AUSTIN, TX – National Instruments reported fourth quarter 2016 revenue of $329 million, down 2% year-over-year.

During the period, NI received $2 million in orders from its largest customer, compared with $9 million in orders from this customer in the fourth quarter of 2015.

GAAP net income was $34 million, up 6.3% year-over-year. GAAP operating expenses were $197 million, down 1% compared to the same quarter in 2015.

“Looking to 2017, my top priorities will be growing revenue, leveraging our investments in our platform and people, and improving our operating margins,” said Alex Davern, NI president and CEO.

“While we were disappointed that we missed the midpoint of our revenue guidance in the fourth quarter,” said John Roiko, NI interim CFO, “we did deliver 3% core revenue growth, maintained our strong gross margins, and kept our non-GAAP operating expenses and EPS flat year-over-year. With an increased focus on growing revenue and improving our operating margin, we are budgeting for a low single digit percent decline in headcount for 2017.”

Geographic revenue in US dollars was up 2% in the Americas, up 1% in APAC, and down 7% in EMEIA year-over-year.

As of Dec. 31, NI had $358 million in cash and short-term investments.

Full-year 2016 revenue was $1.23 billion, flat with 2015. GAAP net income was $87 million down 8.4% year-over-year.

NI currently expects first quarter revenue in the range of $285 million to $315 million.

• Prev
• Next