National Instruments reports results for first quarter 2011

US manufacturer National Instruments, which produces automated test equipment and virtual instrumentation software, has announced first quarter revenue for of $238m (£145.4m), marking a new first-quarter record and a 24 per cent increase year over year.

Also in 2011’s first quarter, the company’s number of orders greater than $20,000 grew 29 per cent year over year and the average order size reached a new first-quarter record of approximately $4,000.

Net income was $30.5m, with fully diluted earnings per share of $0.25, while non-GAAP net income was $33.9m, with non-GAAP fully diluted earnings per share of $0.28.

GAAP gross margin increased 50 basis points year over year to total 77.9 per cent, while non-GAAP gross margin reached an all-time record of 78.5 per cent, representing an increase of 60 basis points year-over-year.