Agilent Technologies reported revenue of $1.66 billion for the fourth quarter ended Oct. 31, 2021, up 12% year over year (growth of 11%). Revenue for the full year was $6.32 billion, delivering 18% reported growth of 15%), up a record $980 million above that of fiscal year 2020.

On a GAAP basis, fourth-quarter net income was $442 million, or $1.45 per share. This compares with $222 million, or 71 cents per share, in the fourth quarter of fiscal year 2020. Non-GAAP net income was $368 million, or $1.21 per share during the quarter, compared with $305 million or 98 cents per share during the fourth quarter a year ago.

For the full year, GAAP net income was $1.21 billion or $3.94 per share, up 71% from fiscal year 2020. Non-GAAP net income was $1.33 billion or $4.34 per share, up 32% from fiscal year 2020.

“Our strong fourth quarter closes out a record top- and bottom-line performance in fiscal year 2021,” said Mike McMullen, Agilent president and CEO. “We continue to see strong momentum in our business and look forward to the Agilent team extending it into the year ahead.”

Life Sciences and Applied Markets Group

Fourth-quarter revenue of $747 million from Agilent’s Life Sciences and Applied Markets Group (LSAG) grew a reported 11% year over year (also an increase of 11% on a core(1) basis). LSAG’s operating margin for the quarter was 26.6%. Full-year revenue of $2.82 billion increased a reported 18% versus fiscal 2020 (up 16% on a core basis). LSAG’s operating margin for the full year was 25.6%.

Agilent CrossLab Group

The Agilent CrossLab Group (ACG) posted fourth-quarter revenue of $572 million, representing year-over-year reported growth of 10% (up 9% on a corebasis). AC G’s operating margin for the quarter was 29.9%. Full-year revenue of $2.20 billion grew a reported 16% over last year (up 12% on a core(1) basis). ACG’s operating margin for the year was 28.1%. 

Diagnostics and Genomics Group

The Diagnostics and Genomics Group (DGG) generated fourth-quarter revenue of $341 million, up a reported 16% year over year (up 13% on a core(1) basis). DGG posted operating margins of 20.8%. Full-year revenue was $1.30 billion, which was up a reported 24% year over year (up 20% on a core(1) basis). DGG’s operating margin for the year was 21.0%.

Fiscal Year 2022 and First-Quarter Outlook

Fiscal year 2022 revenue is expected to be in the range of $6.65 billion to $6.73 billion, representing reported growth of 5.2% to 6.5% and core growth of 5.5% to 7%. Non-GAAP earnings-per-share guidance for fiscal year 2022 is in the range of $4.76 to $4.86 per share.

The outlook for fiscal 2022 first-quarter revenue is expected to be in a range of $1.64 billion to $1.66 billion, representing reported and core growth of 5.9% to 7.2%. Fiscal first-quarter non-GAAPearnings guidance is in a range of $1.16 to $1.18 per share