National Instruments announces Q3 record revenue of $290m

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National Instruments has announced Q3 revenue of $290 million, a third quarter revenue record and a 7 per cent increase from Q3 2011 on a non-GAAP basis. In constant currency terms, Q3 revenue increased 11 per cent from Q3 2011. Backlog decreased by $11 million during the quarter. In Q3, the company's orders greater than $20,000 grew 11 per cent year-over-year and average order size reached approximately $4,900. The company's orders less than $20,000 decreased by 4 per cent year-over-year, reflecting the significant decline in the Global PMI in Q3.

EBITDA, or Earnings Before Interest, Taxes, Depreciation and Amortisation, was $43 million, or $0.35 per share for Q3 2012. GAAP net income for Q3 was $24 million, with fully diluted earnings per share (EPS) of $0.20, and non-GAAP net income was $32 million, with non-GAAP fully diluted EPS of $0.26.

‘We are pleased with our ability to increase our Q3 non-GAAP operating margin over last year,’ said Alex Davern, NI CFO. ‘With that said, we expect the industrial economy to remain very weak into 2013, and we will continue to focus on carefully managing expenses.’

NI expects revenue for Q4 2012 to be between $265 million and $295 million.

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