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January 2, 2009
National Instruments drops revenue forecast
National Instruments said this morning its fourth-quarter revenue will come in lighter than last year and short of even scaled-back expectations.
The company now expects revenue of $202 million, 1 percent less than the fourth quarter last year. For the entire year, revenue should rise around 11 percent, it said in a release.
The recession here and the slowing economy worldwide has forced industrial customers to slow their spending. National Instruments last month scaled back its forecast to account for the slowdown. Today, it said it would come up $2 million short of its more conservative guidance.
A late-year pause in purchasing by its customers, while expected, proved steeper than National Instruments had forecast. The company said about $5 million in orders it expected to ship in December have been delayed.
Executives have pushed new product development to help break the company’s reliance on global industrial spending trends. While National Instruments sales still rely on such spending, the company’s efforts have had some success, including 2008 revenue growth despite a leading index showing decreased purchases by manufacturers and other heavy industry.
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July 29, 2008
National Instruments' second quarter tops estimates
National Instruments’ newer products have helped loosen its ties to industrial-spending trends, and that helped the company produce produce better than expected results in the second quarter despite a slowing economy.
The company reported revenue of $210.5 million, up 17 percent from the $179.5 million in the same period last year.
Net income increased to $24.7 million, an almost 19 percent increase from $20.8 million last year. On a per-share basis, earnings increased to 31 cents from 26 cents last year.
Wall Street expected earnings of 30 cents per share on revenue of $204 million, according to Thomson First Call.
Sales of National Instruments’ traditional test and measurement products typically followed the ups and downs of the global purchasing managers index, or PMI, a key measure of industrial activity.
The company has worked to break that cycle in recent years by developing new products, including technologies that control and automate various research, engineering and manufacturing tasks.
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