National Instruments Q1 Profit Rises

(RTTNews) - National Instruments (NATI) Thursday reported first-quarter net income of $132.66 million or $1.01 per share, up from $23.22 million or $0.17 per share last year.

On an adjusted basis, earnings dropped to $0.26 per share from $0.30 per share last year.

First-quarter revenues dropped to $309.38 million from $311.07 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.70 per share on revenues of $315.2 million.

Moving ahead, the company said, "The total impact of COVID-19 on our economy remains highly uncertain and we have limited visibility into the second quarter making the impact hard to quantify. As a result, we will not provide guidance for Q2 2020 at this time. We do plan to release a business update on June 9 when we expect to have clearer insight into the quarter."