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NI’s Q3 Net Income Drops 55% Despite Record Revenue

Published: 27 October 2011
 by Staff

AUSTIN – National Instruments today announced record third-quarter revenue of $255 million, up 16% year-over-year.

 

Net income was $12.7 million, down 55% compared to the third quarter of 2010.

Adjustments included $3 million relating to the acquisition of AWR and a $13 million accrual related to a dispute concerning the firm’s GSA contract with the US government.

During the period, the company's orders greater than $20,000 grew 31% compared to the same quarter last year, and the average order size reached a record of approximately $4,600.

Graphical system design product sales were up 24% year-over-year during the quarter, and instrument control product sales were up 1%.

NI expects revenue for the fourth quarter to be between $280 million and $300 million, up 12 and 20% year-over-year.

NI has a goal of $2 billion in revenue by 2016, said Dr. James Truchard, cofounder, president and CEO.

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