National Instruments Reports Record Annual and Quarterly Revenue

       National Instruments Reports Record Annual and Quarterly Revenue

Company Drives Product Adoption Through Growth in Orders Over $20,000

PR Newswire

AUSTIN, Texas, Jan. 31, 2013

AUSTIN, Texas, Jan. 31, 2013 /PRNewswire/ --

Q4 2012 Highlights

  oRecord revenue of $300 million, up 8 percent year-over-year on a GAAP
    basis and 7 percent year-over-year on a non-GAAP basis
  oGAAP gross margin of 75.2 percent and non-GAAP gross margin of 76.0
    percent
  oFully diluted GAAP EPS of $0.17
  oFully diluted non-GAAP EPS of $0.29
  oEBITDA of $45 million, or $0.37 per share
  o$335 million in cash and short-term investments as of Dec. 31, 2012

National Instruments (Nasdaq: NATI) today announced record Q4 revenue of $300
million, an increase of 8 percent year-over-year on a GAAP basis and up 7
percent year-over-year on a non-GAAP basis. In Q4, orders between $20,000 and
$100,000 were up by 6 percent year-over-year while orders over $100,000 grew
37 percent year-over-year. The company's orders less than $20,000 decreased by
1 percent year-over-year, reflecting the continued weakness in the Global PMI
in Q4.

GAAP net income was $21 million in Q4, with fully diluted earnings per share
(EPS) of $0.17. Included in the GAAP results is a $6.8 million, or $0.06 per
share, adjustment to the acquisition earn-out accrual related to NI's
acquisition of AWR in June 2011. This increase in the accrual is a result of
AWR's performance exceeding the company's prior expectations.

Non-GAAP net income for Q4 was $35 million, with non-GAAP fully diluted EPS of
$0.29. The company's non-GAAP results exclude the impact of stock-based
compensation, amortization of acquisition-related intangibles, acquisition
accounting for deferred revenue, acquisition earn-out accrual, and
acquisition-related transaction costs. Reconciliations of the company's GAAP
and non-GAAP results are included as part of this news release.

A significant contributor to National Instruments' success this year was
winning the largest application sale in the history of the company. This
application involves the use of NI LabVIEW system design software and the NI
PXI hardware platform to rapidly develop a production test solution. In 2012,
National Instruments received $59 million in orders for this application, and
the company believes it will receive significant future orders from this
customer during 2013.

"Since we founded the company in 1976, the role NI technology plays in
building measurement systems has evolved substantially to best fit the
changing needs of our customers," said Dr. James Truchard, NI president, CEO
and co-founder. "I remain optimistic that our differentiated approach through
graphical system design, the industry shift away from rack-and-stack to a
modular approach and our on-going commitment to customer success continue to
set National Instruments apart from others in our industry."

As the company previously announced, on Oct. 1, 2012, National Instruments
created a new geographical territory in Asia, resulting in four regions:
Americas, Europe, East Asia and Emerging Markets. Geographically, revenue in
U.S. dollar terms for Q4 2012 compared to Q4 2011 was up 3 percent in the
Americas, down 8 percent in Europe, up 24 percent in East Asia and up 42
percent in Emerging Markets. In local currency terms, revenue was down 5
percent in Europe, up 25 percent in East Asia and up 33 percent in Emerging
Markets.

As of Dec. 31, NI had $335 million in cash and short-term investments,
decreasing by $29 million from Q3. During the quarter, National Instruments
paid $25 million for several acquisitions, including Signalion; distributed
$17 million for dividends; and invested $10 million in the completion of its
new manufacturing facility and the purchase of additional property. The
National Instruments Board of Directors approved a quarterly dividend of $0.14
per share on the company's common stock payable on March 11 to shareholders of
record on Feb. 19.

FY 2012 Highlights

  oRecord revenue of $1.14 billion, up 12 percent year-over-year on a GAAP
    basis and up 10 percent year-over-year on a non-GAAP basis
  oGAAP gross margin of 75.5 percent
  oNon-GAAP gross margin of 76.4 percent
  oGAAP operating margin of 10 percent
  oNon-GAAP operating margin of 14.4 percent
  oFully diluted GAAP EPS of $0.73
  oFully diluted non-GAAP EPS of $1.03
  oRecord annual revenue for PXI, CompactRIO and CompactDAQ products
  oNI named to the Great Place to Work® Institute's 25 Best Multinational
    Companies to Work For list for the second consecutive year and its 100
    Best Companies to Work For list for the 14th consecutive year

Full-year 2012 revenue was $1.14 billion, up 12 percent year-over-year on a
GAAP basis and up 10 percent year-over-year on a non-GAAP basis. GAAP net
income for 2012 was $90 million, with fully diluted GAAP EPS of $0.73, and
non-GAAP net income was $127 million, with non-GAAP fully diluted EPS of
$1.03.

"We believe our ability to grow revenue and maintain our operating profit in
2012, despite significant economic headwinds, demonstrated the strength of our
disruptive approach," said Alex Davern, EVP, COO and CFO. "Our goals for 2013
are to continue to leverage the investments we have already made to drive
sustained revenue growth and to continue to drive toward our long-term target
of 18 percent non-GAAP operating income."

Guidance for Q1 2013

The company continues to be cautious in planning for 2013 and anticipates the
Global PMI to remain weak through Q2. NI currently expects Q1 revenue to be
between $276 million and $296 million. The company expects fully diluted GAAP
EPS between $0.12 and $0.22, with non-GAAP fully diluted EPS expected to be
between $0.19 and $0.29. Included in the guidance for Q1 is a $0.03 per share
benefit from the recognition of the 2012 benefit of the R&D tax credit in Q1
2013.

Non-GAAP Presentation

In addition to disclosing results determined in accordance with GAAP, NI
discloses certain non-GAAP operating results and non-GAAP information that
exclude certain charges. In this news release, the company has presented its
revenue, gross profit, gross margin, operating expenses, operating income,
operating margin, income before income taxes, provision for income taxes, net
income and basic and fully diluted EPS for the three- and 12-month periods
ending Dec. 31, 2012 and 2011, on a GAAP and non-GAAP basis. NI is also
providing guidance on its non-GAAP fully diluted EPS. When presenting non-GAAP
information, the company includes a reconciliation of the non-GAAP results to
the GAAP results. 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,
amortization of acquisition-related intangibles, acquisition accounting for
deferred revenue, adjustments related to the company's contract dispute with
the GSA, acquisition-related adjustments and acquisition-related transaction
costs 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 the 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.

This news release also discloses the company's earnings before interest,
taxes, depreciation and amortization (EBITDA) and EBITDA diluted EPS for the
three- and 12-month periods ended Dec. 31, 2012 and 2011. The company believes
that including the EBITDA results assists investors in assessing the company's
operational performance relative to its competitors. A reconciliation of
EBITDA and EBITDA diluted EPS to GAAP net income and GAAP diluted EPS is
included with this news release.

Conference Call Information
Interested parties can listen to the Q4 2012 conference call today, Jan. 31,
beginning at 4:00 p.m. CST, at ni.com/call. Additionally, a replay will be
available shortly after the call ends through Feb. 5 at 7:00 p.m. CST by
calling (855) 859-2056, confirmation code #85756419, or by visiting the
company's website at ni.com/call.

Forward-Looking Statements
This release contains "forward-looking statements," including statements
related to the company's belief it will receive significant future orders from
a large customer during 2013, remaining optimistic that its differentiated
approach sets NI apart from others in the industry; the strength of the
company's disruptive approach; the company's goals for 2013; NI's drive toward
its long-term target of 18 percent non-GAAP operating income; anticipated
weakness in the Global PMI through Q2; and NI's Q1 guidance for revenue, GAAP
and non-GAAP EPS, and expected benefit from the 2012 R&D tax credit.These
statements are subject to a number of risks and uncertainties, including the
risk of adverse changes or fluctuations in the global economy, component
shortages, delays in the release of new products, fluctuations in customer
demand for NI products, the company's ability to effectively manage its
operating expenses, manufacturing inefficiencies, adjustments to acquisition
earn-out accruals, foreign exchange fluctuations and the impact of NI's recent
and any future acquisitions. Actual results may differ materially from the
expected results.

The company directs readers to its Form 10-K for the fiscal year ended Dec.
31, 2011, its Form 10-Q for the quarter ended Sept. 30, 2012, and the other
documents it files with the SEC for other risks associated with the company's
future performance.

About National Instruments
Since 1976, National Instruments (www.ni.com) has equipped engineers and
scientists with tools that accelerate productivity, innovation and discovery.
NI's graphical system design approach to engineering provides an integrated
software and hardware platform that speeds the development of any system
needing measurement and control. The company's long-term vision and focus on
improving society through its technology supports the success of its
customers, employees, suppliers and shareholders. Readers can obtain
investment information from the company's investor relations department by
calling (512) 683-5090, emailing nati@ni.com or visitingwww.ni.com/nati.
(NATI-F)

CompactRIO, LabVIEW, National Instruments, NI and ni.com are trademarks of
National Instruments. Other product and company names listed are trademarks or
trade names of their respective companies.



Contact: Caitlin Gursslin
         Investor Relations
         (512) 683-8456





National Instruments
Consolidated Balance Sheets
(in thousands)
                                                Dec. 31, 2012   Dec. 31,
                                                (unaudited)     2011
Assets
Current assets:
Cash and cash equivalents                     $ 161,996       $ 142,608
Short-term investments                          173,166         223,504
Accounts receivable, net                        187,060         157,056
Inventories, net                                169,990         131,995
Prepaid expenses and other current assets       48,009          38,082
Deferred income taxes, net                      27,479          26,304
Total current assets                            767,700         719,549
Property and equipment, net                     249,721         190,148
Goodwill                                        147,258         130,747
Intangible assets, net                          93,913          83,866
Other long-term assets                          26,177          29,984
Total assets                                  $ 1,284,769     $ 1,154,294
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable                              $ 65,080        $ 41,111
Accrued compensation                            29,978          29,616
Deferred revenue – current                      90,714          80,059
Accrued expenses and other liabilities          34,373          37,612
Other taxes payable                             24,811          24,507
Total current liabilities                       244,956         212,905
Deferred income taxes                           47,630          43,186
Liability for uncertain tax positions           20,920          19,494
Deferred revenue – long-term                    20,446          10,015
Other long-term liabilities                     11,689          16,683
Total liabilities                             $ 345,641       $ 302,283
Stockholders' equity:
Preferred stock                               $ -             $ -
Common stock                                    1,229           1,207
Additional paid-in capital                      532,845         471,830
Retained earnings                               404,210         382,474
Accumulated other comprehensive income (loss)   844             (3,500)
Total stockholders' equity                    $ 939,128       $ 852,011
Total liabilities and stockholders' equity    $ 1,284,769     $ 1,154,294


National Instruments
Consolidated Statements of Income
(in thousands, except per share data)
                                    Three Months Ended   12 Months Ended
                                    Dec. 31,             Dec. 31,
                                    (Unaudited)          (Unaudited)
                                    2012       2011      2012        2011
Net sales:
Product                           $ 278,641  $ 256,606 $ 1,054,849 $ 955,613
Software maintenance                21,685     21,445    87,494      81,667
GSA accrual                         -          -         1,349       (13,107)
Total net sales                     300,326    278,051   1,143,692   1,024,173
Cost of sales:
Product                           $ 73,465   $ 66,499  $ 274,839   $ 235,839
Software maintenance                1,116      888       5,435       5,125
Total cost of sales                 74,581     67,387    280,274     240,964
Gross profit                      $ 225,745  $ 210,664 $ 863,418   $ 783,209
Operating expenses:
Sales and marketing               $ 111,447  $ 102,221 $ 431,468   $ 388,768
Research and development            58,066     54,502    222,994     199,071
General and administrative          21,649     21,439    85,239      82,658
Acquisition-related adjustment      6,783      -         6,783       -
Total operating expenses          $ 197,945  $ 178,162 $ 746,484   $ 670,497
Operating income                  $ 27,800   $ 32,502  $ 116,934   $ 112,712
Other income (expense):
Interest income                   $ 221      $ 280     $ 716       $ 1,319
Net foreign exchange (loss)         (107)      (1,338)   (2,246)     (2,755)
Other income, net                   77         78        (567)       (142)
Income before income taxes        $ 27,991   $ 31,522  $ 114,837   $ 111,134
Provision for (benefit from)        7,278      7,195     24,700      17,062
income taxes
Net income                        $ 20,713   $ 24,327  $ 90,137    $ 94,072
Basic earnings per share          $ 0.17     $ 0.20    $ 0.74      $ 0.79
Diluted earnings per share        $ 0.17     $ 0.20    $ 0.73      $ 0.78
Weighted average shares
outstanding –
Basic                               122,754    120,582   121,973     119,836
Diluted                             123,375    121,453   122,977     121,220
Dividends declared per share      $ 0.14     $ 0.10    $ 0.56      $ 0.40


National Instruments
Consolidated Statements of Cash Flows
(in thousands)
                                                         12 Months Ended
                                                         Dec. 31,
                                                         (Unaudited)
                                                         2012        2011
Cash flow from operating activities:
Net income                                             $ 90,137    $ 94,072
Adjustments to reconcile net income to net cash
provided
by operating activities:
Depreciation and amortization                            58,686      49,897
Stock-based compensation                                 27,796      23,219
Tax expense (benefit) from deferred income taxes         1,853       (8,581)
Tax (benefit) from stock option plans                    (2,198)     (5,151)
Changes in operating assets and liabilities:
Accounts receivable                                      (26,007)    (21,957)
Inventories                                              (36,154)    (11,817)
Prepaid expenses and other assets                        (7,037)     (1,350)
Accounts payable                                         23,419      5,573
Deferred revenue                                         604         16,953
Taxes and other liabilities                              1,417       29,041
Net cash provided by operating activities              $ 132, 516  $ 169,899
Cash flow from investing activities:
Capital expenditures                                     (89,073)    (54,830)
Capitalization of internally developed software          (11,721)    (12,065)
Additions to other intangibles                           (1,890)     (5,035)
Acquisitions, net of cash received                       (25,481)    (73,558)
Purchases of short-term investments                      (188,098)   (257,449)
Sales and maturities of short-term investments           238,436     166,104
Net cash provided/(used) by investing activities       $ (77,827)  $ (236,833)
Cash flow from financing activities:
Proceeds from issuance of common stock                   30,902      32,905
Dividends paid                                           (68,401)    (47,961)
Tax benefit from stock option plans                      2,198       5,151
Net cash used by financing activities                  $ (35,301)  $ (9,905)
Net change in cash and cash equivalents                  19,388      (76,839)
Cash and cash equivalents at beginning of period         142,608     219,447
Cash and cash equivalents at end of period             $ 161,996   $ 142,608


Detail of GAAP Charges Related to Revenue, Stock-Based Compensation,
Amortization of Acquisition Intangibles and Acquisition-Related Transaction
Costs
(in thousands)
(unaudited)
                                        Three Months Ended 12 Months Ended
                                        Dec. 31,           Dec. 31,
                                        2012       2011      2012      2011
Revenue
Acquisition-related deferred revenue  $ -        $ 1,912   $ 2,156   $ 4,730
GSA accrual                             -          -         (1,349)   13,107
Provision for income taxes              -          (669)     (282)     (6,242)
Total                                 $ -        $ 1,243   $ 525     $ 11,595
Stock-based compensation
Cost of sales                         $ 430      $ 411     $ 1,719   $ 1,527
Sales and marketing                     3,033      2,702     11,612    9,711
Research and development                2,919      2,625     10,909    8,870
General and administrative              908        831       3,556     3,111
Provision for income taxes              (2,193)    (2,041)   (7,579)   (6,827)
Total                                 $ 5,097    $ 4,528   $ 20,217  $ 16,392
Amortization of acquisition
intangibles
Cost of sales                         $ 2,165    $ 2,469   $ 8,926   $ 7,064
Sales and marketing                     476        447       1,819     1,071
Research and development                217        -         217       -
Other income, net                       194        190       765       955
Provision for income taxes              (964)      (993)     (3,717)   (2,736)
Total                                 $ 2,088    $ 2,113   $ 8,010   $ 6,354
Acquisition-related transaction costs
Cost of sales                         $ (56)     $ 32      $ (24)    $ 54
Sales and marketing                     177        220       606       1,349
Research and development                165        106       360       176
General and administrative              355        47        393       505
Acquisition-related adjustment          6,783      -         6,783     -
Provision for income taxes              (105)      (142)     (348)     (288)
Total                                 $ 7,319    $ 263     $ 7,770   $ 1,796


National Instruments
Reconciliation of GAAP to Non-GAAP Measures
(in thousands, except per share data)
(unaudited)
                                   Three Months Ended    12 Months Ended
                                   Dec. 31,              Dec. 31,
                                   2012        2011      2012        2011
Reconciliation of Net Sales to Non-GAAP Net Sales
Net sales, as reported          $  300,326 $   278,051 $ 1,143,692 $ 1,024,173
Acquisition-related deferred       -           1,912     2,156       4,730
revenue
GSA accrual                        -           -         (1,349)     13,107
Non-GAAP net sales              $  300,326 $   279,963 $ 1,144,499 $ 1,042,010
Reconciliation of Gross Profit to Non-GAAP Gross
Profit
Gross profit, as reported       $  225,745 $   210,664 $ 863,418   $ 783,209
Acquisition-related deferred       -           1,912     807         17,837
revenue and GSA accrual
Stock-based compensation           430         411       1,719       1,527
Amortization of acquisition        2,165       2,469     8,926       7,064
intangibles
Acquisition-related transaction    (56)        32        (24)        54
costs
Non-GAAP gross profit           $  228,284 $   215,488 $ 874,846   $ 809,691
 Non-GAAP gross margin           76%         77%       76%         78%
Reconciliation of Operating Expenses to Non-GAAP
Operating Expenses
Operating expenses, as reported $  197,945 $   178,162 $ 746,484   $ 670,497
Stock-based compensation           (6,860)     (6,158)   (26,077)    (21,692)
Amortization of acquisition        (693)       (447)     (2,036)     (1,071)
intangibles
Acquisition-related adjustment     (6,783)     -         (6,783)     -
Acquisition-related transaction    (697)       (373)     (1,359)     (2,030)
costs
Non-GAAP operating expenses     $  182,912 $   171,184 $ 710,229   $ 645,704
Reconciliation of Operating Income to Non-GAAP
Operating Income
Operating income, as reported    $ 27,800  $   32,502  $ 116,934   $ 112,712
Acquisition-related deferred       -           1,912     807         17,837
revenue and GSA accrual
Stock-based compensation           7,290       6,569     27,796      23,219
Amortization of acquisition        2,858       2,916     10,962      8,135
intangibles
Acquisition-related adjustment     6,783       -         6,783       -
Acquisition-related transaction    641         405       1,335       2,084
costs
Non-GAAP operating income        $ 45,372  $   44,304  $ 164,617   $ 163,987
 Non-GAAP operating margin       15%         16%       14%         16%
Reconciliation of Income Before Income Taxes to Non-GAAP Income
Before Income Taxes
Income before income taxes, as   $ 27,991  $ 31,522    $  114,837  $ 111,134
reported
Acquisition-related deferred       -         1,912         807       17,837
revenue and GSA accrual
Stock-based compensation           7,290     6,569         27,796    23,219
Amortization of acquisition        3,052     3,106         11,727    9,090
intangibles
Acquisition-related adjustment     6,783     -             6,783     -
Acquisition-related transaction    641       405           1,335     2,084
costs
Non-GAAP income before income    $ 45,757  $ 43,514    $   163,285 $ 163,364
taxes
Reconciliation of Provision for Income Taxes to Non-GAAP Provision
for Income Taxes
Provision for (benefit from)     $ 7,278   $   7,195   $   24,700  $ 17,062
income taxes, as reported
Acquisition-related deferred       -           669         282       6,242
revenue and GSA accrual
Stock-based compensation           2,193       2,041       7,579     6,827
Amortization of acquisition        964         993         3,717     2,736
intangibles
Acquisition-related transaction    105         142         348       288
costs
Non-GAAP provision for income    $ 10,540  $   11,040  $   36,626  $ 33,155
taxes

Reconciliation of GAAP Net Income, Basic EPS and Diluted EPS to Non-GAAP Net
Income, Basic EPS and Diluted EPS
(in thousands, except per share data)
(unaudited)
                                        Three Months Ended   12 Months Ended
                                        Dec. 31,             Dec. 31,
                                        2012       2011      2012      2011
Net income, as reported               $ 20,713   $ 24,327  $ 90,137  $ 94,072
Adjustments to reconcile net income
to non-GAAP net income:
Acquisition-related deferred revenue
and GSA accrual,                        -          1,243     525       11,595

net of tax effect
Stock-based compensation, net of tax    5,097      4,528     20,217    16,392
effect
Amortization of acquisition             2,088      2,113     8,010     6,354
intangibles, net of tax effect
Acquisition-related adjustment          6,783      -         6,783     -
Acquisition-related transaction         536        263       987       1,796
costs, net of tax effect
Non-GAAP net income                   $ 35,217   $ 32,474  $ 126,659 $ 130,209
Basic EPS, as reported                $ 0.17     $ 0.20    $ 0.74    $ 0.79
Adjustment to reconcile basic EPS to
non-GAAP basic EPS:
Impact of acquisition-related
deferred revenue and GSA accrual,       -          0.01      0.00      0.10

net of tax effect
Impact of stock-based compensation,     0.04       0.04      0.16      0.14
net of tax effect
Impact of amortization of acquisition   0.02       0.02      0.07      0.05
intangibles, net of tax effect
Impact of acquisition-related           0.06       -         0.06      -
adjustment
Impact of acquisition-related           -          -         0.01      0.01
transaction costs, net of tax effect
Non-GAAP basic EPS                    $ 0.29     $ 0.27    $ 1.04    $ 1.09
Diluted EPS, as reported              $ 0.17     $ 0.20    $ 0.73    $ 0.78
Adjustment to reconcile diluted EPS
to non-GAAP diluted EPS:
Impact of acquisition-related           -          0.01      0.00      0.10
deferred revenue, net of tax effect
Impact of stock-based compensation,     0.04       0.04      0.16      0.13
net of tax effect
Impact of amortization of acquisition   0.02       0.02      0.07      0.05
intangibles, net of tax effect
Impact of acquisition-related           0.06       -         0.06      -
adjustment
Impact of acquisition-related           -          -         0.01      0.01
transaction costs, net of tax effect
Non-GAAP diluted EPS                  $ 0.29     $ 0.27    $ 1.03    $ 1.07
Weighted average shares outstanding -
Basic                                   122,754    120,582   121,973   119,836
Diluted                                 123,375    121,453   122,977   121,220

Reconciliation of Net Income and Diluted EPS to EBITDA and EBITDA Diluted EPS
(in thousands, except per share data)
(unaudited)
                                        Three Months Ended   12 Months Ended
                                        Dec. 31,             Dec. 31,
                                        2012       2011      2012      2011
Net income, as reported               $ 20,713   $ 24,327  $ 90,137  $ 94,072
Adjustments to reconcile net income
to EBITDA:
 Interest income                      (221)      (280)     (716)     (1,319)
 Taxes                                7,278      7,195     24,700    17,062
 Depreciation and amortization        17,657     14,152    58,686    49,897
EBITDA                                $ 45,427   $ 45,394  $ 172,807 $ 159,712
Diluted EPS, as reported              $ 0.17     $ 0.20    $ 0.73    $ 0.78
Adjustment to reconcile diluted EPS
to EBITDA:
 Interest income                      -          (0.01)    (0.00)    (0.01)
 Taxes                                0.06       0.06      0.20      0.14
 Depreciation and amortization        0.14       0.12      0.48      0.41
EBITDA diluted EPS                    $ 0.37     $ 0.37    $ 1.41    $ 1.32
Weighted average shares outstanding -   123,375    121,453   122,977   121,220
diluted

National Instruments
Reconciliation of GAAP to Non-GAAP EPS Guidance
(unaudited)
                                                            Three months ended
                                                            March 31, 2013
                                                            Low         High
GAAP fully diluted EPS, guidance                          $ 0.12    $   0.22
Adjustment to reconcile diluted EPS to non-GAAP diluted
EPS:
Impact of stock-based compensation, net of tax effect      0.05        0.05
Impact of amortization of acquisition intangibles, net     0.02        0.02
of tax effect
Non-GAAP diluted EPS, guidance                            $ 0.19    $   0.29



SOURCE National Instruments

Website: http://www.ni.com
 
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