Academic Company Events Community Support Solutions Products & Services Contact NI MyNI

Investor Relations

1999 Annual Review

Five-Year Financial Overview
(Dollars in millions, except per-share, per-employee data)

FISCAL YEAR ENDED DEC. 31,19991998199719961995
OPERATING RESULTS
Net revenue$330$274$241$201$165
Gross margin$254$209$186$151$125
Operating income (1)$ 66$54$51$38$26
Net income (1)$47$38$35$26$17
Income per common share (1) (2)
   Basic$0.95$0.77$0.71$0.54$0.37
   Diluted$0.91$0.74$0.68$0.53$0.37
PERCENT OF REVENUE
Gross margin76.9 %76.2 %77.1 %75.2 %76.0 %
Operating income (1)20.0 %19.6 %21.3 %19.1 %16.1 %
Net income (1)14.3 %13.8 %14.3 %13.0 %10.6 %
Income tax rate32.0 %33.0 %33.0 %33.0 %36.0 %
Net revenue, by region
  Americas53 %56 %59 %57 %56 %
   Europe33 %32 %27 %29 %31 %
   Asia/ROW14 %12 %14 %14 %13 %
Investment in R&D13.8 %12.7 %12.6 %12.2 %12.1 %
(1) Operating income, net income and income per common share exclude acquisition charges and cumulative effect of accounting charges.
(2) Share and per-share information has been restated to reflect 3-for-2 splits of the common stock in November 1997 and August 1999.
 
FISCAL YEAR ENDED DEC. 31,19991998199719961995
FINANCIAL POSITION
Total current assets$231$174$149$132$101
Property, plant and equipment, net$70$66$47$32$33
Working capital$174$133$112$99$75
Total assets$319$250$204$169$137
Total current liabilities$57$41$37$32$26
Long-term debt$5$4$5$9
$12
Stockholders' equity$254$204$162$127$99
Total liabilities and stockholders' equity$319$250$204$169$137
KEY RATIOS
Current ratio4.054.244.034.133.88
Quick ratio3.603.853.593.753.31
Return on equity, excluding cash40 %40 %47 %42 %33 %
OTHER DATA
Employees1,9551,5541,3711,1421,028
Investment in R&D$46$35$30$24$20
Gross margin per employee$145 K$143 K$148 K$139 K$131 K
Cash flow from operations$46.7$46.2$31.7$40.3$14.9
Weighted average shares outstanding (2)
  Basic49.849.248.848.546.7
  Diluted52.251.250.549.447.1
Common shares outstanding (year-end)(2)50.049.449.048.748.3
Closing stock price (NASDAQ: NATI)$38.25$22.75$19.33$14.22$9.00

Back | Next