(By Salman - iStockAnalyst Writer)

Late on Tuesday, Agilent Technologies Inc. (NYSE: A) announced that its first-quarter earnings nearly halved to $64 million, or 18 cents a share, from $120 million, or 31 cents a share, in the prior year quarter. On an adjusted basis, the company earned 20 cents a share, down 44% from the same quarter, a year ago.  Revenue fell to $1.17 billion from $1.39 billion. Analysts on an average were expecting earnings of 28 cents a share on revenue of $1.27 billion. Commenting on the results President and Chief Executive Bill Sullivan said "In the first quarter, Agilent felt the full brunt of the severe, worldwide economic downturn. We don't know where, or when, this recession will bottom. But, we will remain proactive in addressing the economic challenges we face, and we are committed to delivering performance consistent with Agilent's operating model. Shares of Agilent Technologies plunged over 9% in extended trading.

IPC Holdings Ltd. (NASDAQ: IPCR) reported fourth quarter net income of $41.61 million or 79 cents per common share, compared to $162.79 million or $2.48 per common share in the corresponding quarter, a year ago. Net operating income plunged to $46.5 million or $0.84 per common share, compared to $140.7 million or $2.09 per common share. Revenue decreased to $120.11 million from $141.17 million in the prior year period. Analysts' estimates were for earnings of 58 cents a share on revenue of $105.08 million for the quarter. Analysts' estimates typically exclude special items. President and Chief Executive Officer Jim Bryce stated: "2008 was a year of unprecedented turmoil, not only in view of the high level of loss activity, but especially in the capital and credit markets, and the impact of this on global economies generally. We are hopeful that the remainder of 2009 will bring continued opportunities to grow and consolidate our position in the insurance and reinsurance market."

Jack in the Box Inc. (NASDAQ: JACK) said that its first-quarter net income slipped to $28.4 million, or 49 cents a share, from $36.3 million, or 59 cents a share, in the comparable quarter last year. Revenue fell marginally to $776.7 million from $777 million. Consensus expectations were for earnings of 52 cents a share on revenue of $749 million. Same-store sales grew 1.7% in the first quarter. Looking ahead, for full fiscal year 2009, the company expects report adjusted earnings in the range of $2 to $2.20 a share. “Our new Teriyaki Bowls, which were launched in the western U.S. in October, helped drive sales in the quarter, especially in some of our major markets," Linda A. Lang, chairman and chief executive officer, said. "In addition, we offered a $2.99 Jumbo Deal across the system for the final three weeks of the quarter, which offered guests great value. Sales continued to improve in many of our major markets. California, Texas and Las Vegas posted positive same-store sales during the quarter.