National Instruments has reported quarterly revenue in the second quarter of 2007 of $179.5million, up 12 per cent from Q2 2006. Net income was $21million, up 22 per cent from Q2 2006. For Q2 2007, operating margin and net margin were 13.5 per cent and 11.6 per cent, respectively.
For the first half of 2007, the company reported revenue growth of 12 per cent as compared to the first half of 2006. In addition, the company reported net income of $40million, up 34 per cent.
NI virtual instrumentation and graphical system design products, which constitute the vast majority of the company's product portfolio, had 15 per cent year-on-year revenue growth in Q2 2007. This represents another strong quarter of revenue growth from these products and an increase in their year-on-year growth rate from Q1 2007. NI believes this continued strong growth validates the company's strategy of increased investment in R&D to drive new product success.
In contrast, sales of NI instrument control products, while flat sequentially, were down 8 per cent year-on-year in Q2, compared to a 6 per cent year-on-year decline in Q1 2007.
Dr James Truchard, NI president and CEO, said: "I am pleased with our significant progress in system-level design in both virtual instrumentation and embedded industrial applications. LabVIEW FPGA and our highly leveraged C Series hardware architecture have helped us establish a unique position in test, control and design. LabVIEW and its many toolkits, including signal processing and RF modulation, have played a significant role in driving our modular instrument sales."
