National Instruments sees 3 per cent growth in 2013
National Instruments (NI) has reported revenue of $1.17 billion in 2013, up 3 per cent year-over-year. Its Q4 2013 results were $301 million.
NI president, Dr. James Truchard, commented: ’In 2013, NI continued to advance our software-based approach for test and measurement and deliver our 35th year of growth despite weakness in the industry. I believe we have made the investments necessary to build on our highly differentiated platform and I am focused on developing our high-performance management team in our quest to reach our goal of $2 billion in annual revenue.'
Revenue in US dollar terms for Q4 2013 compared to Q4 2012 was up 6 per cent in the Americas and up 14 per cent in Europe. However, revenue declined 15 per cent in East Asia because the majority of revenue from the NI's largest customer is recognised in this region, and revenue was down 20 per cent year-over-year in Emerging Markets primarily from a significant decline in orders over $100,000. The revenue from the company's largest customer has quartered from $16 million in Q4 2012 to $4 million in Q4 2013.
NI has also promoted Francis Griffiths to the newly created position of senior vice president of regional sales and marketing, and Scott Rust to senior vice president of research and development.