NI reports record first quarter revenue
National Instruments has announced Q1 non GAAP revenue of $262million, a new first quarter record for the company and a 10% increase from Q1 2011.
Orders were said to be up 13% year over year in Q1, with backlog increasing by $6m. Orders greater than $20,000 also grew 25% year over year and the average order size reached a first quarter record of approximately $4,400.
NI also won the largest application sale in the history of the company during this quarter. Dr James Truchard, co founder, president and ceo, said: "I believe there has been a significant transition toward our graphical system design approach, which involves technology that harnesses productive software and modular hardware.
"I am excited to see our customers using LabVIEW to design their test and control systems and leading the industry to the era of software designed instrumentation."