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Technology Stocks : National Instruments (NATI) - Insight, please? -- Ignore unavailable to you. Want to Upgrade?

To: Spaw who wrote (134)	10/21/1999 4:39:00 PM
From: Jason M	Read Replies (1) \| Respond to of 217

Another Strong Quarter. I picked up some today on the odd behaviour of the stock. It didn't follow its usual pre-earnings runup but rather it stalled in the 27-28 range. I'm looking for it to break $30 again in the next week barring a tech selloff which is possible. National Instruments Announces Record Revenues and 22 Percent Growth Earnings Up 26 Percent Excluding Acquisition Charges AUSTIN, Texas, Oct. 21 /PRNewswire/ -- National Instruments (Nasdaq: NATI) today announced record revenues of $82.7 million and record earnings of $11.4 million for the third quarter of 1999, excluding acquisition charges. "In addition to our record revenues, we are pleased to deliver 22 percent growth, which is in line with our historical track record and surpasses our minimum Company goal of 20 percent," said James Truchard, President and CEO of National Instruments. "We feel our increased investments in R&D, sales, and marketing spurred our success and I look forward to leading National Instruments in exploiting our future opportunities." Revenues for the third quarter were $82.7 million, up 22 percent from $67.9 million in the third quarter of 1998. Geographically, the breakdown of revenue growth for the quarter compared to the third quarter of 1998 was as follows: Americas 20 percent revenue growth; Europe 25 percent revenue growth; and Asia/Pacific 23 percent revenue growth. Excluding acquisition charges of $2.1 million in Q3 1999 and $750,000 in Q3 1998, net income was $11.4 million for Q3 1999 compared to $9.0 million for Q3 1998, an increase of 26 percent. Excluding these acquisition charges, basic earnings per share for Q3 1999 was $0.23, compared to $0.18 in the same period last year and fully diluted earnings per share for Q3 1999 was $0.22, compared with $0.18 per share for Q3 1998. Including these acquisition charges, net income for the quarter increased by 17 percent to $9.9 million, or $0.20 basic earnings per share, compared to net income of $8.5 million, or $0.17 basic earnings per share, in the third quarter of 1998. Including these acquisition charges, fully diluted earnings per share was $0.19 for the third quarter of 1999 compared to $0.17 for the same period last year. "The acquisition of GFS on September 1, 1999 allows us to further penetrate the automotive industry with our software and hardware products by building on the success GFS has established in their nearly 20 years of service to the German automotive industry," said Alex Davern, Chief Financial Officer of National Instruments. "We are excited by the technology that GFS brings to National Instruments and are looking forward to seeing the results of their current development initiatives." This release may contain "forward-looking statements" (as defined under securities laws), which are subject to a number of risks and uncertainties. Actual results may differ materially from the expected results. The Company directs you to documents filed with the SEC for risks associated with the company's future performance. National Instruments, a leading supplier of computer-based measurement and automation products, manufactures hundreds of software and hardware products which, when combined with industry-standard computers, are used for test, measurement, and industrial automation applications.