Keysight Technologies(KEYS) - 2025 Q1 - Quarterly Results

Revenue Performance - Revenue for Q1 2025 was $1.30 billion, a 3.1% increase from $1.26 billion in Q1 2024[6] - Total revenue for Q1 2025 was $1,298 million, representing a 3% increase from $1,259 million in Q1 2024[31] - The Communications Solutions Group (CSG) reported revenue of $883 million, a 5% increase year-over-year[4] - Revenue from the Communications Solutions Group rose by 5% to $883 million in Q1 2025, while the Electronic Industrial Solutions Group saw a 1% decline to $415 million[24][25] - The Electronic Industrial Solutions Group (EISG) reported revenue of $415 million, a 1% decrease year-over-year[4] - Revenue from Aerospace, Defense and Government increased by 5% to $311 million in Q1 2025[30] Income and Earnings - GAAP net income for Q1 2025 was $169 million, or $0.97 per share, compared to $172 million, or $0.98 per share in Q1 2024[6] - Non-GAAP net income for Q1 2025 was $317 million, or $1.82 per share, up from $286 million, or $1.63 per share in Q1 2024[6] - GAAP net income for Q1 2025 was $169 million, with diluted EPS of $0.97, compared to $172 million and $0.98 in Q1 2024[21] - Non-GAAP net income increased to $317 million in Q1 2025, with diluted EPS of $1.82, up from $286 million and $1.63 in Q1 2024[21] Cash Flow and Liquidity - Cash flow from operations was $378 million, an increase from $328 million in the same period last year[6] - Free cash flow for Q1 2025 was $346 million, an increase from $281 million in Q1 2024[28] - As of January 31, 2025, cash and cash equivalents totaled $2.06 billion, up from $1.80 billion at the end of Q4 2024[6] Assets and Liabilities - Total assets increased to $9.39 billion from $9.27 billion at the end of Q4 2024[17] - Total liabilities rose to $4.20 billion from $4.16 billion at the end of Q4 2024[17] Margins and Tax Rate - The effective non-GAAP tax rate was 14% for Q1 2025, down from 17% in Q1 2024[21] - The gross margin for the Communications Solutions Group remained stable at 68% for both Q1 2025 and Q1 2024[24] - Operating margin for the Electronic Industrial Solutions Group decreased to 27% in Q1 2025 from 31% in Q1 2024[25] Future Projections - For Q2 2025, revenue is expected to be between $1.27 billion and $1.29 billion, with non-GAAP earnings per share projected between $1.61 and $1.67[5] Non-GAAP Financial Measures - The company emphasizes the use of non-GAAP financial measures to provide a clearer view of operational performance, excluding certain non-recurring items[33]