NI sees Q4 rev below market view

CALIFORNIA, USA: National Instruments forecast fourth-quarter revenue below analysts' estimates hurt by a slowdown in the European industrial sector, sending its shares down 5 per cent after market.

For the fourth quarter, the company, which supplies measurement and automation products, sees adjusted earnings of 26 cents to 27 cents a share, on non-GAAP revenue of $279 million.

Analysts, on average, were looking for earnings of 27 cents a share, before special items, on revenue of $292.4 million, according to Thomson Reuters I/B/E/S.

Shares of the Texas-based company were down 5 per cent at $24.99 in trading after the bell. They closed at $26.37 on Tuesday Nasdaq.