* Q1 GAAP EPS $0.23 vs est EPS $0.30
* Q1 rev up 21 pct
April 27 National Instruments (NATI.O), a
supplier of measurement and automation products, posted a
lower-than-expected profit, hurt largely by a combination of
higher operating expenses and shipping delays.
For the first quarter ended March 31, the company posted
net income of $18.4 million, or 23 cents a share, compared with
profit of $358,000, or breakeven a year earlier.
Excluding items, it earned 28 cents a share.
Net sales rose 21 percent to $191 million.
Analysts on average expected the company to earn 30 cents a
share on revenue of $200 million, according to Thomson Reuters
Operating expenses for the quarter rose more than 7 percent
to $128.3 million, while $5 million of shipments missed the
deadline for revenue recognition in the quarter, the company
said in a statement.
However, National Instruments issued a second-quarter
profit range of 28 cents to 38 cents a share, on revenue
between $200 million to $214 million.
Excluding items, it expects to post earnings of 33 cents to
43 cents a share.
Analysts on average were expecting the company to earn 32
cents a share on revenue of $206.3 million.
"Our guidance anticipates very strong year-over-year
revenue growth in the second quarter, with the midpoint of
guidance representing 36 percent year-over-year revenue
growth," Chief Financial Officer Alex Davern said in a
Shares of the Austin, Texas-based company closed at $36.12,
Tuesday on Nasdaq.
(Reporting by Biswarup Gooptu in Bangalore; Editing by Don