National Instruments Q2 Profit Decreases - Quick Facts

(RTTNews) - National Instruments (NATI) reported that its second-quarter net income decreased to $14.42 million or $0.12 per share, from $26.44 million or $0.22 per share, last year. Adjusted net income was $22 million, or $0.18 per share, for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.

Total net sales rose to $296.13 million from $292.26 million last year. Analysts expected revenue of $308.71 million for the quarter.

The company said its GAAP gross margin decreased to 72 percent and non-GAAP gross margin was 73 percent due to lower factory utilization and the significantly lower margin on National Instruments' first RF test application with its largest customer. The company expects revenue for its third quarter to be between $265 million and $295 million, a decrease of 3 percent year-over-year at the midpoint of guidance. Earnings per share is expected to be in the range of $0.04 to $0.16 for the third quarter, with non-GAAP earnings per share to be in the range of $0.10 to $0.22. Analysts expect the company to report third-quarter earnings per share of $0.17 on revenue of $309.13 million.