Agilent Technologies
You can tell by Agilent's third-quarter results: sales shot up by 31% year-over-year to $1.38 billion, or 24% if you remove the effects of acquisitions and discontinued businesses. That's the billed revenue: Incoming orders are growing even faster at a 39% clip and the all-important book-to-bill ratio stands well north of the neutral 1.0 mark. With business so brisk, it's no wonder that non-GAAP earnings more than tripled from $0.15 per share to $0.54 per share.
Among the division-shuffling moves, Agilent closed the sale of its network-testing unit to JDS Uniphase
With this new, rebalanced structure, Agilent is less of a competitor to JDS Uniphase and Keithley Systems
Should the shopping spree continue with borrowed funds, or should Agilent say that enough is enough? I think this business mix is about the right blend of proven profitability and forward-looking opportunity, but feel free to air your opinions in the comments below.