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Agilent Technologies Reports Third-Quarter Fiscal Year 2018 Financial Results

Agilent Technologies, Inc. (NYSE: A) today reported revenue of $1.20 billion for the third quarter ended July 31, 2018, up 8 percent year over year (up 6 percent on a core basis(1)).

Third-quarter GAAP net income was $236 million, or $0.73 per share. Last year’s third-quarter GAAP net income was $175 million, or $0.54 per share.

During the third quarter, Agilent had intangible amortization of $26 million, acquisition and integration costs of $7 million, transformational initiatives of $4 million, business exit and divestitures of $1 million, $20 million of step-up gain on our initial Lasergen investment, and $5 million in other costs. Excluding these items and a tax benefit of $42 million, Agilent reported third-quarter non-GAAP net income of $217 million, or $0.67 per share(2), up 14 percent year over year.

“The Agilent team continues to capitalize on healthy end markets and delivered another strong quarter,” said Mike McMullen, Agilent CEO and president. “Both earnings and revenue growth, led by China and the global pharma and chemical & energy end markets, exceeded expectations. In addition, we achieved our 14th consecutive quarter of improving our year-over-year core operating margins.”

“We put our strong balance sheet to work creating value for shareholders and customers,” McMullen continued. “We repurchased $243 million in shares, paid $48 million in dividends, and invested $430 million in M&A.”

Financial Highlights

Third-quarter revenue of $540 million from Agilent’s Life Sciences and Applied Markets Group (LSAG) grew 6 percent year over year (up 5 percent on a core basis(1)) with strength in the chemical & energy and pharma end markets. LSAG’s operating margin for the quarter was 22.9 percent.

Third-quarter revenue of $426 million from the Agilent CrossLab Group (ACG) grew 10 percent year over year (up 8 percent on a core basis(1)). Both services and consumables saw strong growth across all end markets and geographies. ACG’s operating margin for the quarter was 23.8 percent.

Third-quarter revenue of $237 million from Agilent’s Diagnostics and Genomics Group (DGG) grew 9 percent year over year (up 5 percent on a core basis(1)). Strength in genomics and China led the results. DGG’s operating margin for the quarter was 18.5 percent.

Agilent expects fourth-quarter 2018 revenue in the range of $1.24 billion to $1.26 billion. Fourth-quarter 2018 non-GAAP earnings are expected to be in the range of $0.72 to $0.74 per share(3).

For fiscal year 2018, Agilent expects revenue of $4.86 billion to $4.88 billion and non-GAAP earnings of $2.69 to $2.71 per share(3). The guidance is based on July 31, 2018 currency exchange rates.

Conference Call

Agilent’s management will present more details about its third-quarter fiscal 2018 financial results on a conference call with investors today at 1:30 p.m. (Pacific Time). This event will be webcast live in listen-only mode. Listeners may log on at www.investor.agilent.com and select “Q3 2018 Agilent Technologies Inc. Earnings Conference Call” in the “News & Events – Calendar of Events” section. The webcast will remain available on the company’s website for 90 days.

Additional information regarding financial results can be found at www.investor.agilent.com by selecting “Financial Results” in the “Financial Information” section.

A telephone replay of the conference call will be available at approximately August 14, 2018 at 4:30PM (Pacific Time) after the call and through August 22 by dialing +1 855-859-2056 (or +1 404-537-3406 from outside the United States) and entering pass code 3179138.

About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is a global leader in life sciences, diagnostics and applied chemical markets. With more than 50 years of insight and innovation, Agilent instruments, software, services, solutions and people provide trusted answers to its customers’ most challenging questions. The company generated revenues of $4.47 billion in fiscal 2017 and employs 14,500 people worldwide. Information about Agilent is available at www.agilent.com.

Forward-Looking Statements

This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding Agilent’s future revenue, earnings and profitability; planned new products; market trends; the future demand for the company’s products and services; customer expectations; and revenue and non-GAAP earnings guidance for the fourth quarter and full fiscal year 2018. These forward-looking statements involve risks and uncertainties that could cause Agilent’s results to differ materially from management’s current expectations. Such risks and uncertainties include, but are not limited to, unforeseen changes in the strength of our customers’ businesses; unforeseen changes in the demand for current and new products, technologies, and services; unforeseen changes in the currency markets; customer purchasing decisions and timing, and the risk that we are not able to realize the savings expected from integration and restructuring activities. In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; the ability to meet and achieve the benefits of its cost-reduction goals and otherwise successfully adapt its cost structures to continuing changes in business conditions; ongoing competitive, pricing and gross-margin pressures; the risk that our cost-cutting initiatives will impair our ability to develop products and remain competitive and to operate effectively; the impact of geopolitical uncertainties and global economic conditions on our operations, our markets and our ability to conduct business; the ability to improve asset performance to adapt to changes in demand; the ability of our supply chain to adapt to changes in demand; the ability to successfully introduce new products at the right time, price and mix; the ability of Agilent to successfully integrate recent acquisitions; the ability of Agilent to successfully comply with certain complex regulations; and other risks detailed in Agilent’s filings with the Securities and Exchange Commission, including our quarterly report on Form 10-Q for the fiscal quarter ended April 30, 2018. Forward-looking statements are based on the beliefs and assumptions of Agilent’s management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.

(1) Core revenue growth excludes the impact of currency and acquisitions and divestitures within the past 12 months. Core revenue is a non-GAAP measure. A reconciliation between Q3 FY18 GAAP revenue and core revenue is set forth on page 8 of the attached tables along with additional information regarding the use of this non-GAAP measure. Core revenue growth rate as projected for full fiscal year 2018 excludes the impact of currency, acquisitions and divestitures within the past 12 months. Most of the excluded amounts pertain to events that have not yet occurred and are not currently possible to estimate with a reasonable degree of accuracy and could differ materially. Therefore, no reconciliation to GAAP amounts has been provided for the projection.

(2) Non-GAAP net income and non-GAAP earnings per share primarily exclude the impacts of non-cash intangibles amortization, business exit and divestiture costs, transformational initiatives, acquisition and integration costs, gain on step acquisition of Lasergen, Nucleic Acid Solutions Division (“NASD”) site costs and special compliance costs. We also exclude any tax benefits or expenses that are not directly related to ongoing operations and which are either isolated or are not expected to occur again with any regularity or predictability. A reconciliation between non-GAAP net income and GAAP net income is set forth on page 6 of the attached tables along with additional information regarding the use of this non-GAAP measure.

(3) Non-GAAP earnings per share as projected for Q4 FY18 and full fiscal year 2018 excludes primarily the impacts of non-cash intangibles amortization, business exit and divestiture costs, transformational initiatives, acquisition and integration costs, gain on step acquisition of Lasergen, pension settlement gain, Nucleic Acid Solutions Division (“NASD”) site costs and special compliance costs. We also exclude any tax benefits that are not directly related to ongoing operations and which are either isolated or are not expected to occur again with any regularity or predictability, including the impact of U.S. Tax Cuts and Jobs Act (Tax Reform). Most of these excluded amounts that pertain to events that have not yet occurred and are not currently possible to estimate with a reasonable degree of accuracy and could differ materially. Therefore, no reconciliation to GAAP amounts has been provided. Future amortization of intangibles is expected to be approximately $26 million per quarter.

NOTE TO EDITORS: Further technology, corporate citizenship and executive news is available on the Agilent news site at www.agilent.com/go/news.

AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In millions, except per share amounts)
(Unaudited)
PRELIMINARY
       
 
Three Months Ended
July 31, Percent
  2018     2017   Inc/(Dec)
 
Net revenue $ 1,203 $ 1,114 8 %
 
Costs and expenses:
Cost of products and services 542 518 5 %
Research and development 97 87 11 %
Selling, general and administrative   339     308   10 %
Total costs and expenses   978     913   7 %
 
Income from operations 225 201 12 %
 
Interest income 9 6 50 %
Interest expense (18 ) (19 ) (5 %)
Other income (expense), net   26     5  
 
Income before taxes 242 193 25 %
 
Provision for income taxes 6 18 (67 %)
   
Net income $ 236   $ 175   35 %
 
 
 
Net income per share:
Basic $ 0.74 $ 0.55
Diluted $ 0.73 $ 0.54
 
Weighted average shares used in computing net income per share:
Basic 320 321
Diluted 324 326
 
Cash dividends declared per common share $ 0.149 $ 0.132
 
 
 
The preliminary income statement is estimated based on our current information.
 
Page 1
 
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In millions, except per share amounts)
(Unaudited)
PRELIMINARY
     
 
Nine Months Ended
July 31, Percent
  2018     2017   Inc/(Dec)
 
Net revenue $ 3,620 $ 3,283 10 %
 
Costs and expenses:
Cost of products and services 1,642 1,521 8 %
Research and development 281 250 12 %
Selling, general and administrative   1,018     904   13 %
Total costs and expenses   2,941     2,675   10 %
 
Income from operations 679 608 12 %
 
Interest income 28 15 87 %
Interest expense (57 ) (59 ) (3 %)
Other income (expense), net   52     13  
 
Income before taxes 702 577 22 %
 
Provision for income taxes 581 70
   
Net income $ 121   $ 507  
 
 
 
Net income per share:
Basic $ 0.38 $ 1.57
Diluted $ 0.37 $ 1.56
 
Weighted average shares used in computing net income per share:
Basic 322 322
Diluted 326 325
 
Cash dividends declared per common share $ 0.447 $ 0.396
 
 
 
The preliminary income statement is estimated based on our current information.
 
Page 2
 
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(In millions)
(Unaudited)
PRELIMINARY
       
 
Three Months Ended Nine Months Ended
July 31, July 31,
  2018     2017     2018     2017  
 
Net income $ 236 $ 175 $ 121 $ 507
 
Other comprehensive income (loss), net of tax:
 
Unrealized gain (loss) on derivative instruments 6 (3 ) 3 (3 )
Amounts reclassified into earnings related to derivative instruments 1 (1 ) 4 (2 )
Foreign currency translation (39 ) 57 (13 ) 61
Net defined benefit pension cost and post retirement plan costs:
Change in actuarial net loss 8 8 21 34
Change in net prior service benefit   (1 )   (1 )   (4 )   (4 )
Other comprehensive income (loss)   (25 )   60     11     86  
 
Total comprehensive income $ 211   $ 235   $ 132   $ 593  
 
 
The preliminary statement of comprehensive income is estimated based on our current information.
 
Page 3
 
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(In millions, except par value and share amounts)
(Unaudited)
PRELIMINARY
     
 
July 31, October 31,
  2018     2017  
ASSETS
 
Current assets:
Cash and cash equivalents $ 2,131 $ 2,678
Accounts receivable, net 733 724
Inventory 623 575
Other current assets   180     192  
Total current assets 3,667 4,169
 
Property, plant and equipment, net 801 757
Goodwill and other intangible assets, net 3,448 2,968
Long-term investments 70 138
Other assets   363     394  
Total assets $ 8,349   $ 8,426  
 
LIABILITIES AND EQUITY
 
Current liabilities:
Accounts payable $ 273 $ 305
Employee compensation and benefits 251 276
Deferred revenue 328 291
Short-term debt 210
Other accrued liabilities   162     181  
Total current liabilities 1,014 1,263
 
Long-term debt 1,799 1,801
Retirement and post-retirement benefits 218 234
Other long-term liabilities   750     293  
Total liabilities   3,781     3,591  
 
Total Equity:
Stockholders' equity:

Preferred stock; $0.01 par value; 125 million shares authorized; none issued and outstanding

Common stock; $0.01 par value, 2 billion shares authorized; 319 million shares at July 31, 2018 and 322 million shares at October 31, 2017, issued

3 3
Additional paid-in-capital 5,312 5,300
Accumulated deficit (416 ) (126 )
Accumulated other comprehensive loss   (335 )   (346 )
Total stockholders' equity 4,564 4,831
Non-controlling interest   4     4  
Total equity   4,568     4,835  
Total liabilities and equity $ 8,349   $ 8,426  
 
 
 
The preliminary balance sheet is estimated based on our current information.
 
Page 4
 
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(In millions)
(Unaudited)
PRELIMINARY
             
 
Three Months Three Months Nine Months Nine Months
Ended Ended Ended Ended
July 31, July 31, July 31, July 31,
  2018     2017     2018     2017  
Cash flows from operating activities:
Net income $ 236 $ 175 $ 121 $ 507
 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization 53 51 154 160
Share-based compensation 13 13 56 48
Excess and obsolete inventory related charges 5 4 22 19
Gain on step acquisition of Lasergen (20 ) (20 )
Other non-cash expenses, net 5 3 7 5
Changes in assets and liabilities:
Accounts receivable, net 12 19 (9 ) (29 )
Inventory (32 ) (17 ) (66 ) (46 )
Accounts payable 5 5 (9 ) 11
Employee compensation and benefits (17 ) (18 ) (24 ) (11 )
Change in assets and liabilities due to Tax Act 533
Other assets and liabilities   (63 )   (7 )   (50 )   (63 )
Net cash provided by operating activities (a) 197 228 715 601
 
Cash flows from investing activities:
Investments in property, plant and equipment (33 ) (43 ) (141 ) (118 )
Payment to acquire cost method investments (10 ) (11 )
Proceeds from divestitures 1
Change in restricted cash and cash equivalents, net 1
Payment in exchange for convertible note (1 ) (2 ) (1 )
Acquisition of businesses and intangible assets, net of cash acquired   (430 )   (57 )   (437 )   (127 )
Net cash used in investing activities (473 ) (101 ) (590 ) (245 )
 
Cash flows from financing activities:
Issuance of common stock under employee stock plans 17 32 53 58
Payment of taxes related to net share settlement of equity awards (29 ) (13 )
Payment of dividends (48 ) (42 ) (144 ) (127 )
Proceeds from revolving credit facility 127 115 483 343
Repayment of debt and revolving credit facility (442 ) (76 ) (693 ) (163 )
Treasury stock repurchases   (243 )       (336 )   (194 )
Net cash provided by (used) in financing activities (589 ) 29 (666 ) (96 )
 
Effect of exchange rate movements (15 ) 18 (6 ) 14
 
Net increase (decrease) in cash and cash equivalents (880 ) 174 (547 ) 274
 
Cash and cash equivalents at beginning of period   3,011     2,389     2,678     2,289  
 
Cash and cash equivalents at end of period $ 2,131   $ 2,563   $ 2,131   $ 2,563  
 
(a) Cash payments included in operating activities:
Income tax payments (refunds), net $ 38 $ 15 $ 86 $ 56
Interest payments $ 25 $ 29 $ 68 $ 69
 
 
 
The preliminary cash flow is estimated based on our current information.
 
 
Page 5
 
AGILENT TECHNOLOGIES, INC.
NON-GAAP NET INCOME AND DILUTED EPS RECONCILIATIONS
(In millions, except per share amounts)
(Unaudited)
PRELIMINARY
           
Three Months Ended Nine Months Ended
July 31, July 31,
  2018   Diluted EPS   2017   Diluted EPS   2018   Diluted EPS   2017   Diluted EPS
 
GAAP net income $ 236 $ 0.73 $ 175 $ 0.54 $ 121 $ 0.37 $ 507 $ 1.56
Non-GAAP adjustments:
Intangible amortization 26 0.08 27 0.08 76 0.23 89 0.27
Business exit and divestiture costs 1 9 0.03
Transformational initiatives 4 0.01 3 0.01 14 0.04 5 0.02
Acquisition and integration costs 7 0.02 4 0.01 14 0.04 27 0.08
Pension settlement gain (5 ) (0.02 ) (32 ) (0.10 )
Gain on step acquisition of Lasergen (20 ) (0.06 ) (20 ) (0.06 )
NASD site costs 2 0.01 6 0.02
Special compliance costs 1 3 0.01
Other 2 0.01 1 (12 ) (0.03 ) 5 0.02
Adjustment for Tax Reform 533 1.63
Adjustment for taxes (a)   (42 )   (0.13 )   (19 )   (0.05 )   (94 )   (0.28 )   (51 )   (0.16 )
Non-GAAP net income $ 217   $ 0.67   $ 191   $ 0.59   $ 645   $ 1.98   $ 550   $ 1.69  
 
 
(a) The adjustment for taxes excludes tax benefits that management believes are not directly related to on-going operations and which are either isolated or cannot be expected to occur again with any regularity or predictability. For the three and nine months ended July 31, 2018, management uses a non-GAAP effective tax rate of 18.0%. In the same periods last year, management used a non-GAAP effective tax rate of 16.2% and 18.0%, respectively.
 
We provide non-GAAP net income and non-GAAP net income per share amounts in order to provide meaningful supplemental information regarding our operational performance and our prospects for the future. These supplemental measures exclude, among other things, charges related to amortization of intangibles, business exit and divestiture costs, transformational initiatives, acquisition and integration costs, pension settlement gain, gain on step acquisition of Lasergen, NASD site costs, special compliance costs, and adjustment for Tax Reform.
 
Business exit and divestiture costs include costs associated with business divestitures.
 
Transformational initiatives include expenses associated with targeted cost reduction activities such as manufacturing transfers including costs to move manufacturing due to new tariffs and tariff remediation actions, small site consolidations, legal entity and other business reorganizations, insourcing or outsourcing of activities. Such costs may include move and relocation costs, one-time termination benefits and other one-time reorganization costs. Included in this category are also expenses associated with company programs to transform our product lifecycle management (PLM) system, human resources and financial systems.
 
Acquisition and Integration costs include all incremental expenses incurred to effect a business combination. Such acquisition costs may include advisory, legal, accounting, valuation, and other professional or consulting fees. Such integration costs may include expenses directly related to integration of business and facility operations, the transfer of assets and intellectual property, information technology systems and infrastructure and other employee-related costs.
 
Pension settlement gain resulted from transfer of the substitutional portion of our Japanese pension plan to the government.
 
Gain on step acquisition of Lasergen resulted from the measurement at fair value of our equity interest held at the date of business combination.
 
NASD site costs include all the costs related to the expansion of our manufacturing of nucleic acid active pharmaceutical ingredients incurred prior to the commencement of commercial manufacturing.
 
Special compliance costs include costs associated with transforming our processes to implement new regulations such as the EU's General Data Protection Regulation (GDPR), revenue recognition and certain tax reporting requirements.
 
Other includes certain legal costs and settlements in addition to other miscellaneous adjustments.
 
Adjustment for Tax Reform primarily consists of an estimated provision of $480 million for U.S. transition tax and correlative items on deemed repatriated earnings of non-U.S. subsidiaries and an estimated provision of $53 million associated with the decrease in the U.S. corporate tax rate from 35% to 21% and its impact on our U.S. deferred tax assets and liabilities. The taxes payable associated with the transition tax, net of tax attributes, on deemed repatriation of foreign earnings is approximately $440 million, payable over 8 years. The final impact of Tax Reform may differ materially from these estimates, due to, among other things, changes in interpretations, analysis and assumptions made, additional guidance that may be issued, and actions that we may undertake.
 
 
Our management uses non-GAAP measures to evaluate the performance of our core businesses, to estimate future core performance and to compensate employees. Since management finds this measure to be useful, we believe that our investors benefit from seeing our results “through the eyes” of management in addition to seeing our GAAP results. This information facilitates our management’s internal comparisons to our historical operating results as well as to the operating results of our competitors.
 
Our management recognizes that items such as amortization of intangibles can have a material impact on our cash flows and/or our net income. Our GAAP financial statements including our statement of cash flows portray those effects. Although we believe it is useful for investors to see core performance free of special items, investors should understand that the excluded items are actual expenses that may impact the cash available to us for other uses. To gain a complete picture of all effects on the company’s profit and loss from any and all events, management does (and investors should) rely upon the GAAP income statement. The non-GAAP numbers focus instead upon the core business of the company, which is only a subset, albeit a critical one, of the company’s performance.
 
Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. They should be read in conjunction with the GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.
 
The preliminary non-GAAP net income and diluted EPS reconciliation is estimated based on our current information.
 
Page 6
 
AGILENT TECHNOLOGIES, INC.
SEGMENT INFORMATION
(In millions, except where noted)
(Unaudited)
PRELIMINARY
   
Life Sciences and Applied Markets Group
Q3'18 Q3'17
Revenue $ 540 $ 510
Gross Margin, % 61.3 % 59.9 %
Income from Operations $ 123 $ 109
Operating margin, % 22.9 % 21.4 %
 
 
Diagnostics and Genomics Group
Q3'18 Q3'17
Revenue $ 237 $ 218
Gross Margin, % 57.0 % 52.9 %
Income from Operations $ 44 $ 37
Operating margin, % 18.5 % 17.1 %
 
 
Agilent CrossLab Group
Q3'18 Q3'17
Revenue $ 426 $ 386
Gross Margin, % 50.6 % 49.9 %
Income from Operations $ 102 $ 90
Operating margin, % 23.8 % 23.4 %
 
 
 
 
 
 
Income from operations reflect the results of our reportable segments under Agilent's management reporting system which are not necessarily in conformity with GAAP financial measures. Income from operations of our reporting segments exclude, among other things, charges related to amortization of intangibles, business exit and divestiture costs, transformational initiatives, acquisition and integration costs, NASD site costs, and special compliance costs.
 
Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. They should be read in conjunction with the GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.
 
The preliminary segment information is estimated based on our current information.
 
Page 7
 
AGILENT TECHNOLOGIES, INC.
RECONCILIATIONS OF REVENUE BY SEGMENT EXCLUDING
ACQUISITIONS, DIVESTITURES AND THE IMPACT OF CURRENCY ADJUSTMENTS (CORE)
(in millions)
(Unaudited)
PRELIMINARY
     
Year-over-Year
 
GAAP
Year-over-Year

GAAP Revenue by Segment

Q3'18 Q3'17 % Change
 
Life Sciences and Applied Markets Group $ 540 $ 510 6 %
 
Diagnostics and Genomics Group 237 218 9 %
 
Agilent CrossLab Group 426 386 10 %
   
Agilent $ 1,203 $ 1,114 8 %
 
 
 
 
Non-GAAP

(excluding Acquisitions & Divestitures)

Year-over-Year

at Constant Currency (a)

 

Year-over-Year

Year-over-Year

Percentage Point
Impact from Currency

Current Quarter
Currency Impact (b)

Non GAAP Revenue by Segment

Q3'18 Q3'17 % Change % Change
 
Life Sciences and Applied Markets Group $ 538 $ 508 6 % 5 % 1 ppt $ 7
 
Diagnostics and Genomics Group 232 218 7 % 5 % 2 ppts 4
 
Agilent CrossLab Group 426 386 10 % 8 % 2 ppts 7
     
Agilent (Core) $ 1,196 $ 1,112 8 % 6 % 2 ppts $ 18
 
 
 
We compare the year-over-year change in revenue excluding the effect of recent acquisitions and divestitures and foreign currency rate fluctuations to assess the performance of our underlying business.
 
(a) The constant currency year-over-year growth percentage is calculated by recalculating all periods in the comparison period at the foreign currency exchange rates used for accounting during the last month of the current quarter, and then using those revised values to calculate the year-over-year percentage change.
 
(b) The dollar impact from the current quarter currency impact is equal to the total year-over-year dollar change less the constant currency year-over-year change.
 
The preliminary reconciliation of GAAP revenue adjusted for recent acquisitions and divestitures and impact of currency is estimated based on our current information.
 
Page 8
 

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JFrog, the DevOps technology leader known for enabling liquid software via continuous update flows, was honored today with two prestigious awards as part of DevOps.com's annual DevOps Dozen. The awards recognized both JFrog Artifactory as the "Best DevOps Commercial Solution" and JFrog Co-Founder and CEO, Shlomi Ben Haim, as the "Best DevOps Solution Provider Executive". DevOps.com holds the DevOps Dozen awards annually to recognize the best of the best in the global DevOps marketplace.
Eggplant, the customer experience optimization specialist, announced the latest enhancements to its Digital Automation Intelligence (DAI) Suite. The new capabilities augment Eggplant’s continuous intelligent automation by making it simple and quick for teams to test the performance and usability of their products as well as basic functionality, delivering a better user experience that drives business outcomes.