National Instruments announces record quarter
July 31, 2012
National Instruments (Austin, TX, USA) has reported record revenues of $292 million for the second quarter of 2012, an all-time revenue record and a 15 percent increase from the same period last year.
Orders were up 24 percent year-over-year in the second quarter, with backlog increasing by $16 million and short-term deferred revenue increasing by $5 million. In the second quarter of the year, the company's orders greater than $20,000 grew 40 percent year-over-year, and the average order size reached a new record of approximately $5,300.
"The strong growth in larger orders and the record quarter for PXI products illustrate the increased acceptance of our technology, and I remain optimistic that our strategic investments over the last decade will support our goal of achieving $2 billion in annual revenue by 2016," said Dr. James Truchard, co-founder, president and CEO of the company.
Hard on the heels of the financial disclosure came the news that the company is making a significant expansion of its research and development center in Penang. Over the next five years, National Instruments plans to recruit 250 engineers in the Penang center in electrical, mechanical and engineering management.
Once completed, the expansion will make National Instruments Penang the largest research and development center for the company outside of its headquarters in Austin, Texas.
National Instruments expects revenue for the third quarter to be between $272 million and $302 million.
-- Dave Wilson, Senior Editor, Vision Systems Design
