SANTA CLARA, Calif. -- Agilent Technologies, Inc. (NYSE: A) has been named 2010 Company of the Year by Instrument Business Outlook. The newsletter, published by analyst firm Strategic Directions International, Inc., covers the scientific instrument industry.
Agilent was singled out in the Jan. 15 issue based on 'financial performance, market leadership, product introductions and key strategic investments.'
'2010 was a significant year for Agilent as we kept customer satisfaction a top priority while driving the Varian integration,' said Mike McMullen, president, Agilent Chemical Analysis Group. 'The acquisition expanded our product portfolio with strategic additions like atomic spectroscopy systems and vacuum technologies. It was one more example of how we've been steadfastly committed to our vision through the economic downturn and are emerging stronger than ever as the economy recovers. IBO's recognition of these achievements is a rewarding finish to a banner year.'
The publication pointed out that Agilent's Chemical Analysis Group had 2010 revenue growth of 73 percent over the previous year 'mostly because of Agilent's acquisition of Varian' and cited organic growth up 'a remarkable 17 percent.' The article also noted that the company's Life Sciences Group had revenue growth of 35 percent over fiscal 2009, including the Varian acquisition, and organic growth of 17 percent. In Agilent's third business, the Electronic Measurement Group, revenue grew 24 percent.
'It's great to achieve this distinction from this credible industry observer,' said Nick Roelofs, Ph.D., president, Agilent Life Sciences Group. 'Agilent is laser-focused on retaining customer trust, increasing market reach, expanding the scale and scope of our offerings and investing in technology leadership. This has enabled us to gain market share faster than many of our competitors and consistently achieve the industry's highest customer-satisfaction ratings.'
In life sciences, the article said, 'particularly strong results were evident in academic and government markets, as well as for pharma and biotech, much of which is attributable to success with the new LC and LC/MS products and the genomics product lines.'
'But what really made Agilent special in 2010 was its acquisition of Varian,' the article continued. 'Although most companies take a year or more to fully integrate major acquisitions, Agilent did it in six months. Profits were up for existing Agilent products as well as for Varian products, which was an achievement given the uncertainties of such a long period between announcement and closure.'
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is the world's premier measurement company and a technology leader in chemical analysis, life sciences, electronics and communications. The company's 18,500 employees serve customers in more than 100 countries. Agilent had net revenues of $5.4 billion in fiscal 2010. Information about Agilent is available at www.agilent.com.