- National Instruments (NI) announced first quarter (Q1) 2018 revenue of $312 million, up 4 percent year over year.
- NI currently expects Q2 revenue to be in the range of $320 million to $350 million.
# NI Q1 2018 Highlights :
- Revenue of $312 million up 4 percent year over year
- GAAP gross margin of 76 percent and non-GAAP gross margin of 77 percent
- GAAP net income of $24 million, up 34 percent year over year
- Non-GAAP net income of $34 million, up 26 percent year over year
- EBITDA of $46 million
GAAP : Generally Accepted Accounting Principles.
EBITDA : Earnings Before Interest, Taxes, Depreciation and Amortization.
In Q1 2018, the value of the company’s total orders was up 5 percent year over year : orders under $20,000 were up 2 percent year over year, and orders over $20,000 were up 7 percent year over year.
GAAP net income for Q1 was $24 million, and non-GAAP net income was $34 million. EBITDA, or Earnings Before Interest, Taxes, Depreciation and Amortization, was $46 million for Q1.
In Q1, GAAP gross margin was 76 percent and non-GAAP gross margin was 77 percent. Total GAAP operating expenses were $209 million, up 4 percent year over year. Total non-GAAP operating expenses were up 4 percent year over year at $199 million . GAAP operating margin was 9 percent in Q1, with GAAP operating income of $28 million, up 26 percent year over year. Non-GAAP operating margin was 13 percent in Q1, with non-GAAP operating income of $40 million, up 17 percent year over year.
Geographic revenue in U.S. dollar terms for Q1 2018 compared with Q1 2017 was up 1 percent in the Americas, flat in APAC and up 11 percent in EMEIA. Excluding the impact of foreign currency exchange, revenue was up 1 percent in the Americas, down 4 percent in APAC and up 5 percent in EMEIA.
As of March 31, 2018, NI had $415 million in cash and short-term investments. During Q1, NI paid $30 million in dividends.
The company’s non-GAAP results exclude the impact of stock-based compensation, amortization of acquisition-related intangibles, acquisition-related transaction costs, and restructuring charges.