National Instruments’ results for the third quarter of 2019

  • National Instruments (NI) reports sales of $340 million for the third quarter of 2019.
  • NI expects its sales for the fourth quarter of 2019 to be between $345 million and $375 million.

# NI Q3 2019 Highlights

  • Revenue of $340 million, down 2 percent year over year and up 2 percent sequentially
  • GAAP net income of $52 million, up 20 percent year over year
  • Non-GAAP net income of $58 million, down 3 percent year over year
  • GAAP net income up 5 percent year over year through first nine months
  • EBITDA of $84 million for a third quarter

National Instruments (NI) announced Q3 2019 revenue of $340 million, down 2 percent year over year and up 2 percent sequentially.

In Q3 2019, the value of the company’s total orders was down 5 percent year over year; orders under $20,000 were down 6 percent year over year; and orders over $20,000 were down 4 percent year over year.

GAAP net income for Q3 was $52 million, and non-GAAP net income was $58 million. EBITDA, or Earnings Before Interest, Taxes, Depreciation and Amortization, was $84 million for Q3.

Geographic revenue in U.S. dollar terms for Q3 2019, compared with Q3 2018, was flat in the Americas, down 2 percent in APAC and down 4 percent in EMEIA. Excluding the impact of foreign currency exchange, revenue was flat in the Americas, flat in APAC and down 2 percent in EMEIA.

The company’s non-GAAP results exclude, as applicable, the impact of stock-based compensation, amortization of acquisition-related intangibles, acquisition-related transaction costs, taxes levied on the transfer of acquired intellectual property, foreign exchange loss on acquisitions, restructuring charges, tax reform charges, disposal gains on buildings and related charitable contributions, and capitalization and amortization of internally developed software costs.