SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Agilent Technologies Inc. (A) on Tuesday reported fiscal first-quarter net income of $348 million.

On a per-share basis, the Santa Clara, California-based company said it had profit of $1.18. Earnings, adjusted for non-recurring costs, came to $1.29 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The scientific instrument maker posted revenue of $1.66 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.57 billion.

For the current quarter ending in April, Agilent expects its per-share earnings to range from $1.17 to $1.20.

The company said it expects revenue in the range of $1.56 billion to $1.59 billion for the fiscal second quarter.

Agilent expects full-year earnings in the range of $5.44 to $5.55 per share, with revenue ranging from $6.71 billion to $6.81 billion.

Agilent shares have fallen slightly more than 4% since the beginning of the year, while the S&P's 500 index has climbed 6.5%. In the final minutes of trading on Tuesday, shares hit $132.96, a fall of 6.5% in the last 12 months.

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