National Instruments Swings To Profit In Q3; Shares Up 6%

(RTTNews) - Shares of National Instruments Corp. (NATI) are gaining over 6% in extended trading session on Thursday after the company reported its third-quarter net income of $27.2 million or $0.20 per share, compared to a loss of $4.6 million or $0.04 per share last year.

On an adjusted basis, earnings rose to $0.42 per share from $0.23 per share last year.

Sales for the quarter rose 19% to $367.2 million from $308.1 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.18 per share on revenues of $373.93 million.

Looking forward to the fourth quarter, the company expects adjusted earnings of $0.47 to $0.61 per share and revenues of $385 million to $425 million. Analysts currently estimate earnings of $0.34 per share on revenues of $409.12 million.

NATI closed Thursday's trading at $40.89, up $0.60 or 1.49%, on the Nasdaq. The stock further gained $2.47 or 6.04% in the after-hours trading.