Well, here we are in December. As always it is an opportunity to review our performance over the past year as well as make adjustments and plans for next year.
The Great Recession
It has been a challenging year for most of us, so I thought I’d offer a little humor. During my 20 year career at National Instruments, our business mostly looked like this. That was until year year – and the Great Recession.
After several years of steady growth in our revenue, we began to see the effects of the Great Recession in the 4th quarter of 2008. This trend continued into 2009. And, although the decline has stopped, our business is significantly down from where it was a year ago.
Impact on our Partner Business
Unfortunately, this trend has also adversely affected our Alliance/VAR business. For the past several years, we not only growing revenue, but actually increased it as a percentage of our business. But, as the recession took it’s toll, particularly on our larger system-level business which is commonly channeled by our partners, we’ve seen an adverse affect on our partner business.
OK, enough bad news. Next week we’ll talk about the chances of an economic recovery and what that will mean for NI and our partner business.