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National Instruments Announces Record Revenues and IncomeNet Income Up 59 Percent Over Second Quarter of 1996 Austin, Texas -- July 22, 1997 -- National Instruments (Nasdaq: NATI) today announced record revenues and income for the second quarter of fiscal year 1997. Revenues for the second quarter were $60.1 million, up 20 percent from $50.2 million in the second quarter of 1996, and up 10 percent from the $54.6 million reported in the first quarter of 1997. Net income for the quarter increased by 59 percent to $8.6 million, or $0.38 per share, compared to net income of $5.4 million, or $0.25 per share, in the second quarter of 1996. Excluding a charge associated with the Georgetown Systems (GSI) acquisition in the second quarter of 1996, pro-forma net income would have increased by 41 percent over the same period last year. Net income for the second quarter of 1997 was up 13 percent from the immediately prior quarter. For the six months ended June 30, 1997, revenues were $114.7 million, compared with $96.6 million in the six-month period a year earlier, a 19 percent increase. Net income for the six-month period increased 48 percent to $16.1 million, or $0.72 per share. Excluding the GSI acquisition charge in 1996, the year-over-year increase would have been 39 percent. New products that fueled growth in the second quarter of 1997 include the release of significant upgrades of LabVIEW software for seven computing platforms, as well as new PCI-based data acquisition products, and a new >family of PC-based virtual oscilloscopes, arbitrary waveform generators, and digital multimeters. "We are pleased with the positive impact of our new products on our top-line growth," noted Dr. James Truchard, President and CEO. "Our latest version of LabVIEW has been well-received, as has our new line of PCI-based products." National Instruments manufactures software and hardware products for PCs and workstations that scientists and engineers use to build virtual instrumentation systems for a variety of applications and industries. The company's common stock is traded on the Nasdaq Stock Market under the Symbol: NATI. More information on National Instruments is available from the company's SEC filings or by contacting the companyís Investor Relations Department at 6504 Bridge Point Parkway, Austin, Texas 78730-5039, (512) 349-5090. General company, product and financial information can be accessed through the National Instruments web site at www.ni.com The condensed consolidated statement of income and balance sheets to follow.
More information on National Instruments trademarks National Instruments Condensed Consolidated Balance Sheets (in thousands)
Condensed Consolidated Statements of Income (in thousands, except per share data)
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