National Instruments Q1 Profit Down

(RTTNews) - National Instruments (NATI) Thursday reported first-quarter net income of $4.5 million or $0.03 per share, down from $132.7 million or $1.01 per share last year.

On an adjusted basis, earnings rose to $0.32 per share from $0.26 per share last year.

First-quarter revenues rose to $335.2 million from $309.4 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share on revenues of $342.16 million.

Looking forward to the second quarter, the company currently expects to report a loss of $0.02 to earnings of $0.12 per share, and adjusted earnings of $0.21 to $0.35 per share. Second-quarter revenues are expected to be in range of $304 million to $334 million and adjusted revenues of $305 million to $335 million.

Analysts currently estimate earnings of $0.16 per share on revenues of $350.89 million.