HARDWARE

National Instruments' revenue falls, but still posts profit

Austin-based tech company reported first quarter financials on Thursday

Posted April 28th, 2016

NATIONAL INSTRUMENTS

WHAT THEY DO:

The Austin-based company makes testing and measurement hardware and software systems used by scientists and engineers worldwide. It employs 2,700 workers in Austin.

QUARTER:

First quarter ended March 31

THE RESULTS: The company on April 4 issued weaker-than-expected first-quarter guidance. It blamed the outlook on "further weakness in the industrial economy in Q1," and noted "a marked slow-down in our semiconductor accounts that are part of the wireless supply chain."  The company on Thursday reported revenue of $287 million, down 1 percent year-over-year.  Net income was $9.3 million, or 7 cents per share, compared with $15 million, or 12 cents per share, in the same quarter a year ago.

WHAT TO EXPECT: Officials said the company is taking steps to weather the slow down. "In light of the uncertain outlook for the industrial economy, we plan to leverage the strategic investments we have already made while managing expenses carefully," Alex Davern, National Instruments chief financial officer, said in a statement.

STOCK PERFORMANCE: National Instruments shares have decreased slightly more than 3 percent since the beginning of the year. At the close of trading on Thursday, shares were at $27.75, a fall of 13 percent in the last 12 months.

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