July 30, 2008 - National Instruments reported record quarterly revenue of $210.5 million, up 17 percent year-over-year, in the second quarter of 2008. This was at the high end of NI's guidance of between $198 million and $210 million. For the first half of 2008, the company reported revenue growth of 15 percent as compared to the first half of 2007.
Net income for Q2 2008 was $24.7 million, up 19 percent from Q2 last year, representing diluted earnings per share (EPS) of $0.31. Net margin was 12 percent in line with Q2 last year. Non-GAAP net income was $29.1 million, up 17 percent from Q2 last year, with fully diluted EPS of $0.37. Non-GAAP net margin was 14 percent in line with Q2 last year. The company's non-GAAP results exclude the impact of both stock-based compensation and the amortization of acquisition-related intangibles. Reconciliations of the company's GAAP and non-GAAP results are included as part of this news release.
"Our R&D investment in system-level platforms like PXI and CompactRIO helped drive the accelerated growth of our large orders in Q2, leading to record revenue and 17 percent revenue growth," said Dr. James Truchard, NI president and CEO. "Our expanding product portfolio combined with our commitment to grow the field sales force should help us continue to expand into new application areas."
