National Instruments Issues Weak 2Q Sales Outlook

AUSTIN, Texas (AP) — National Instruments Corp. said Tuesday its expects its second-quarter revenue to decline by 26 percent to 31 percent from the prior-year period.

The testing software and equipment company is projecting revenue of $145 million to $155 million in the quarter, falling short of the $163.5 million expected by analysts on average, according to a survey by Thomson Reuters.

The company doesn't expect to see the traditional quarter-end surge in large orders in June.

National Instruments also expects to post quarterly earnings that range from a loss of 4 cents per share to a profit of 4 cents per share. Excluding one-time items, the company is forecasting breaking even or earning up to 8 cents per share.

Analysts, whose estimates typically exclude one-time items, are expecting a profit of 7 cents per share.

The average daily order rate in the quarter through June 7 fell 27 percent from a year ago, with April orders declining by 31 percent and May down 24 percent. All regions worldwide were soft, with daily order rates falling 24 percent in the Americas, 26 percent in Asia and 33 percent in Europe.

Austin, Texas-based National Instruments reports second-quarter earnings on July 23. Shares of National Instruments were up 44 cents to close at $23.83 on Tuesday, but fell 83 cents, or 3.5 percent, in after-hours trading following the report.