Product category:
Board-Level Instruments
News Release from: National Instruments
Edited by the Electronicstalk Editorial
Team on 25 October 2006
Asian expansion drives record quarter
National Instruments has reported record revenue in Q3 2006 of $164 million, a 16% increase over Q3 2005.
National Instruments has reported record revenue in Q3 2006 of $164 million, a 16% increase over Q3 2005 Geographically, the growth of revenue in US dollar terms for Q3 2006 compared with Q3 2005 was as follows: up 11% in the Americas, up 14% in Europe and up 30% in Asia, equalling overall growth of 16%
This article was originally published on Electronicstalk on 21 Mar 2001 at 8.00am (UK)
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In local currency terms, revenue was up 10% in Europe and up 28% in Asia, for an overall local currency growth of 14%.
For the first nine months of 2006, the company reported revenue growth of 16% in US Dollar terms and 18% in local currency compared with the first nine months of 2005.
"I am pleased with our strong performance in the third quarter, driven by strong revenue growth in software and record revenue for many of our hardware products, including data acquisition, PXI, distributed I/O, machine vision and modular instruments", said Dr James Truchard, NI president and CEO.
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"We have continued to see a validation of our vision of graphical system design through customer success in test and embedded development".
"The introduction of LabView 8.20 builds on the success of LabView as a complete development platform to help engineers design, prototype and deploy their test, control and design applications".
GAAP fully diluted earnings per share for Q3 2006 was 23 cents with GAAP net income of $19 million, up 30% from Q3 2005.
Non-GAAP fully diluted EPS was 27 cents with non-GAAP net income of $22 million, up 48% from Q3 2005.
In addition, the company reported GAAP net income growth of 19% and non-GAAP net income growth of 41% for the first nine months compared with the prior year period.
Non-GAAP results exclude the impact of stock-based compensation and the impact of the amortisation of acquisition-related intangibles.
"I am pleased with our solid execution this year, delivering strong operating leverage while maintaining our investment in R and D", said Alex Davern, NI CFO.
"We remain committed to our long-term goal of 18% non-GAAP operating margin as we drive further operating efficiency in our business".
NI continues to have a very strong balance sheet, with $223 million in net cash and short-term investments as of 30th September 2006.
In Q3 2006, the company paid $16.5 million to repurchase 608,000 shares of its common stock at an average price of $27.16 per share.
The company also announced today a dividend of 6 cents per share on its common stock payable on 27th November 2006 to shareholders of record on 6th November 2006.
For Q4 2006, NI currently expects a record revenue quarter with revenue in the range of $177 million to $184 million.
Additionally, the company expects GAAP fully diluted EPS to be in the range of 26 cents to 31 cents per share and expects record non-GAAP profit with fully diluted EPS in the range of 30 cents to 35 cents per share.
In Q4 2006, the company expects the impact of stock-based compensation to be 3 cents per share and the impact of the amortisation of acquisition-related intangibles to be 1 cent per share. Request free introductory details about products from National Instruments ...
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