AUSTIN, TX -- NI today announced third-quarter revenue fell 4% year-over-year to $300 million.

GAAP net income for the period ended Sept. 30 was $23 million, down from $39.7 million a year ago.

Core revenue was up 5% year-over-year for the period. Core revenue is GAAP revenue excluding the impact of NI’s largest customer and the impact of foreign currency exchange. 

NI's largest customer booked $6 million in orders during the period, versus $12 million a year ago. Excluding that customer, total orders were flat for the quarter with orders under $20,000 down 2% year-over-year; orders between $20,000 and $100,000 up 3%; and orders above $100,000 up 4%.

“Over the course of several decades, we have successfully managed the business through various economic and currency cycles. I am confident our product pipeline, channel and operational excellence will help drive the long-term growth and profitability of the company,” said Dr. James Truchard, NI president, CEO and cofounder. “At NIWeek this year, we focused on how we are uniquely positioned to empower our customers to benefit from the trends of the Industrial Internet of Things and Big Analog Data, given our rich history in measurements and our software-based platform that allows us to add more intelligence to devices and systems across a broad range of industries.”

NI also also announced its acquisition of Micropross, a supplier of software-based test systems for near field communications, smart cards, and wireless charging test systems. 

NI currently expects fourth quarter revenue in the range of $315 million to $345 million, reflecting a 1% decrease at the midpoint of guidance. NI COO and CFO Alex Davern said, “Though we will continue to experience a drag on our revenue from currency headwinds in Q4, we expect to enter Q1 with more favorable compares that should allow the strength of our broad-based business to show through.”

• Prev
• Next