Austin’s Na­tional In­stru­ments loses $24 mil­lion

Austin American-Statesman - - METRO & STATE - Amer­i­can-States­man staff Na­tional

Austin-based tech­nol­ogy com­pany Na­tional In­stru­ments Corp. on Tues­day re­ported a fourth-quar­ter loss of $24.3 mil­lion, after re­port­ing a profit in the same pe­riod a year ear­lier.

On a per-share ba­sis, the Austin, Texas-based com­pany said it had a loss of 18 cents. Earn­ings, ad­justed for pre­tax ex­penses, were 35 cents per share.

The re­sults topped Wall Street ex­pec­ta­tions. The av­er­age es­ti­mate of three an­a­lysts sur­veyed by Zacks In­vest­ment Re­search was for ad­justed earn­ings of 34 cents per share.

Na­tional In­stru­ments em­ploys about 2,500 in Austin and about 7,500 world­wide. The com­pany makes test­ing equip­ment and soft­ware used by sci­en­tists, en­gi­neers and re­searchers.

“I am proud of what we ac­com­plished in 2017. We set goals to drive rev­enue and make sig­nif­i­cant progress to­ward our op­er­at­ing model, and through fo­cus we met those goals,” Alex Dav­ern, Na­tional In­stru­ments pres­i­dent and CEO, said in a writ­ten state­ment. “Our em­ploy­ees did a tremen­dous job in 2017 ex­e­cut­ing on key busi­ness de­ci­sions. I be­lieve we have an op­por­tu­nity to con­tinue to drive both growth and im­proved prof­itabil­ity in 2018.”

Na­tional In­stru­ments re­ported rev­enue of $349.8 mil­lion in the quar­ter, also ex­ceed­ing Wall Street fore­casts. Three an­a­lysts sur­veyed by Zacks pro­jected $347.4 mil­lion.

For the full year, the com­pany re­ported profit of $52.4 mil­lion, or 40 cents per share. Rev­enue was re­ported as $1.29 bil­lion.

For the cur­rent quar­ter end­ing in April, Na­tional In­stru­ments

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