National Instruments Q3 Profit Down

(RTTNews) - National Instruments (NATI) Thursday reported third-quarter net income of $15.8 million or $0.13 per share, compared to $24.34 million or $0.20 per share last year.

On average, six analysts polled by Thomson Reuters expected the company to report profit of $0.11 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted earnings for the quarter dropped to $0.19 per share from $0.26 per share last year.

Total net sales for the quarter dropped to $289.14 million from $289.97 million last year. Analysts estimated revenues of $285.43 million for the quarter.

Looking forward to the fourth quarter, the company expects earnings of $0.19 to $0.31 per share and adjusted earnings of $0.25 to $0.37 per share and revenues of $291 million to $321 million.

Analysts currently estimate earnings of $0.23 per share on revenues of $307.29 million for the quarter.