AUSTIN, Texas (AP) _ National Instruments Corp. (NATI) on Tuesday reported fourth-quarter net income of $56.5 million, after reporting a loss in the same period a year earlier.
The Austin, Texas-based company said it had net income of 42 cents per share. Earnings, adjusted for one-time gains and costs, came to 53 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The maker of scientific measuring equipment and software posted revenue of $360.1 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $380.1 million.
For the year, the company reported profit of $155.1 million, or $1.16 per share. Revenue was reported as $1.36 billion.
For the current quarter ending in April, National Instruments expects its per-share earnings to range from 23 cents to 37 cents.
The company said it expects revenue in the range of $305 million to $335 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $339.4 million.
National Instruments shares have fallen 1 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $44.88, a drop of 5.5 percent 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