National Instruments Earnings Soar

Shares rise 5%.
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National Instruments

(NATI) - Get Report

rose 4.5% early Tuesday after it said third-quarter earnings rose 30%.

The Austin, Texas-based company earned $18.6 million, or 23 cents a share, in the quarter, compared with $14.4 million, or 18 cents a share, a year ago. After adjustments for stock-based compensation and amortization, the company reported earnings of 27 cents a share. Analysts polled by Thomson First Call were expecting earnings of 21 cents a share in the most recent quarter.

Third-quarter revenue rose 16% to $164 million as against analysts' estimate of $161.9 million.

For the fourth quarter, the company expects to earn between 26 cents to 31 cents a share and between 30 cents to 35 cents a share after excluding stock-based compensation expense and impact of the amortization of acquisition-related intangibles. Analysts polled by Thomson First Call estimate earnings of 28 cents a share.

The company has projected third-quarter revenue of $177 million to $184 million against analysts' consensus estimate of $179.8 million. It added that it expects revenue to decrease up to 5 percent sequentially in the first quarter of 2007 from the seasonal peak in Q4.

Shares rose $1.37 to $29.37.

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