UPDATE 1-National Instruments Q2 beats Street view

Tue Jul 27, 2010 5:31pm EDT

* Q2 adjusted EPS $0.36 vs est $0.33

* Q2 rev up 39 pct at $211.7 mln

* Sees Q3 adj EPS $0.32-$0.42 vs est $0.32/shr

* Sees Q3 rev $206 mln-$220 mln vs est $209.9 mln

July 28 (Reuters) - National Instruments (NATI.O), a supplier of measurement and automation products, reported better-than-expected second-quarter profit, helped by higher product and software sales.

The company also forecast third-quarter profit outlook, the lower end of which was in line with the consensus view, and said it is looking to scale up investment expenditure in line with revenue growth.

The company had last year announced the decision to limit investment expenditure to 50 percent of revenue growth to lock in profitability.

The company said it sees third-quarter adjusted earnings between 32 cents a share and 42 cents a share, and revenue in a range of $206 million to $220 million.

Analysts were expecting the company to post a profit of 32 cents a share on revenue of $209.9 million, according to Thomson Reuters I/B/E/S.

For the second quarter, the company had a net income of $24.6 million, or 31 cents a share, compared with $4.4 million, or 6 cents a share, last year.

Excluding items, the company earned 36 cents a share.

Total sales for the second quarter rose 39 percent to $211.7 million.

Analysts on an average were expecting the company to post earnings of 33 cents a share, on revenue of $208.7 million.

Shares of the Austin, Texas-based company closed at $33.44, Tuesday on Nasdaq. (Reporting by Himank Sharma in Bangalore; Editing by Roshni Menon)

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