AUSTIN, TX -- NI today announced fourth-quarter revenue rose 0.5% year-over-year to $334 million. 

GAAP net income was $32 million, down 26% from a year ago.

Core revenue rose 4.3% year-over-year, adjusting for currency fluctuations and excluding the impact of NI’s largest customer. 

During the period, NI received $10 million in orders from its largest customer, up 25% from 2014. Excluding the customer, order growth was flat for the quarter, with orders under $20,000 down 5% year-over-year; orders between $20,000 and $100,000 up 1% and orders above $100,000 up 9%.

GAAP gross margin was 74% and non-GAAP gross margin was 75% for the quarter. Total GAAP operating expenses were $198 million, up 2%. Operating margin was 15% and operating income was $50 million, down 9%. 

“Despite the revenue headwinds, the strength of our business model has allowed us to deliver strong gross and operating margins for the year," said Dr. James Truchard, NI president, CEO and cofounder. "Our platform-based approach, built around highly differentiated software, has created a large ecosystem of customers, partners and technologies that are key drivers to the long-term growth and profitability of the company. The recent convergence of technology has led to an explosion in the amount of data required to characterize systems. Our differentiated software-defined platform puts us at the forefront as we empower engineers to solve their unique challenges through our flexible tools designed specifically to measure, process and connect to these sources of Big Analog Data.”

Geographic revenue in US dollars was down 4% in the Americas, up 3% in EMEIA and up 3% in APAC. In constant currency terms, revenue was down 1% in the Americas, up 8% in EMEIA and up 9% in APAC. 

NI guided for first quarter revenue in the range of $290 million to $320 million. It expects a stronger US dollar will reduce the company’s year-over-year dollar revenue growth rate by approximately 400 basis points in the first quarter and approximately 200 basis points for the rest of the year.

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