Agilent Technologies said its fiscal first-quarter profit fell 47 percent as revenue dropped in the company's electronic measurement and semiconductor and board test segments.

The company also said that, as part of a plan to lower costs, it will cut 600 jobs.

For the quarter that ended Jan. 31, Agilent earned $64 million, or 18 cents per share, compared with $120 million, or 31 cents per share, in the year-ago quarter. When excluding items like restructuring and related costs, Agilent earned 20 cents per share. Revenue fell 16 percent to $1.17 billion. Overall orders declined 20 percent to $1.12 billion.

The company said that revenue in its electronic measurement segment fell 23 percent to $596 million, while its semiconductor and board test segment's revenue fell 49 percent to $45 million. Revenue in Agilent's bio-analytical measurement segment's revenue declined 1 percent to $525 million.