AUSTIN, TX – National Instruments reported second quarter revenue of $318.6 million, up 4% year-over-year.
GAAP net income was $25.2 million, an increase of 27% compared to the second quarter of 2016. Operating income was $28.6 million, up 5%.
During the quarter, NI received $12 million in orders from its largest customer, compared with $18 million in orders from this same customer in the same period of 2016.
"I am pleased with our second quarter performance and execution as we continue to drive toward our revenue and profitability goals, with record revenue for a second quarter and 26% year-over-year non-GAAP net income growth for the first half of 2017," said Alex Davern, NI president and CEO. "We believe alignment of our product and channel investments toward the growth opportunity in 5G communications, semiconductor test, the connected vehicle, and the Industrial Internet of Things continues to move our platform closer to our users' challenges, which increases our impact within these applications."
For the first six months of 2017, net sales were $618.7 million, up 4.3% year-over-year. Net income for the six-month period was $43.4 million, an increase of 49%.
As of June 30, NI had $368 million in cash and short-term investments.
NI currently expects third quarter revenue in the range of $304 million to $334 million.
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