RTTNews | Jan 27, 2022 05:23PM EST

17:23 Thursday, January 27, 2022 (RTTNews.com) - Shares of National Instruments Corp. (NATI) are gaining over 7% in extended trading session on Thursday after the company reported its fourth-quarter results.

Fourth-quarter net income was $40.34 million or $0.30 per share, compared to $4.74 million or $0.04 per share last year. On an adjusted basis, earnings were $80 million or $0.60 per share for the quarter.

Sales for the quarter rose 14% to $420.6 million from $367.8 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share on revenues of $404.96 million.

Looking forward to the first quarter, the company expects adjusted earnings of $0.35 to $0.49 per share and revenues of $385 million to $415 million. Analysts currently estimate earnings of $0.22 per share on revenues of $393.28 million.

NATI closed Thursday's trading at $38.78, down $1.25 or 3.12%, on the Nasdaq. The stock, however, gained $2.77 or 7.14%, in the after-hours trading.

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