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Agilent Technologies Inc. (A - Analyst Report) launched a new OLED handheld digital multimeter (DMM), U1273AX, that can function at temperatures as low as -40° C. This new DMM is priced at $450.00 in the U.S.

The handheld DMM is equipped with organic light-emitting diode (OLED) display, which will provide crystal-clear readings and it is built specially for harsh weather conditions, as it is capable of operating at -40°C to 55°C. Agilent has equipped the multimeter with enhanced features so that it can take accurate measurement even in low-light environments.

The device is targeted at field engineers and technicians, since they are required to take reliable and accurate measurements in harsh weather conditions. The U1273AX is equipped with a Bluetooth adapter that enables the device to wirelessly connect with smartphones and tablets. This unique feature will help field engineers to take measurements without leaving the warmth and safety of the vehicles they are in.

Agilent is constantly evolving its handheld digital multimeters portfolio as it previously launched another model U1250A Series in September 2012. Agilent is also introducing new models at regular intervals and is committed to provide top-notch, low-cost test and measurement solutions to its customers.

Agilent’s constant endeavor to innovate will guide it toward success as engineers and manufacturers are in constant need for the latest equipment; whether it be for compliance testing, communication testing solutions or inspection among others.

In the digital multimeter sector, Agilent may face stiff competition from Tektronix (TEK), National Instruments Corporation (NATI - Snapshot Report) and others.

According to a study conducted by GIA, the electronic test and measurement instruments market is forecasted to reach $4.59 billion by 2017, driven by demandfrom the communications, semiconductor manufacturing, aerospace, military and other major industries.

There is ample room for growth if Agilent plays to its strengths and remains committed to its customers by providing world class, affordable test and measurement solutions.

Agilent’s revenue in the third quarter was flat sequentially and up 1.9% year over year, short of management’s expectations of a 2-3% sequential increase ($1.77 billion to $1.79 billion). The Electronic Measurement segment contributed 49.0% of revenue. The weakness was on the computing/semiconductor sides of the business. The Life Sciences segment generated 23.0% of revenue, down 1.0% sequentially and up 2.1% from last year. The Chemical Analysis segment generated 22.0% of third quarter revenue, down 8.8% sequentially and 7.0% year over year. The sequential decline was largely because of weakness in food testing.

Currently, Agilent Technologies has a Zacks #4 Rank, implying a short-term ‘Sell’ rating.

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