- National Instruments (NI) informs investors that it currently expects its sales for the second quarter of 2020 to be between $295 and $315 million.
- This, at the halfway point, represents a 9 per cent year-on-year decline in revenues and a 7 per cent organic decline in revenues year-on-year.
When the Texan company released its results for the first quarter of 2020, it preferred not to provide a revenue forecast for the second quarter of 2020, given the high level of uncertainty regarding the impact of the COVID-19 pandemic on industrial activity worldwide.
The second quarter of its 2020 fiscal year was marked by the announcement on June 2 of the acquisition by National Instruments of the Israeli company OptimalPlus, which specializes in data analysis software for the semiconductor, automotive and electronics industries.
The transaction, valued at $365 million, is expected to close early in the third quarter of 2020. The transaction will be financed through a combination of cash and debt. As at May 31, 2020, NI had $ 606 million in cash and short-term investments.