News Release from: National Instruments
Edited by the Electronicstalk Editorial Team on 31 October 2005
Instrument sales drive record quarter for NI
National Instruments has reported third quarter revenue of $142 million, an increase of 13% compared with the third quarter of 2004.
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National Instruments has reported third quarter revenue of $142 million, an increase of 13% compared with the third quarter of 2004. This represents the highest quarterly revenue in the company's history, fuelled by new product revenue and record revenue from strategic PXI and modular instruments platforms. GAAP fully diluted earnings per share (EPS) for Q3 were $0.18 with GAAP net income of $14.4 million, up 81% from Q3 2004.
The company also announced a quarterly dividend of $0.05 per share on its common stock payable on 28th November 2005, to shareholders of record on 7th November 2005.
As of 30th September 2005, the company had $181 million of cash and short-term investments.
'Our investment in R and D continued to help drive virtual instrumentation into higher performance measurements and industrial control applications', said Dr James Truchard, NI President and CEO.
'LabView 8, a significant upgrade to our flagship software product, will further support our expansion in test, design and control, especially in large applications and distributed systems'.
'Now LabView users can design, distribute and synchronise intelligent systems in real time'.
'We turned in a solid quarter with the highest quarterly revenue in the company's history', said Alex Davern, NI CFO.
'For the rest of the year and into 2006 we will be focused on continuing to grow the top line while managing the growth in our expenses to continue to generate operating leverage'.
Geographically, the growth of revenue in US dollar terms for Q3 2005 compared with Q3 2004 was as follows: up 16% in the Americas, up 6% in Europe and up 15% in Asia, giving overall growth of 13%.
In local currency terms, revenue was up 4% in Europe, up 8% in Asia and up 15% in the Americas, for an overall local currency growth of 10%.
NI expects record quarterly revenue in Q4 2005 of between $152 million and $157 million, representing 11 to 15% year-over-year revenue growth.
The company expects to report fully diluted EPS of between $0.20 and $0.24. Request free introductory details about products from National Instruments....
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