Feb 26 (Reuters) - Medical equipment maker Agilent ( A )

lowered its annual revenue forecast on Wednesday, as it expects

soft demand for its medical tools and equipment from smaller

biotech companies.

Shares of the company were down 4% at $129.01 in after-hours

trading.

Medical equipment makers such as Agilent ( A ) are seeing a

decline in demand from early-stage biotech companies, who remain

cautious about investing despite an improving funding

environment.

The company now expects annual revenue in the range of $6.68

billion to $6.76 billion, compared to its prior forecast of

$6.79 billion to $6.87 billion. Analysts, on average, were

expecting $6.83 billion, according to data compiled by LSEG.

In November, the company said that it would restructure

its business into three segments - the life sciences and

diagnostics markets group, applied markets group and Agilent

CrossLab group with the aim of becoming "a nimbler company".

The company beat profit estimates for the first quarter

ended January 31, and reported an adjusted profit of $1.31 per

share, compared to estimates of $1.27 per share.

The California-based company reported first-quarter revenue

of $1.68 billion, slightly above analysts' estimates of $1.67

billion.

The company maintained its annual adjusted profit forecast

of $5.54 to $5.61 per share.

Agilent ( A ) had said in November that it expects a continued

recovery in biotech demand throughout the year, following a

trend it had observed in recent quarters.