- National Instruments reports revenue of $360 million for the fourth quarter of its 2018 fiscal year.
- Its revenues for the full year 2018 increased by 5.4% over the previous year to reach $1.36 billion.
- NI expects its first quarter operating revenues to be between $305 million and $335 million.
Alex Davern, CEO of National Instruments said: “We achieved record revenues in 2017 and 2018, totalling $130 million in revenue growth over the past two years. We also achieved our long-term objective one year ahead of schedule with an operating margin of 18% (non-GAAP compliant). Non-GAAP net income increased by 86% over the last two years.”
# Q4 2018 Highlights :
- Revenue of $360 million, up 3 percent year over year
- GAAP net income of $57 million
- Non-GAAP net income of $71 million, up 29 percent year over year
- EBITDA of $78 million
GAAP : Generally Accepted Accounting Principles.
EBITDA : Earnings Before Interest, Taxes, Depreciation and Amortization.
National Instruments announced Q4 2018 revenue of $360 million, up 3 percent year over year. Revenue came in at the low end of guidance due to unexpected weakness in China during the quarter.
In Q4 2018, the value of the company’s total orders was up 2 percent year over year; orders under $20,000 were down 2 percent ; and orders over $20,000 were up 6 percent. Excluding Greater China, in Q4 2018 total orders were up 5 percent year over year.
GAAP net income for Q4 was $57 million and non-GAAP net income was $71 million. EBITDA, or Earnings Before Interest, Taxes, Depreciation and Amortization, was $78 million for Q4.
In Q4, GAAP gross margin was 76 percent and non-GAAP gross margin was 78 percent. Total Q4 GAAP operating expenses were $210 million, up 2 percent year over year. Total Q4 non-GAAP operating expenses were down 1 percent year over year at $199 million. GAAP operating margin was 17 percent in Q4, with GAAP operating income of $62 million, up 8 percent year over year. Non-GAAP operating margin was 23 percent in Q4, with non-GAAP operating income of $82 million, up 16 percent year over year.
Geographic revenue in U.S. dollar terms for Q4 2018 compared with Q4 2017 was up 11 percent in the Americas, down 2 percent in APAC and down 2 percent in EMEIA. Excluding the impact of foreign currency exchange, revenue was up 11 percent in the Americas, down 1 percent in APAC and flat in EMEIA. Historical revenue from these three regions can be found on NI’s investor website at www.ni.com/nati.
# Fiscal Year 2018 Highlights :
- Revenue of $1.36 billion, up 5.4 percent year over year
- GAAP operating margin of 13 percent
- Non-GAAP operating margin of 18 percent
- GAAP net income of $155 million
- Non-GAAP net income of $208 million, up 42 percent year over year
- EBITDA of $241 million
In 2018, GAAP operating expenses were $853 million, up 5 percent year over year, and non-GAAP operating expenses were $816 million, up 1 percent year over year. GAAP net income in 2018 was $155 million and non-GAAP net income in 2018 was $208 million, up 42 percent year over year.
