National Instruments announced Q4 GAAP revenue of $278 million, an increase of 11 percent year-over-year. GAAP net income was $24.3 million in Q4. NI graphical system design products, which represented about 95 percent of the company's product portfolio, had approximately 14 percent year-over-year revenue growth in Q4 2011. Sales of NI instrument control products, which represented approximately 5 percent of NI revenue in the quarter, were down approximately 16 percent year-over-year in Q4 2011.

Geographically, revenue in U.S. dollar terms for Q4 2011 compared to Q4 2010 was up 9 percent in the Americas, excluding acquisitions, up 3 percent in Europe and up 11 percent in Asia. In local currency terms, revenue was up 5 percent in Europe and up 8 percent in Asia. Including acquisitions, the Americas revenue was up 21 percent.

Full-year 2011 GAAP revenue was $1.02 billion, up 17 percent year-over-year. Annual GAAP net income was $94 million.