National Instruments earnings beat projections

Nov 1, 2013
Austin American Statesman

Austin-based National Instruments Corp. said Thursday that it is taking market share from its competitors, as it reported third quarter revenue of $289 million



National Instruments “was able to continue to gain market share in this challenging time for the industry,” said Alex Davern, the company’s chief operating officer and chief financial officer



The company, which is an industry leader in developing test and measurement systems and software for scientists and engineers worldwide, has watched costs closely this year because of a soft global economy



Now it says it expects stronger sales and improved profits for the current quarter


The company said it made a profit of $15.8 million, or 13 cents a share, on sales of $289.1 million for the quarter ended Sept. 30. Those results, which were ahead of analyst estimates, compared with a profit of $24.3 million, or 20 cents a share, on revenue of $290 million a year ago



The company recognized $4 million in revenue from its largest customer, an undisclosed Asian company, compared with $27 million a year ago. Excluding that one large customer, it said total product orders increased 8 percent


Revenue was up 9 percent in the Americas, 7 percent in Europe and 24 percent in emerging markets. But revenue was down 27 percent in East Asia, where its largest customer is located

For the current quarter, the company expects revenue of between $291 million and $321 million with a profit between 19 cents and 31 cents per share

Read More

Print Article opens in new window