NI posts new record income for Q4: News from National Instruments

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National Instruments has reported record fourth quarter revenue of $137 million, a 9% sequential increase from Q3 2004. Fully diluted earnings per share for Q4 2004 were $0.20 with record net income of $16.5 million, up 47% from Q4 2003. For 2004, revenue totalled $514 million, up 21% from $426 million in 2003, marking record annual revenue for National Instruments and the company's 27th year of revenue growth.

Fully diluted earnings per share (EPS) for 2004 were $0.59 with net income of $49 million, a 46% increase over 2003.

During Q4, the company added $26 million in net cash and short-term investments, bringing the total as of 31st December 2004, to $227 million.

The company also announced a quarterly dividend of $0.05 per share on its common stock payable on 28th February 2005, to shareholders of record on 7th February 2005.

'Our strategic investment in R and D paid off with a record number of new products released in 2004', said Dr James Truchard, NI President and CEO.

'I am pleased with the progress the company has made in establishing strategic new growth areas for virtual instrumentation, such as high-performance measurements, industrial and machine control, and graphical system design, where we have seen early success'.

'With a 21% increase in revenue year-over-year and 46% increase in net income, we are pleased to deliver on our goal of driving operating leverage in 2004', said NI CFO Alex Davern.

'We have passed the milestone of half a billion dollars in revenue, making significant progress toward our goal of reaching $1 billion in revenue in 2008'.

Geographically, the growth of revenue in US dollar terms for Q4 2004 compared with Q4 2003 was as follows: up 15% in the Americas and up 11% in Europe and Asia, equalling overall growth of 12%.

In local currency terms, revenue was up 1% in Europe and up 10% in Asia, for an overall local currency growth of 8%.

For the full year of 2005, the company is budgeting for record revenue and double-digit revenue growth with fully diluted EPS of between $0.80 and $0.90.

This corresponds to an EPS increase of between 35 and 50% in 2005.

This budget assumes mid-teen operating margins for the year and a tax rate of 24%.

For Q1 2005, NI currently expects revenue to be relatively flat sequentially and estimates fully diluted EPS to be in the range of $0.16 to $0.20 per share. Request free introductory details about products from National Instruments....

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News Release from: National Instruments Edited by the Electronicstalk Editorial Team on 1 February 2005

NI posts new record income for Q4

National Instruments has reported record fourth quarter revenue of $137 million, a 9% sequential increase from Q3 2004.

Note: A free brochure or catalogue is available from National Instruments about its services. Click here to request a copy.

News Release from: National Instruments
Edited by the Electronicstalk Editorial Team on 1 February 2005