4,161
3,784
$
8,098
$
7,781
2022
2021
$
1,124
$
894
117
117
106
176
125
103
7
(53
)
27
27
—
16
31
—
11
6
(204
)
(122
)
(125
)
(43
)
56
53
(17
)
50
79
96
(14
)
34
(19
)
7
(160
)
(39
)
1,144
1,322
(185
)
(174
)
(33
)
(178
)
(33
)
(1
)
(251
)
(353
)
63
59
(74
)
(53
)
(849
)
(673
)
(1
)
(4
)
(861
)
(671
)
(43
)
3
(11
)
301
2,068
1,767
$
2,057
$
2,068
$
75
$
75
$
191
$
130
$
1,443
$
1,294
11
%
$
5,420
$
4,941
10
%
(3
)
—
(11
)
—
51
—
116
—
$
1,491
$
1,294
15
%
$
5,525
$
4,941
12
%
$
992
$
919
8
%
66%
66%
$
289
$
262
29%
28%
$
451
$
375
20
%
60%
66%
$
142
$
135
32%
36%
2022
2021
2022
2021
$
299
$
1.66
$
282
$
1.52
$
1,124
$
6.18
$
894
$
4.78
25
0.14
27
0.14
103
0.57
174
0.93
23
0.13
20
0.11
126
0.69
104
0.56
2
0.01
1
0.01
9
0.05
9
0.05
20
0.12
(1
)
(0.01
)
54
0.30
26
0.14
17
0.08
9
0.05
(28
)
(0.16
)
(43
)
(0.23
)
$
386
$
2.14
$
338
$
1.82
$
1,388
$
7.63
$
1,164
$
6.23
180
186
182
187
2022
2021
2022
2021
$
398
$
368
$
1,144
$
1,322
(58
)
(73
)
(185
)
(174
)
$
340
$
295
$
959
$
1,148
EDITORIAL CONTACT:
Andrea Mueller
+1 408-218-4754
andrea.mueller@keysight.com
INVESTOR CONTACT:
Jason Kary
+1 707-577-6916
jason.kary@keysight.com
Keysight Technologies Reports Fourth Quarter and Fiscal Year 2022 Results
EDITORIAL CONTACT:
Andrea Mueller
+1 408-218-4754
andrea.mueller@keysight.com
INVESTOR CONTACT:
Jason Kary
+1 707-577-6916
jason.kary@keysight.com