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NI Posts Q2 Losses

Published: 24 July 2009
 by Staff
AUSTIN, TX – National Instruments (NI) reported second-quarter revenue dropped 28% from last year to $152.2 million. Despite the drop, it still came in above the midpoint of the company’s guidance.
 
For the quarter ended June 30, net income tumbled 82% to $4.4 million. Non-GAAP net income, excluding items, was $8.3 million, compared to $33.6 million last year.
Virtual instruments and graphical system design products, the majority of NI’s product portfolio, saw revenue fall 26% year-over-year, while revenue for instrument control products declined 46%.
 
Software maintenance revenue dropped 17% from last year to $12 million, and product revenue was down 29% to $140 million.
 
Total operating expenses for the quarter were down 15% to $109.3 million.
 
Third-quarter revenue is forecast between $158 million and $168 million.

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