NEW YORK (GenomeWeb News) – Agilent Technologies reported after the close of the market on Tuesday that total revenues for its first fiscal quarter fell 16 percent while net income dropped 47 percent as the company "felt the full brunt of the severe, worldwide economic downturn,” President and CEO Bill Sullivan said in a statement.

For the quarter ended Jan. 31, 2009, Agilent's total revenues fell to $1.17 billion from $1.39 billion — "well below" the company's expectations, Sullivan said.

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