Keysight Technologies (KEYS.N) reported better-than-expected fourth-quarter profit on Monday, as the company continued to benefit from strong demand in sectors such as aerospace and defense. The company provides electronic design and test products for use in several industries, including aerospace and defense. Specifically, these products are used in electromagnetic spectrum operations, radar, signal monitoring, and space and satellite applications.
Revenue from aerospace, defense, and government segments saw a 4% increase, which the company attributed to investments in defense technology modernization, electromagnetic spectrum operations, radar, and space and satellite. Keysight’s adjusted earnings per share for the quarter through October were reported at $1.99, surpassing analysts’ average estimate of $1.87 per share.
Despite this positive news, the company is facing challenges related to supply chain constraints and high raw material costs. As a result, Keysight forecast an adjusted profit ranging from $1.53 to $1.59 per share for its first quarter of 2024