Agilent Technologies (NYSE:A) has unveiled results for its fiscal Q1 2013. For the quarter, the company's net revenue inched up 3% on a year-over-year basis, to $1.7 billion. GAAP net income, however, fell by 22%, to $179 million ($0.51 per diluted share). Non-GAAP net income came in at $222 million ($0.63 diluted EPS), down from Q1 2012's $244 million ($0.69).

At least some of the decline can be attributed to the performance of the firm's core electronic-measurement segment, which has seen weak demand of late. Quarterly revenues in the segment dropped 7% from those of Q1 2012.

Agilent reduced its guidance for fiscal 2013. It now expects revenue of $6.9 billion-$7.1 billion, and non-GAAP EPS of $2.70-$3.00. Previously, the company had anticipated $7.0 billion-$7.2 billion, and $2.80-$3.10.

For its current quarter, the firm believes it will post $1.74 billion-$1.77 billion in revenue, and net $0.64-$0.70 per share.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.