AUSTIN, Texas (AP) _ National Instruments Corp. (NATI) on Tuesday reported first-quarter profit of $23.2 million.
On a per-share basis, the Austin, Texas-based company said it had net income of 17 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 30 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 30 cents per share.
The maker of scientific measuring equipment and software posted revenue of $311.1 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $321.3 million.
For the current quarter ending in July, National Instruments expects its per-share earnings to range from 28 cents to 42 cents.
The company said it expects revenue in the range of $326 million to $356 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $347 million.
National Instruments shares have risen almost 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $47.03, an increase of 15% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NATI at https://www.zacks.com/ap/NATI