National Instruments says its preliminary estimate for fourth-quarter revenue is a quarterly record of $277 million, an 11 percent year-over-year increase compared to fourth quarter of 2010. It is $3 million, or 1 percent, below the low-end of the guidance that the company provided on Oct. 26, 2011 and the company expects to report an annual revenue record of approximately $1.02 billion
The company saw the greatest reduction in year-over-year revenue growth in Europe, where revenue growth in US dollars dropped from 25 percent year-over-year in third quarter to 3 percent in the fourth quarter. In Asia and in the Americas, year-over-year organic revenue growth in the fourth was approximately 10 percent. Including acquisitions, year-over-year revenue growth in the Americas was approximately 20 percent.
NI graphical system design products, which represent approximately 95 percent of the company's product portfolio, had approximately 14 percent year-over-year revenue growth in fourth quarter of 2011. Sales of NI instrument control products, which represented approximately 5 percent of NI revenue in the quarter, were down approximately 15 percent year-over-year in fourth quarter 2011.
The company had $336 million in cash and cash equivalents at the end of September 2011.