- National Instruments’ preliminary results for the first quarter of 2020 show revenues of $309 million, down less than 1% from a year ago.
- Organic revenue growth for the Texas-based company, excluding the impact of acquisitions and divestitures over the past twelve months, increased approximately 2% year-over-year.
For the first quarter, estimated organic growth in orders, defined as the growth in the value of the company’s orders excluding the impact of the acquisitions and divestitures mentioned above, increased by 1% year-over-year.
For the first quarter, the Americas recorded organic order growth of 8% year-on-year. Estimated orders in EMEIA (Europe and other regions of the world) were down 3%.
In the Asia Pacific region where the C0VID-19 epidemic has most disrupted purchasing behavior during the quarter, estimated orders were down 5% year-on-year in Q1. Estimated Chinese orders were down 12% year-on-year in Q1. However, as travel and other restrictions began to be lifted, activity returned to more normal levels in the last month of the quarter. As a result, estimated orders increased by 3% year-on-year.
« We are fortunate to have a strong and resilient business. While we believe the diversity of our business and our solid execution will allow us to navigate this crisis [related to the COVID-19 pandemic] while still making critical investments for long term growth, a high degree of uncertainty remains for the industrial economy, so we will continue to monitor our business closely as the environment evolves and adjust as necessary, », said Eric Starkloff, president and chief executive officer of National Instruments.