National Instruments reports record Q2 revenue up 27%

JULY 28--National Instruments (Austin, TX; www.ni.com) reported second-quarter revenue of $127 million, an increase of 27% compared to the second quarter of 2003.

Jul 28th, 2004

JULY 28--National Instruments (Austin, TX;www.ni.com) reported second-quarter revenue of $127 million, an increase of 27% compared to the second quarter of 2003. Operating income was up 70% from Q2 2003 and fully diluted earnings per share for Q2 were $0.14 with net income of $11.4 million, up 53% from Q2 2003. The company had strong growth in all regions, with sales growth of 23% in Asia, 27% in the Americas, and 30% in Europe. This represents the company's third consecutive quarter of record revenues.

The company also announced a quarterly dividend of $0.05 per share on its common stock payable on Aug. 30, 2004, to shareholders of record on Aug. 9, 2004. As of June 30, 2004, the company had $192 million of cash and short-term investments. "I am very pleased with our new product execution in Q2, highlighted by record new product output from R&D," said James Truchard, NI CEO. "These new products, combined with the success of our strategic platforms including LabVIEW, PXI, and Compact FieldPoint, are taking virtual instrumentation deeper into test, design, and control."

National Instruments will hold its 10th annual NIWeek conference August 17-19, 2004, in Austin, TX. NIWeek is a key event for launching new products and meeting with customers and strategic partners. The event will kick off with a keynote address by Tim Dehne, senior vice president of research and development, where the company will introduce and demonstrate major new products that expand NI's market opportunity.

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