National Instruments reports first-quarter revenue up 26%

APRIL 29--National Instruments (NI; Austin, TX; www.ni.com) has reported first-quarter revenue of $125 million, an increase of 26% compared to the first quarter of 2003 and the highest quarterly revenue in NI history.

APRIL 29--National Instruments (NI; Austin, TX; www.ni.com) has reported first-quarter revenue of $125 million, an increase of 26% compared to the first quarter of 2003 and the highest quarterly revenue in NI history. Fully diluted earnings per share for Q1 were $0.16, with net income of $12.8 million, up 90% from Q1 2003.

The company also announced a quarterly dividend of $0.05 per share on its common stock payable on June 1, 2004, to shareholders of record on May 11, 2004. The dividend represents an increase of 50% compared to the previous quarterly dividend, which was equivalent to $0.0333 cents per share on a post-split basis.

"Our aggressive R&D investments throughout the economic downturn continued to pay off and position us well for future success," said James Truchard, NI CEO. "The measurement capabilities of virtual instruments are approaching or exceeding traditional instruments, with the added benefits of computer-based automation. Strong growth for LabVIEW 7 Express as well as PC-based data acquisition, PXI, Compact FieldPoint, machine vision, and modular instrumentation drove record quarterly revenue, demonstrating that virtual instrumentation has further penetrated mainstream measurement and automation applications."

National Instruments is a leader in virtual instrumentation--a concept that has changed the way engineers and scientists approach measurement and automation. Leveraging the PC and its related technologies, virtual instrumentation increases productivity and lowers costs through easy-to-integrate software, such as the NI LabVIEW graphical development environment, and modular hardware, such as PXI modules for data acquisition, instrument control, and machine vision.

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