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Agilent Technologies completes $4.466 billion stock repurchase program ahead of schedule

23 Jun 2006 - Agilent Technologies Inc. announced that it has completed its $4.466 billion stock repurchase program, ahead of its previously projected year-end schedule. Since announcing the buyback program on Aug. 15, 2005, Agilent acquired approximately 125 million shares of its common stock. Upon completion of the stock repurchase program on June 19, 2006, the company had approximately 408 million shares outstanding, excluding stock options and unvested restricted shares. Agilent expects to report approximately 430 million average shares outstanding on a fully diluted basis during its third quarter ending July 30, 2006.
 
The stock repurchase program was authorized by the company's board of directors concurrently with Agilent's sale of its semiconductor-related businesses. "We are pleased to be able to complete the program ahead of schedule," said Bill Sullivan, Agilent's president and CEO. "As we move forward, we will continue to review the various opportunities for the use of cash generated from operations with the objective of increasing shareholder value."