National Instruments (NASDAQ: NATI) reported Q1 EPS of $0.26, $0.07 better than the analyst estimate of $0.19. Revenue for the quarter came in at $312 million versus the consensus estimate of $322.78 million.

Q1 2018 Highlights

• Revenue of $312 million, up 4 percent year over year
• GAAP gross margin of 76 percent and non-GAAP gross margin of 77 percent
• GAAP net income of $24 million, up 34 percent year over year
• Non-GAAP net income of $34 million, up 26 percent year over year
• Fully diluted GAAP EPS of $0.18 and fully diluted non-GAAP EPS of $0.26
• EBITDA of $46 million
• Cash and short-term investments of $415 million as of March 31, 2018

Guidance

• NI currently expects Q2 revenue to be in the range of $320 million to $350 million, which would be a new Q2 record at the midpoint.
• The company currently expects that GAAP fully diluted EPS will be in the range of $0.15 to $0.29 for Q2, with non-GAAP fully diluted EPS expected to be in the range of $0.23 to $0.37.

GUIDANCE:

National Instruments sees Q2 2018 EPS of $0.23-$0.37, versus the consensus of $0.24. National Instruments sees Q2 2018 revenue of $320-350 million, versus the consensus of $343.84 million.

For earnings history and earnings-related data on National Instruments (NATI) click here.