Total : 191 View more »
Vision Systems Design - No Famine of Ideas at NIWeek - Technologies, products, and systems go on show at NIWeek 2009
The X Prize Foundation, Google Inc., Lego Systems, National Instruments, and Wired's GeekDad announced "MoonBots: A Google Lunar X Prize Lego Mindstorms Challenge" at National Instruments' NIWeek 2009. The new contest will challenge small teams comprised of children and adults to design, program,
Tim Dehne, until recently a longtime executive with National Instruments Inc, has joined the board of directors of Asset InterTech Inc, a supplier of boundary-scan and embedded-instrumentation tools. Over a career stretching more than 21 years at NI, Dehne led global marketing and R&D at the
National Instruments Introduces Video Test Solution for Multimedia Device Testing : Electronics News from Electronic Specifier
Total : 66 View more »
AUSTIN, Texas, Nov 03, 2009 /PRNewswire-FirstCall via COMTEX/ --
National Instruments (Nasdaq: NATI) today announced the expansion of its hardware-in-the-loop (HIL) simulation platform, which includes numerous products that optimize embedded system validation. During the past six months alone, NI has released nearly 40 new products targeted at delivering flexible HIL solutions to embedded control system developers within a variety of industries. The portfolio of NI HIL simulation tools helps engineers maintain reliability and time-to-market requirements while reducing costs, even as their products become more complex.
"We continually hear that engineers are struggling with traditional test systems to meet increasing product complexity and performance requirements within tight budgets and timelines," said Mike Santori, business and technology fellow at National Instruments. "These engineers need an HIL simulation platform that is highly productive out of the box but also open and flexible to adapt to fast-changing testing demands. The NI HIL simulation platform provides unprecedented openness and performance for HIL applications. The platform's highly flexible architecture helps engineers address a wide range of applications, from those in automotive and aerospace to new fields such as alternative energy and medical device development."
Recent product releases include NI VeriStand software for real-time testing and simulation; the NI TestStand 4.2 automated test management environment including support for Python scripts; a new family of fault insertion units; NI-XNET high-performance CAN and FlexRay bus interfaces optimized for HIL applications; ARINC 429, MIL-STD-1553 and AFDX (ARINC 663) military and aerospace avionics bus interfaces; low-cost and high-performance real-time processor cards; and several other I/O interfaces. To ensure that applications can easily scale and meet evolving requirements, the NI HIL simulation platform supports third-party hardware interfaces and integrates with C, C++, .NET and Python programming languages. In addition to integrating seamlessly with the NI LabVIEW graphical system design environment, the platform works with a variety of modeling environments such as The MathWorks, Inc. Simulink((R) )software; ITI SimulationX; Maplesoft MapleSim; and Gamma Technologies GT-POWER.
Engineers can increase their system performance and flexibility while reducing overall costs by taking advantage of the open PXI hardware standard, advanced multicore technology and graphically programmed FPGA interfaces. Additionally, the platform's software-defined instrumentation approach makes it possible for HIL applications created with NI products to scale from low-cost desktop validation systems to multiprocessor distributed simulators, a benefit that provides engineers a flexible and cost-effective toolset for all HIL testing applications.
The platform delivers commercial off-the-shelf (COTS) solutions that offer alternatives to complex proprietary configurations and bulky, inefficient traditional simulation systems. In today's challenging economic climate, NI HIL simulation products are ideal for making projects more efficient and cost-effective for design engineers in multiple industries, from aerospace, alternative energy, automotive and consumer electronics to government, industrial transportation, mechatronics, medical technology and semiconductor manufacturing.
Readers can visit www.ni.com/hil to learn more about specific NI HIL simulation platform solutions.
About National Instruments
National Instruments (www.ni.com) is transforming the way engineers and scientists design, prototype and deploy systems for measurement, automation and embedded applications. NI empowers customers with off-the-shelf software such as NI LabVIEW and modular cost-effective hardware, and sells to a broad base of more than 30,000 different companies worldwide, with no one customer representing more than 3 percent of revenue and no one industry representing more than 15 percent of revenue. Headquartered in Austin, Texas, NI has more than 5,000 employees and direct operations in more than 40 countries. For the past 10 years, FORTUNE magazine has named NI one of the 100 best companies to work for in America. Readers can obtain investment information from the company's investor relations department by calling (512) 683-5090, e-mailing nati@ni.com or visiting www.ni.com/nati.
LabVIEW, National Instruments, NI, ni.com, NI TestStand and NI VeriStand are trademarks of National Instruments. Other product and company names listed are trademarks or trade names of their respective companies. Simulink((R)) is a registered trademark of The MathWorks, Inc.
Editor Contact: Hilary Marchbanks, (512) 683-5937
Reader Contact: Ernest Martinez, (800) 258-7022
SOURCE National Instruments
http://www.ni.com
Tags: aerospace alternative energy architecture automotive business commercial consumer electronics environment government hardware industrial investment magazine manufacturing medical military nasdaq products programming revenue semiconductors software technology texas trade transportation
Companies: National Instruments Corp. (NATI)
AUSTIN, Texas, Oct 27, 2009 /PRNewswire-FirstCall via COMTEX/ --
National Instruments (Nasdaq: NATI) reported quarterly revenue for Q3 2009 of $165 million, which represents an 8 percent sequential increase and is above the midpoint of the company's Q3 guidance given on Sept. 9. Orders were also strong sequentially, resulting in the company's end of quarter backlog increasing by $5 million in Q3. Net income for Q3 was $10 million, with fully diluted earnings per share (EPS) of $0.13. Non-GAAP net income was $15.4 million, with non-GAAP fully diluted EPS of $0.20.
The company's non-GAAP results exclude the impact of both stock-based compensation and the amortization of acquisition-related intangibles. Reconciliations of the company's GAAP and non-GAAP results are included as part of this news release.
"I am optimistic that National Instruments will emerge in a stronger leadership position because of our long-term focus through the recession," said Dr. James Truchard, NI president and CEO. "I believe our continued investment in innovation and new product development has further differentiated National Instruments from other players in the markets we serve, expanding our opportunity to grow as did our investment in the 2001 recession."
With Q3 2008 representing the highest revenue quarter in company history, NI had its toughest revenue compare in Q3 2009, and revenue was down 23 percent from a year-over-year perspective. In Q3 2009, NI virtual instrumentation and graphical system design products, which constitute the majority of the company's product portfolio, experienced a 23 percent year-over-year revenue decline. NI instrument control product sales, which represent approximately 7 percent of NI revenue, were down 28 percent year-over-year, and up sequentially by more than 20 percent, after four quarters of sequential decline. The strong sequential increase in NI instrument control revenue indicates that the overall test and measurement industry may have bottomed out in Q2 and begun a sequential recovery in Q3. Product revenue was $152 million, down 24 percent from Q3 2008, and software maintenance revenue was $13 million, down 9 percent year-over-year.
"We are pleased with how our business progressed in Q3, and it appears that the demand environment has improved meaningfully," said Alex Davern, NI CFO. "With that said, we remain cognizant that the industrial economy remains well below prior levels, and we will continue to focus on gaining market share and driving profit recovery."
Geographically, the company saw the effects of the slowdown worldwide. Revenue in U.S. dollar terms for Q3 2009 compared to Q3 2008 was down 22 percent in the Americas, down 30 percent in Europe and down 16 percent in Asia, equaling an overall revenue decline of 23 percent. In local currency terms, revenue was down 20 percent in Europe and down 13 percent in Asia, for an overall local currency decline of 19 percent year-over-year.
Total operating expenses for the quarter were down $20 million year-over-year, illustrating the strong fiscal discipline that has been exercised throughout the organization in response to the severe downturn in the global industrial economy. Included in Q3 operating expenses is a $2 million reduction of the company's accrual for litigation costs which resulted in a non-cash increase to income. At the NI investor conference at NIWeek in August, the company laid out its spending plans relative to various growth scenarios for 2010 and 2011. NI intends to drive operating leverage until the company's revenues recover to the record levels seen in 2008.
As of Sept. 30, total headcount was 5,169, a 3 percent year-over-year increase and an increase of 34 positions since June 30, 2009. The primary focus for headcount additions has been in R&D and field sales. These areas increased by 49 in Q3, while headcount in the rest of the company fell by 15 in Q3.
Cash flow from operations continued to be strong at $90 million for the first nine months of the year. As of Sept. 30, 2009, NI had $276 million in net cash and short-term investments, up $26 million from June 30, 2009. During Q3 2009, the company paid $9 million in dividends and used $3.3 million to repurchase 131,000 shares of its common stock at an average price of $25.09 per share. National Instruments announced that its Board of Directors declared a dividend of $0.12 per share on its common stock payable on Nov 30, 2009, to shareholders of record on Nov 9, 2009.
Q3 2009 Highlights
-- Quarterly revenue of $165 million, up 8 percent sequentially
-- Net income of $10 million
-- Non-GAAP net income of $15.4 million
-- Cash and short-term investments of $276 million
-- Total operating expenses for the quarter down $20 million year-over-year
-- New product releases, including, LabVIEW 2009, X Series data
acquisition, and NI wireless sensor networks
-- Record attendance at NIWeek 2009
Outlook and Specific Guidance for Q4 2009
After reaching a record low in Q1 2009, the quarterly average of the global Purchasing Managers Index (PMI) improved to 52 in Q3 indicating that the industrial economy expanded sequentially in Q3. However, the dramatic year-over-year decline in the global industrial economy over the last year and the current high levels of excess capacity suggest that it may take a considerable period of economic expansion for the industrial economy to recover fully to the levels seen a year ago.
For Q4, NI expects strong Q4 sequential revenue growth, with revenue expected to be between $190 million and $200 million. The company expects GAAP fully diluted EPS between $0.22 and $0.30, with non-GAAP fully diluted EPS expected to be between $0.30 and $0.38.
NI guidance assumes a non-GAAP effective tax rate of approximately 30 percent for Q4, which is significantly greater than the overall 2009 effective rate as the company now expects Q4 profit to be significantly greater than was anticipated earlier in the year. The increase in Q4 profit expectations results in a greater than anticipated concentration of the NI tax charge in Q4. For 2010, the company anticipates that its non-GAAP effective tax rate will be between 18 percent and 22 percent, and the company is using 20 percent for internal modeling.
In Q4, the GAAP to non-GAAP net adjustment is also expected to be elevated due to the high effective tax rate, and the adjustment is estimated to be $0.08 per share. In Q1 2010, the company anticipates that the GAAP to non-GAAP adjustment will return to a more normal level of approximately $0.06 per share.
Non-GAAP Results and Guidance Presentation
In addition to disclosing results determined in accordance with GAAP, NI discloses certain non-GAAP operating results and non-GAAP guidance that exclude certain charges. In this news release, the company has presented its net income and EPS for Q3 2009 and its guidance for Q4 2009 on a GAAP and non-GAAP basis. When presenting non-GAAP information, the company includes a reconciliation of the non-GAAP data to the GAAP data. Management believes that including the non-GAAP results assists investors in assessing the company's operational performance and its performance relative to its competitors. The company presents these non-GAAP results as a complement to results provided in accordance with GAAP, and these results should not be regarded as a substitute for GAAP. Management uses these non-GAAP measures to manage and assess the profitability and performance of its business and does not consider stock-based compensation expense or amortization of acquired intangibles that are all non-cash charges in managing its operations. Specifically, management uses non-GAAP measures to plan and forecast future periods, to establish operational goals, to compare with its business plan and individual operating budgets, to measure management performance for purposes of executive compensation including payments to be made under bonus plans, to assist the public in measuring the company's performance relative to the company's long-term public performance goals, to allocate resources and, relative to the company's historical financial performance, to enable comparability between periods. Management also considers such non-GAAP results to be an important supplemental measure of its performance.
Conference Call Information
Interested parties can listen to the Q3 2009 conference call today, Oct. 27, beginning at 4:00 p.m. CDT, at www.ni.com/call. Replay information is available by calling (888) 203-1112, confirmation code # 7611546, from Oct. 27 at 7:00 p.m. CDT through Nov. 2 at midnight CST.
Upcoming Events With the Financial Community
National Instruments will be participating in the following events with the financial community: a Non-Deal Roadshow with JPMorgan on Dec. 1 in Boston, Mass., the NASDAQ OMX 23rd Investor Program on Dec. 2 in London and the Credit Suisse Annual Technology Conference on Dec. 2 in Scottsdale, Ariz.
Forward-Looking Statements
This release contains "forward-looking statements," including statements related to emerging in a stronger leadership position as our business model has allowed us to continue to make strategic investments through the recession, our continued investment having further differentiated us from other players, creating a large opportunity for us to grow and gain market share in the recovery, overall test and measurement industry bottoming in Q2 and beginning a recovery in Q3, driving operating leverage until our revenues recover, that it may take a considerable amount of time for the industrial economy to recover fully, demand environment has improved meaningfully, focusing on gaining market share and driving profit recovery, our guidance for Q4 2009 with respect to revenue, GAAP and Non-GAAP EPS, the impact of stock based compensation and amortization of acquisition related intangibles and non-GAAP effective tax rate for Q4 2009 and 2010. These statements are subject to a number of risks and uncertainties, including the risk of further weakness or unexpected fluctuations in the global economy, delays in the release of new products, fluctuations in customer demand for NI products, our ability to continue to control our operating expenses, manufacturing inefficiencies and foreign exchange fluctuations. Actual results may differ materially from the expected results. The company directs readers to documents it files with the SEC for other risks associated with the company's future performance.
About National Instruments
National Instruments (www.ni.com) is transforming the way engineers and scientists design, prototype and deploy systems for measurement, automation and embedded applications. NI empowers customers with off-the-shelf software such as NI LabVIEW and modular cost-effective hardware, and sells to a broad base of more than 30,000 different companies worldwide, with no one customer representing more than 3 percent of revenue and no one industry representing more than 15 percent of revenue. Headquartered in Austin, Texas, NI has more than 5,000 employees and direct operations in more than 40 countries. For the past 10 years, FORTUNE magazine has named NI one of the 100 best companies to work for in America. Readers can obtain investment information from the company's investor relations department by calling (512) 683-5090, e-mailing nati@ni.com or visiting www.ni.com/nati. (NATI-F)
LabVIEW, National Instruments, NI, ni.com, and NIWeek are trademarks of National Instruments. Other product and company names listed are trademarks or trade names of their respective companies.
Contact: Veronica Garza
Investor Relations
(512) 683-6873
National Instruments
Condensed Consolidated Balance Sheets
(in thousands)
September 30, December 31,
2009 2008
(unaudited)
----------- ----
Assets
Current assets:
Cash and cash equivalents $232,700 $229,400
Short-term investments 43,663 6,220
Accounts receivable, net 90,790 121,548
Inventories, net 88,726 107,358
Prepaid expenses and other current assets 40,721 43,062
Deferred income taxes, net 21,875 21,435
------ ------
Total current assets 518,475 529,023
Long-term investments 1,900 10,500
Property and equipment, net 150,532 154,477
Goodwill, net 64,960 64,561
Intangible assets, net 44,980 41,915
Other long-term assets 35,684 32,115
------ ------
Total assets $816,531 $832,591
======== ========
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $25,432 $30,876
Accrued compensation 16,230 22,012
Deferred revenue 49,102 45,514
Accrued expenses and other liabilities 10,641 18,848
Other taxes payable 13,827 13,481
------ ------
Total current liabilities 115,232 130,731
Deferred income taxes 23,599 25,157
Other long-term liabilities 12,274 12,265
------ ------
Total liabilities $151,105 $168,153
======== ========
Stockholders' equity:
Preferred stock - -
Common stock 777 772
Additional paid-in capital 328,196 300,352
Retained earnings 324,785 352,831
Accumulated other comprehensive income 11,668 10,483
------ ------
Total stockholders' equity 665,426 664,438
------- -------
Total liabilities and stockholders' equity $816,531 $832,591
======== ========
Condensed Consolidated Statements of Income
(in thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
(unaudited) (unaudited)
Net sales:
Product $152,106 $200,871 $435,348 $578,222
Software maintenance 12,929 14,167 39,649 40,208
------ ------ ------ ------
Total net sales 165,035 215,038 474,997 618,430
Cost of sales:
Product 40,476 52,957 119,234 152,487
Software maintenance 1,423 1,550 4,034 4,529
----- ----- ----- -----
Total cost of sales 41,899 54,507 123,268 157,016
------ ------ ------- -------
Gross profit 123,136 160,531 351,729 461,414
------- ------- ------- -------
Operating expenses:
Sales and marketing 65,126 78,392 199,089 230,638
Research and development 35,016 37,016 99,252 105,808
General and
administrative 14,312 17,177 44,844 51,122
Patent litigation (2,006) - (2,006) -
------ --- ------ ---
Total operating expenses 112,448 132,585 341,179 387,568
------- ------- ------- -------
Operating income 10,688 27,946 10,550 73,846
Other income (expense):
Interest income 339 1,374 1,335 5,025
Net foreign exchange
gain (loss) 940 (3,025) 1,301 (1,791)
Other income (expense),
net 482 80 979 13
--- --- --- ---
Income before income
taxes 12,449 26,375 14,165 77,093
Provision for (benefit
from) income taxes 2,518 3,216 (554) 11,584
Net income $9,931 $23,159 $14,719 $65,509
------ ------- ------- -------
Basic earnings per share $0.13 $0.29 $0.19 $0.83
----- ----- ----- -----
Diluted earnings per
share $0.13 $0.29 $0.19 $0.82
----- ----- ----- -----
Weighted average shares
outstanding -
Basic 77,653 78,834 77,497 78,701
Diluted 78,103 79,841 77,842 79,773
Dividends declared per
share $0.12 $0.11 $0.36 $0.33
National Instruments
Condensed Consolidated Statements of Cash Flows
(in thousands)
Nine Months Ended
September 30,
2009 2008
(unaudited) (unaudited)
---------- ----------
Cash flow from operating activities:
Net income $14,719 $65,509
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation and amortization 28,536 27,901
Stock-based compensation 15,238 14,690
Provision for (benefit from) deferred
income taxes (6,802) 3,008
Tax expense (benefit from) stock
option plans 1,445 (1,243)
Changes in operating assets and
liabilities:
Accounts receivable 30,758 10,611
Inventories 18,632 (16,954)
Prepaid expenses and other assets 3,920 (12,895)
Accounts payable (5,444) (4,791)
Deferred revenue 3,588 5,985
Taxes and other liabilities (14,245) 14,138
------- ------
Net cash provided by operating
activities 90,345 105,959
------ -------
Cash flow from investing activities:
Capital expenditures (12,331) (21,115)
Capitalization of internally developed
software (10,611) (8,687)
Additions to other intangibles (4,009) (2,603)
Acquisition, net of cash received - (17,310)
Purchases of short-term and long-term
investments (38,876) (17,315)
Sales and maturities of short-term and
long-term investments 10,034 39,080
Purchases of foreign currency option
contracts - (2,784)
--- ------
Net cash (used by) provided by
investing activities (55,793) (30,734)
------- -------
Cash flow from financing activities:
Proceeds from issuance of common stock 16,351 26,628
Repurchase of common stock (18,200) (58,215)
Dividends paid (27,958) (26,055)
Tax expense (benefit from) stock
option plans (1,445) 1,243
------ -----
Net cash (used by) financing
activities (31,252) (56,399)
------- -------
Net change in cash and cash
equivalents 3,300 18,826
Cash and cash equivalents at beginning
of period 229,400 194,839
------- -------
Cash and cash equivalents at end of
period $232,700 $213,665
======== ========
Detail of GAAP charges related to stock-based compensation and
amortization of acquisition intangibles (unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
(unaudited) (unaudited)
Stock-based
compensation
Cost of sales $335 $295 $975 $810
Sales and
marketing 2,210 2,114 6,626 6,204
Research and
development 1,929 1,867 5,349 5,160
General and
administrative 728 800 2,288 2,351
--- --- ----- -----
Provision for
income taxes (409) (1,364) (5,288) (3,588)
---- ------ ------ ------
Total $4,793 $3,712 $9,950 $10,937
------ ------ ------ -------
Amortization of
acquisition
intangibles
Cost of sales $853 $937 $2,593 $2,725
Sales and
marketing 125 139 377 435
Research and
development - - - 14
General and
administrative - - - -
--- --- --- ---
Provision for
income taxes (277) (285) (834) (846)
---- ----- ----- -----
Total $701 $791 $2,136 $2,328
---- ---- ------ ------
National Instruments
Reconciliation of GAAP to Non-GAAP Measures
(in thousands, except per share data)
(unaudited)
Reconciliation of Gross Profit to Non-GAAP Gross Profit
Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
Gross profit,
as reported $123,136 $160,531 $351,729 $461,414
Stock-based
compensation 335 295 975 810
Amortization of
acquisition
intangibles 853 937 2,593 2,725
--- --- ----- -----
Non-GAAP gross
profit $124,324 $161,763 $355,297 $464,949
======== ======== ======== ========
Reconciliation of Operating Expense to Non-GAAP Operating Expenses
Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
Operating
expense, as
reported $112,448 $132,585 $341,179 $387,568
Stock-based
compensation (4,867) (4,781) (14,263) (13,715)
Amortization of
acquisition
intangibles (125) (139) (377) (449)
---- ---- ---- ----
Non-GAAP operating
expenses $107,456 $127,665 $326,539 $373,404
======== ======== ======== ========
Reconciliation of Operating Income to Non-GAAP Operating Income
Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
Operating
income, as
reported $10,688 $27,946 $10,550 $73,846
Stock-based
compensation 5,202 5,076 15,238 14,525
Amortization of
acquisition
intangibles 978 1,076 2,970 3,174
--- ----- ----- -----
Non-GAAP operating
income $16,868 $34,098 $28,758 $91,545
======= ======= ======= =======
Reconciliation of Income before income taxes to Non-GAAP Income before
income taxes
Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
Income before
income taxes,
as reported $12,449 $26,375 $14,165 $77,093
Stock-based
compensation 5,202 5,076 15,238 14,525
Amortization of
acquisition
intangibles 978 1,076 2,970 3,174
--- ----- ----- -----
Non-GAAP income
before income
taxes $18,629 $32,527 $32,373 $94,792
======= ======= ======= =======
Reconciliation of Provision for Income Taxes to Non-GAAP Provision for
Income Taxes
Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
Provision for
income taxes,
as reported $2,518 $3,216 $(554) $11,584
Stock-based
compensation 409 1,364 5,288 3,588
Amortization of
acquisition
intangibles 277 285 834 846
--- --- --- ---
Non-GAAP
provision for
income taxes $3,204 $4,865 $5,568 $16,018
====== ====== ====== =======
Reconciliation of Net Income and Diluted EPS to Non-GAAP Net
Income and Non-GAAP Diluted EPS
Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
Net income, as
reported $9,931 $23,159 $14,719 $65,509
Adjustments to
reconcile net income
to non-GAAP net income:
Stock-based
compensation, net
of tax effect 4,793 3,712 9,950 10,937
Amortization of
acquisition
intangibles, net
of tax effect 701 791 2,136 2,328
--- --- ----- -----
Non-GAAP net income $15,425 $27,662 $26,805 $78,774
======= ======= ======= =======
Basic EPS, as
reported $0.13 $0.29 $0.19 $0.83
Adjustment to
reconcile basic
EPS to non-GAAP basic EPS:
Impact of stock-based
compensation, net
of tax effect $0.06 $0.05 $0.13 $0.14
Impact of
amortization of
acquisition
intangibles, net of
tax effect $0.01 $0.01 $0.03 $0.03
----- ----- ----- -----
Non-GAAP basic EPS $0.20 $0.35 $0.35 $1.00
===== ===== ===== =====
Diluted EPS, as
reported $0.13 $0.29 $0.19 $0.82
Adjustment to
reconcile diluted
EPS to non-GAAP
diluted EPS:
Impact of
stock-based
compensation, net
of tax effect $0.06 $0.05 $0.13 $0.14
Impact of
amortization of
acquisition
intangibles, net of
tax effect $0.01 $0.01 $0.03 $0.03
----- ----- ----- -----
Non-GAAP diluted EPS $0.20 $0.35 $0.35 $0.99
===== ===== ===== =====
Weighted average
shares outstanding -
Basic 77,653 78,834 77,497 78,701
------ ------ ------ ------
Diluted 78,103 79,841 77,842 79,773
------ ------ ------ ------
Reconciliation of Estimated GAAP Fully Diluted EPS to Non-GAAP
Fully Diluted EPS
Three months ended
December 31, 2009
Low High
GAAP Fully Diluted EPS, estimated $0.22 $0.30
Adjustment to reconcile
diluted EPS to non-GAAP
diluted EPS:
Impact of stock-based
compensation, net of tax effect 0.07 0.07
Impact of amortization of
acquisition intangibles, net
of tax effect 0.01 0.01
---- ----
Non-GAAP diluted EPS, estimated $0.30 $0.38
===== =====
National Instruments
Reconciliation of GAAP to Non-GAAP Measures
(in thousands, except per share data)
(unaudited)
Reconciliation of estimated effective tax rates
Three Months Ended
December 31,
2009
----
GAAP forecasted effective tax rate 36%
Stock-based compensation and
amortization of acquisition intangibles -6%
---
Non-GAAP forecasted effective tax rate 30%
===
Estimated Year
2010
Low High
GAAP forecasted effective tax rate 16% 20%
Stock-based compensation and
amortization of acquisition intangibles 2% 2%
--- ---
Non-GAAP forecasted effective tax rate 18% 22%
=== ===
SOURCE National Instruments
http://www.ni.com
Tags: acquisition arizona asia business capitalization ceo community conference currency dividend dividends earnings economy environment eps equity europe executive foreign exchange gaap hardware index industrial investment local london magazine manufacturing market share marketing nasdaq new product patent president products profit property rates recession research and development revenue sales software stock option tax taxes texas trade us dollar wireless
Companies: National Instruments Corp. (NATI)
AUSTIN, Texas, Oct 27, 2009 /PRNewswire-FirstCall via COMTEX/ --
National Instruments (Nasdaq: NATI) today introduced NI VideoMASTER 3.0, a new PXI Express-based digital video analyzer for validation and production test of multimedia devices. VideoMASTER simplifies the testing of multimedia devices by using configurable measurement steps within NI TestStand test management software to automate a full suite of video measurements. By taking advantage of the efficient, configurable performance of VideoMASTER 3.0, multimedia test engineers can significantly reduce development costs and decrease overall test time.
"Today's multimedia test engineers face increasingly sophisticated challenges to maintaining quality while increasing throughput and saving money," said Eric Starkloff, vice president of test marketing at National Instruments. "The release of VideoMASTER 3.0 illustrates our company's continuing investment in helping engineers decrease development time, streamline processes and reduce costs for multimedia test."
The new PXI Express digital video analyzer makes it possible for engineers to test multimedia devices with High-Definition Multimedia Interfaces (HDMIs). The new solution supports the analysis of HDMI signals with Full HD resolution up to 1080p/60 Hz, High-bandwidth Digital Content Protection (HDCP) and deep color with up to 12-bit color depth. The VideoMASTER digital video analyzer solution also includes more than 160 automated video measurements to eliminate the need for manual testing of HDMI devices such as set-top boxes, Blu-ray players and video recorders. Using VideoMASTER 3.0, engineers can perform more than 100 video measurements in less than four seconds. This high-performance functionality helps engineers achieve higher test throughput without sacrificing test quality.
VideoMASTER 3.0 also features improved support for analog video interfaces including composite, S-video and component video. With support for the latest versions of NI LabVIEW graphical system development software and NI TestStand as well as improved run-time performance, VideoMASTER 3.0 delivers a fast and powerful test solution for automated video test. VideoMASTER solutions are available in a variety of hardware-software bundles to meet diverse test requirements.
To view pricing and specifications and learn more about configuring a multimedia test system with VideoMASTER 3.0, readers can visit www.ni.com/videomaster.
About National Instruments
National Instruments (www.ni.com) is transforming the way engineers and scientists design, prototype and deploy systems for measurement, automation and embedded applications. NI empowers customers with off-the-shelf software such as NI LabVIEW and modular cost-effective hardware, and sells to a broad base of more than 30,000 different companies worldwide, with no one customer representing more than 3 percent of revenue and no one industry representing more than 15 percent of revenue. Headquartered in Austin, Texas, NI has more than 5,000 employees and direct operations in more than 40 countries. For the past 10 years, FORTUNE magazine has named NI one of the 100 best companies to work for in America. Readers can obtain investment information from the company's investor relations department by calling (512) 683-5090, e-mailing nati@ni.com or visiting www.ni.com/nati.
LabVIEW, National Instruments, NI, ni.com and NI TestStand are trademarks of National Instruments. Other product and company names listed are trademarks or trade names of their respective companies.
Editor Contact: Hilary Marchbanks, (512) 683-5937
Reader Contact: Ernest Martinez, (800) 258-7022
SOURCE National Instruments
http://www.ni.com
Tags: bandwidth hardware investment magazine marketing money multimedia nasdaq president revenue software texas trade video
Companies: National Instruments Corp. (NATI)
AUSTIN, Texas, Oct 26, 2009 /PRNewswire-FirstCall via COMTEX/ --
National Instruments (Nasdaq: NATI) today announced a new version of its intuitive drag-and-drop software that powers the LEGO MINDSTORMS NXT 2.0 robotics kits for retail and education. With this system, children as young as 9 years old can design their own robots using new features such as color recognition, Bluetooth support and additional robot models that offer children more options to express their creativity. The software, which will be included with all LEGO MINDSTORMS NXT 2.0 kits, is based on the widely adopted NI LabVIEW graphical programming software, which provides children easy-to-use, drag-and-drop functionality to program their robotic creations. With this software, students simply drag and drop icons that are representative of the various tasks they want their robots to perform, similar to how professional engineers and scientists control today's latest robotics with LabVIEW.
"We are constantly amazed at how graphical programming based on LabVIEW makes the NXT simultaneously powerful and easy to use," said Lars Nyengaard, director of innovation and robotics for the LEGO Group. "We're proud to have built the MINDSTORMS software around LabVIEW technology, which uses picture-based interaction that facilitates a fun and creative design experience for children. This new generation of MINDSTORMS delivers new features to help our young customers increase their interest and knowledge in robotics."
First released in 2006, LEGO MINDSTORMS NXT has been used by children around the world both at home and in the classroom. The hands-on system engages student curiosity and helps teach problem-solving and analytical skills that are vital in the 21st century workplace. NXT 2.0 software creates the possibility for new types of robotic customization so that no two robots are alike. Software features include support for a new color recognition sensor, which helps robots perform color-matching tasks and sense light levels, and programmatic Bluetooth support. Additionally, new sound and image editors can load images and sounds into the robot's memory for display on the LCD screen or to play back the sound of choice. Children also can share project files with friends using the new Pack-N-Go project packager. The LEGO MINDSTORMS education version, which launched this past January, includes such features as an easy-to-use data logging tool.
"LEGO and NI share a vision of inspiring today's students to be tomorrow's innovators," said Ray Almgren, vice president of academic relations at National Instruments. "We believe that LEGO MINDSTORMS NXT, powered by LabVIEW graphical programming, helps children explore technology and provides an important hands-on learning platform that develops creativity and ingenuity in today's students."
The LEGO Group and National Instruments have a long-standing relationship that began in 1998 with the development of the programming software for the original LEGO MINDSTORMS for Schools product and continued with the introduction of LEGO MINDSTORMS NXT in 2006 and the LEGO Education WeDo(TM) platform in 2009. NI and LEGO are committed to inspiring creativity and innovation in children and have worked together to ensure that this "NXT" generation of MINDSTORMS is smarter, stronger and more intuitive than ever. Today, the intuitive LabVIEW software platform powers a robotics continuum of products for all ages, delivering age-appropriate software from grade school to graduate school and into industry.
The LEGO MINDSTORMS NXT 2.0 robotics kit for retail is available through retailers that carry LEGO products. The education version of the kit, which is specifically designed for use in classrooms, is available through LEGO Education distributors.
To learn more about the NI collaboration with LEGO on MINDSTORMS NXT software, readers can visit www.ni.com/academic/mindstorms.
National Instruments in Academia
National Instruments is committed to enhancing engineering and science education worldwide by providing educators and students with powerful graphical system design software and modular hardware to connect the curriculum with the real world. Professors and students benefit from powerful, professional tools such as NI LabVIEW graphical development software, which helps students visualize and implement engineering concepts. The integration of LabVIEW in the classroom creates an effective, dynamic learning environment - from LEGO MINDSTORMS NXT in primary schools to research laboratories in universities. For more information about NI academic products, curriculum resources and discounts, visit www.ni.com/academic.
About National Instruments
National Instruments (www.ni.com) is transforming the way engineers and scientists design, prototype and deploy systems for measurement, automation and embedded applications. NI empowers customers with off-the-shelf software such as NI LabVIEW and modular cost-effective hardware, and sells to a broad base of more than 30,000 different companies worldwide, with no one customer representing more than 3 percent of revenue and no one industry representing more than 15 percent of revenue. Headquartered in Austin, Texas, NI has more than 5,000 employees and direct operations in more than 40 countries. For the past 10 years, FORTUNE magazine has named NI one of the 100 best companies to work for in America. Readers can obtain investment information from the company's investor relations department by calling (512) 683-5090, e-mailing nati@ni.com or visiting www.ni.com/nati.
LabVIEW, National Instruments, NI and ni.com are trademarks of National Instruments. LEGO, MINDSTORMS and WEDO are trademarks of the LEGO Group. Other product and company names listed are trademarks or trade names of their respective companies.
Editor Contact: Hilary Marchbanks, (512) 683-5937
SOURCE National Instruments
http://www.ni.com
Tags: academic children editors education educators engineering environment grade school hardware investment magazine nasdaq president products programming research retail revenue robotics science software technology texas trade
Companies: National Instruments Corp. (NATI)
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National Instruments said it is expanding its collaboration with Lego Education through a new classroom robotics platform announced during a company event.
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