AUSTIN, TX -- National Instruments today reported third-quarter revenue of $314 million, up 8% year-over-year.

The sales mark set a record for the company.

GAAP net income was $40 million, including a tax benefit of $14 million related to a settlement with the Internal Revenue Service over tax returns for 2010 and 2011. GAAP gross margin was 74%, up 40 basis points from last year, and operating margin was 11%.

 Orders worth less than $20,000 grew 3% year-over-year; orders between $20,000 and $100,000 increased 9% year-over-year; and orders above $100,000 increased 10% year-over-year.

NI recognized $17 million in revenue from its largest customer, compared with $4 million recognized in Q3 2013. Year-to-date, through Oct. 30, the company has received $56 million in orders from this customer, compared to $35 million at this point last year.

"I am pleased with the record revenue delivered in the third quarter and the significant progress made toward improving our operating margin,” said Dr. James Truchard, NI president, CEO and cofounder. “I remain optimistic about our long-term position in the industry, with new products released in Q3 adding capability to our platform to further differentiate our approach in automated test and address new opportunities in areas such as the Industrial Internet of Things.”

Geographic revenue in US dollar terms compared with last year was up 2% in the Americas, up 8% in Europe, up 34% in East Asia and down 14% in Emerging Markets. In local currency terms, revenue was up 5% in Europe, up 33% in East Asia and down 12% in Emerging Markets.

Gross margins are expected to be up sequentially in the fourth quarter, and NI expects revenue between $312 million and $342 million, up 9% year-over-year at the midpoint. 

• Prev
• Next