NI sees design business growing fastest

NI is seeing its embedded design platform business, which includes CompactRIO, growing faster than the business as a whole.

The company still derives majority of sales from its data acqusition and test product business which includes its PXIe modular instruments.

The embedded design platform business was launched 10 years ago and it now accounts for around a third of company sales revenues.

Two of its fastest growing product lines are the vector signal transceiver launched two years ago and the VirtualBench test platform launched in this year.

The company has reported Q3 revenue of $314m, up 8% year-over-year.

Sales in Europe were also up 8% in dollar terms.

The Americas grew by 2%, but the fastest growing region was East Asia at 33%.

“I am pleased with the record revenue delivered in the third quarter and the significant progress made toward improving our operating margin,” said Dr. James Truchard, NI president, CEO and co-founder.

“I remain optimistic about our long-term position in the industry, with new products released in Q3 adding capability to our platform to further differentiate our approach in automated test and address new opportunities in areas such as the Industrial Internet of Things.”

GAAP net income for Q3 was $40m million, and earnings before interest, taxes, depreciation and amortization, was $51m.

The company expects to deliver year-over-year revenue growth and operating leverage in Q4.