Product category:
Board-Level Instruments
News Release from: National Instruments
Edited by the Electronicstalk Editorial
Team on 27 January 2006
NI posts record quarterly revenue
National Instruments has reported record quarterly revenue for the fourth quarter of $160 million, a 17% increase over Q4 2004 and a 13% sequential increase from Q3 2005.
National Instruments has reported record quarterly revenue for the fourth quarter of $160 million, a 17% increase over Q4 2004 and a 13% sequential increase from Q3 2005 Fully diluted earnings per share for Q4 2005 was 26 cents with record quarterly net income of $21 million, up 27% from Q4 2004
This article was originally published on Electronicstalk on 21 Mar 2001 at 8.00am (UK)
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For Q4 2005, operating margin was 17%, showing significant progress toward the company's long-term goal of 18% operating margin.
For 2005, revenue totalled $572 million, up 11% from $514 million in 2004, marking record annual revenue and the company's 28th year of revenue growth.
Fully diluted earnings per share (EPS) for 2005 was 76 cents with record annual net income of $62 million, a 27% increase over 2004, and an operating margin of 14% up from 12% in 2004.
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The company also announced today a 20% increase in its dividend to 6 cents per share of its common stock payable on 27th February 2006, to shareholders of record on 6th February 2006.
Additionally, during Q4, the company used $8 million for the repurchase of 315,000 shares of the company's common stock at an average price of $25.
NI continues to have a very strong balance sheet, with $176 million in net cash and short-term investments and no debt as of 31st December 2005.
"Given the record year for revenue and profits in 2005 and our very strong balance sheet, the Board of Directors has approved a 20% dividend increase to 6 cents per share", said NI CFO Alex Davern.
"Our strategic investments in R and D over the last several years have paid off with a record number of new products released in 2005", said Dr James Truchard, NI President and CEO.
"I am pleased with the progress the company has made in expanding market share, while establishing strategic new growth areas for virtual instrumentation, such as high-performance measurements, RF instrumentation, and industrial and machine control".
"The release of LabView 8 in October represents a new milestone for virtual instrumentation in terms of performance, flexibility and ease-of-use", said John Graff, Vice President Marketing and Customer Operations.
"We are very pleased with the initial response from customers and the industry, including LabView 8 being named Product of the Year by Electronic Products as well as Innovation of the Year finalist by EDN".
"With a 17% increase in revenue and a 27% increase in net income, we continued to drive operating leverage in Q4", said Alex Davern.
"For the full year, we generated significant operating leverage, increasing our operating margin from 12% of revenue in 2004 to 14% in 2005".
"Going into 2006, we are focused on continuing to make progress toward our long-term goal of 18% operating margin".
Geographically, the growth of revenue in U.S.
dollar terms for Q4 2005 compared with Q4 2004 was as follows: up 18% in the Americas, up 10% in Europe, and up 25% in Asia, equaling overall growth of 17%.
In local currency terms, revenue was up 5% in Europe and up 24% in Asia, for an overall local currency growth of 14%.
For Q1 2006, NI currently expects revenue to be in the range of $150 million to $156 million, equivalent to revenue growth of between 16 and 20% year-over-year.
The company currently expects GAAP fully diluted EPS to be in the range of 13 cents to 17 cents per share and expects non-GAAP fully diluted EPS to be in the range of 18 cents to 22 cents per share. Request free introductory details about products from National Instruments ...
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