Agilent Technologies Named 2017 Company of the Year by IBO
Each year in their annual forecast issue, Instrument Business Outlook (IBO) chooses a company of the year. IBO is the leading newsletter tracking trends and developments in the analytical and life science instrumentation, and laboratory products markets. The company chosen is one whose performance financially and operationally, and development of technology in the previous year, distinguishes it among industry participants and indicates strong fundamentals, as well as an enviable position in the lab instrument and product market.
IBO’s 2017 company of the year is Agilent Technologies. For the fiscal year ending October 31, 2017, Agilent’s revenues grew 6.4% to $4,472 million, operating profit skyrocketed 36.7% to $841 million and net income jumped 48.1% to $684 million, surpassing fiscal 2016’s growth rates in all three metrics.
“Agilent has grown sales since fiscal 2015 while keeping costs constant,” said Tanya Samazan, Managing Editor of IBO. “The company’s fiscal 2017 revenue growth was its fastest since fiscal 2010.”
Last fiscal year’s results were also the culmination of a series of investments and strategic decisions under new CEO Mike McMullen (see IBO 9/30/14). These included 2014’s formation of the CrossLab Group, a dedicated consumables and service segment (see IBO 11/30/14).
“Agilent’s new investments have also paid off,” explained Samazan. “Changes include an expansion of Agilent’s diagnostics business, entry into new markets such as cell analysis and Raman spectroscopy, and additions to successful franchises in NGS sample preparation and LC/MS, among other key product launches.”
IBO‘s annual Company of the Year award is featured in the publication’s 2018 Industry Forecast Issue, now available for purchase. The 36-page Forecast Issue highlights trends and projects expected growth in 10 major segments of the life science, analytical instrument and consumables markets, as well as an analysis of regional and end-market developments.
ABOUT IBO and SDi
Instrument Business Outlook (IBO) provides expert insights, commentary and analysis of the news, trends and developments impacting the life science, analytical instrument and consumables markets. A twice-monthly subscription-based newsletter, IBO is a publication of SDi, a division of BioInformatics LLC. SDi offers custom market research and consulting, and strategic advisory services in the areas of M&A support, opportunity analysis, end-user surveys, and situation analysis, as well as licensing, joint venture, and distribution for top, mid-tier and startup companies. IBO and SDi’s data analyses and solutions are used by corporate executives, business development personnel, equity and financial analysts, regulatory agencies, technology developers and the scientific/analytical instrument community in the United States and internationally.
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