NI reports record quarterly and annual revenue
National Instruments has announced full year 2010 revenue of $873million, a year on year increase of 29%. Q4 revenue was reported at $250m, a new quarterly revenue record and a 24% year on year increase. This exceeded the company's guidance of between $230m and $244m set in October 2010.
"I am extremely pleased with the significant demand we saw for our products through 2010," said Dr James Truchard, co founder, president and ceo. "I believe our long term focus on innovation and our expanding product and services portfolio have created significant new opportunities for NI."
Alex Davern, evp, coo and cfo, said that as part of NI's investment for 2011, it is budgeting to increase R&D personnel by 19% and field sales force by 24%. Overall headcount is budgeted to increase by 17%. NI expects strong Q1 year on year revenue growth, with anticipated revenue between $230m and $244m.
