Tough times for test industry, says NI
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Q2 has been described by National Instruments as a 'difficult' quarter, not only for the company but for the test and measurement industry as a whole.
The Texas-based firm today announced Q2 revenue of $296million, a modest 1% increase over the same period last year. However, Q2 earnings dropped 45% on a decline in big orders.
NI said its level of large orders above $100,000 was down 30% year over year, while orders between $20,000 and $100,000 grew 4% year over year.
"Although the test and measurement industry had a challenging quarter, we were able to grow revenue while executing disciplined cost management," said Dr James Truchard, pictured, NI's president and ceo.
"Thanks to the efforts of our employees, we have seen accelerated growth in customer leads and opportunities for our strategic product platforms oriented around LabVIEW despite the fact that customer budgets are tight."
NI says it will continue to be conservative in planning for Q3 due to 'weak industry conditions'.
The company expects revenue for the quarter to be between $265 and $295m, a decrease of 3% year over year.
