Academic Company Events NI Developer Zone Support Solutions Products & Services Contact NI MyNI

National Instruments Announces Record Q4 and Fiscal Year 1995 Revenues, Earnings


Net Income Up 34 Percent Over Prior Year

Austin, Texas -- Jan. 31, 1996 -- National Instruments (NASDAQ:NATI) today announced record revenues and earnings for the fourth quarter of fiscal year 1995 and for the year ended Dec. 31, 1995.

Revenues for the fourth quarter were $44.4 million, up 23 percent from $36.2 million in the fourth quarter of 1994, and up 11 percent from the $40.1 million reported in the third quarter of 1995. Net income in the quarter was $5.4 million, up 35 percent from $4.0 million a year ago, and up 42 percent from the $3.8 million reported in the immediately prior quarter. National Instruments reported earnings per share of $0.25 on 21.7 million weighted average shares outstanding, compared with earnings per share of $0.22 on 18.4 million weighted average shares outstanding in the fourth quarter of 1994 and $0.18 on 21.6 million weighted average shares outstanding in the third quarter of 1995.

For the year ended Dec. 31, 1995, revenues were $164.8 million, compared with $127.0 million in 1994, a 30 percent increase. For the year ended Dec. 31, 1995, income from operations was $26.5 million, compared with $19.8 million in 1994, a 34 percent increase.

Results for the year ended Dec. 31, 1995 included net income of $17.4 million or $0.83 per share on 20.9 million weighted average shares outstanding, compared with $13.0 million and $0.71 per share on 18.3 million weighted average shares outstanding for 1994. Net income increased 34 percent from the year ended Dec. 31, 1994.

The balance sheet remained strong, with cash and equivalents and short-term investments totaling $49.8 million, compared with $7.5 million at Dec. 31, 1994; total assets stood at $137.1 million at Dec. 31, 1995 compared with $70.8 million at Dec. 31, 1994.

National Instruments manufactures software and hardware products for PCs and workstations that scientists and engineers use to build virtual instrumentation systems. These systems are used for research and industrial applications such as automated testing, laboratory automation, process monitoring and control, factory automation, physiological monitoring, numerical analysis, and data visualization.

National Instruments is traded on the NASDAQ National Market System under the symbol NATI. More information on National Instruments is available from the company's SEC filings or by contacting the company directly at 6504 Bridge Point Parkway, Austin, Texas 78730-5039, (512) 349-5090. General company and product information can also be accessed through the National Instruments InstrumentationWeb at .

Product and company names listed are trademarks or tradenames of their respective companies.


National Instruments
Condensed Consolidated Balance Sheets
(in thousands)

December 31
1995
December31
1994
ASSETS
Current assets:
Cash and cash equivalents $ 12,016 $ 7,526
Marketable securities 37,765 --
Accounts receivable, net 28,789 23,589
Inventories 15,295 9,838
Other current assets 6,788 4,267
Total current assets 100,653 45,220
Property and equipment, net 32,596 22,225
Intangibles and other assets 3,853 3,306
Total assets $137,102 $70,751
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt $ 2,137 $ 1,280
Accounts payable 9,783 9,141
Accrued expenses 14,187 7,930
Total current liabilities 26,107 18,351
Long-term debt 11,603 9,083
Deferred income taxes 656 2,843
Total liabilities 38,366 30,277
Stockholder's equity:
Common stock 215 183
Additional paid-in capital 41,277 432
Retained earnings 57,104 39,681
Other 140 178
Total stockholders' equity 98,736 40,474
Total liabilities and stockholders' equity $137,102 $70,751
National Instruments
Condensed Consolidated Statements of Income
(in thousands, except per share data)

Three Months
Ended December 31,
(unaudited) 		Years
Ended December 31,
1995 1994 1995 1994
Net sales $44,376 $36,186 $164,819 $127,003
Cost of sales 10,951 8,141 39,525 30,627
Gross profit 33,425 28,045 125,294 96,376
Operating expenses
Sales and marketing 16,071 14,184 63,733 49,957
Research and development 4,891 4,000 19,991 15,163
General and administrative 4,113 3,582 15,071 11,414
Total operating expenses 25,075 21,766 98,795 76,534
Operating income 8,350 6,279 26,499 19,842
Interest income (expense), net 262 (33) 760 (302)
Foreign exchange (loss) gain, net (212) 82 150 1,556
Income before income taxes 8,400 6,328 27,409 21,096
Provision for income taxes 2,952 2,308 9,986 8,129
Net income $5,488 $4,020 $ 17,423 $12,967
Earnings per share $ 0.25 $0.22 $ 0.83 $0.71
Weighted average shares outstanding 21,668 18,406 20,949 18,322

Contact:
Investor Relations
National Instruments
(512) 683-5090

###

Related Links: