a maker of process testing equipment and software for computers said its first-quarter earnings rose 13%, thanks to higher revenue.
The Austin, Texas based, company earned $12.6 million, or 15 cents a share, in the quarter, compared with $11.14 million, or 14 cents a share, a year ago. After adjustments, the company reported a profit of $16.17 million or 20 cents a share. Analysts polled by Thomson First Call were expecting earnings of 15 cents a share in the most recent quarter.
First-quarter revenue rose 19% to $155 million driven by the success of new products, especially in the areas of data acquisition, distributed I/O, modular instruments and PXI, as against analysts' estimate of $153.97 million. Revenue from the NI instrument control products were up 2% and revenue from the NI virtual instrumentation platforms, were up 15%.
For the second quarter of 2006 the company expects to earn between 15 cents to 20 cents a share and between 20 cents to 25 cents a share after excluding stock-based compensation expense and impact of the amortization of acquisition-related intangibles. Analysts polled by Thomson First Call estimated earnings of 19 cents a share.
The company has projected revenue of $155 million to $162 million, as against analysts' estimate of $162.35 million.
"We continue to deliver innovative new products while we maintain disciplined expense control, our new products strengthen our vision of virtual instrumentation while expanding our opportunities in new areas such as graphical system design for industrial and embedded applications," said the company.
The company also announced a dividend of 6 cents a share payable on May 30, 2006.
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