- National Instruments announced second quarter 2018 revenue of $341 million, up 7 percent year over year.
- NI expects third quarter revenue to be in the range of $325 million to $355 million.
# Second Quarter (Q2) 2018 Highlights
- Revenue of $341 million, up 7 percent year over year
- GAAP gross margin of 76 percent
- Non-GAAP gross margin of 78 percent
- GAAP net income of $31 million, up 23 percent year over year
- Non-GAAP net income of $45 million, up 49 percent year over year
- EBITDA of $51 million
GAAP : Generally Accepted Accounting Principles.
EBITDA : Earnings before interest, income taxes, depreciation and amortization
In Q2 2018, the value of the company’s total orders was up 11 percent year over year; orders under $20,000 were up 6 percent year over year; and orders over $20,000 were up 16 percent year over year.
GAAP net income for Q2 was $31 million, and non-GAAP net income was $45 million.
EBITDA, or Earnings Before Interest, Taxes, Depreciation and Amortization, was $51 million for Q2.
In Q2, GAAP gross margin was 76 percent and non-GAAP gross margin was 78 percent. Total GAAP operating expenses were $222 million, up 7 percent year over year. Total non-GAAP operating expenses were $212 million, up 2 percent year over year. GAAP operating margin was 11 percent in Q2, with GAAP operating income of $37 million, up 29 percent year over year. Non-GAAP operating margin was 16 percent in Q2, with non-GAAP operating income of $55 million, up 52 percent year over year. Through the first six months of 2018, GAAP operating expenses were $431 million, up 5 percent year over year, and non-GAAP operating expenses were $418 million, up 2 percent year over year. GAAP operating income through the first six months of the year was $65 million, up 28 percent year over year, and non-GAAP operating income was $94 million, up 46 percent year over year.
As of June 30, 2018, NI had $428 million in cash and short-term investments. During the second quarter, NI paid $30 million in dividends. The NI Board of Directors approved a quarterly dividend of $0.23 per share payable on Sept. 4, 2018, to stockholders of record on Aug. 13, 2018.
Geographic revenue in U.S. dollar terms for Q2 2018 compared with Q2 2017 was up 7 percent in the Americas, up 5 percent in APAC and up 9 percent in EMEIA. The impact of foreign currency exchange had a positive impact in Q2.
The company’s non-GAAP results exclude the impact of stock-based compensation, amortization of acquisition-related intangibles, acquisition-related transaction costs, restructuring charges, and capitalization and amortization of internally developed software costs.