-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KPAtnz9a7T+sYt1V+bkS8oM6gUHs8aLA6Ik+nk6zPcdLw3+aOtyVPM1RTSYIPuEQ dt5d7XdWZZ3RH2SRWwi6BA== 0001181431-04-046328.txt : 20041004 0001181431-04-046328.hdr.sgml : 20041004 20041004164724 ACCESSION NUMBER: 0001181431-04-046328 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041004 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041004 DATE AS OF CHANGE: 20041004 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL INSTRUMENTS CORP /DE/ CENTRAL INDEX KEY: 0000935494 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 741871327 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25426 FILM NUMBER: 041063033 BUSINESS ADDRESS: STREET 1: 11500 NORTH MOPAC EXPRESSWAY CITY: AUSTIN STATE: TX ZIP: 78759 BUSINESS PHONE: 5123389119 MAIL ADDRESS: STREET 1: 11500 NORTH MOPAC EXPRESSWAY CITY: AUSTIN STATE: TX ZIP: 78759 8-K 1 rrd54267.htm CURRENT REPORT, ITEMS 2.02 AND 9.01 Prepared By R.R. Donnelley Financial -- Form 8-K
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C., 20549
 
Form 8-K
 
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date Of Report (Date Of Earliest Event Reported):  10/04/2004
 
NATIONAL INSTRUMENTS CORP /DE/
(Exact Name of Registrant as Specified in its Charter)
 
Commission File Number:  000-25426
 
DE
  
741871327
(State or Other Jurisdiction of
  
(I.R.S. Employer
Incorporation or Organization)
  
Identification No.)
 
11500 North Mopac Expressway
Austin, TX 78759
(Address of Principal Executive Offices, Including Zip Code)
 
(512)338-9119
(Registrant’s Telephone Number, Including Area Code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17CFR240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17CFR240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17CFR240.13e-4(c))
 

Items to be Included in this Report

 
Item 2.02.    Results of Operations and Financial Condition
 
Attached hereto as Exhibit 99.1 and incorporated by reference herein is the text of the registrant's press release, dated October 4, 2004, regarding preliminary financial results for the registrant's third fiscal quarter ended September 30, 2004.

The information in this Current Report on Form 8-K is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.

 
 
Item 9.01.    Financial Statements and Exhibits
 
(c)        Exhibits.

99.1        Press Release dated October 4, 2004.

 

 

Signature(s)
 
Pursuant to the Requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the Undersigned hereunto duly authorized.
 
      
 
    NATIONAL INSTRUMENTS CORP /DE/
 
 
Date: October 04, 2004.
     
By:
 
/s/    DAVID G. HUGLEY
               
        DAVID G. HUGLEY
               
Vice President & General Counsel Secretary
 
 

 

Exhibit Index
 
EX-99.1 2 rrd54267_1112.htm PRESS RELEASE DATED OCTOBER 4, 2004 Contacts:

Exhibit 99.1
Exhibit No.
  
Description
EX-99.1
  
Press Release dated October 4, 2004

Contacts:

Rebecca Geier
Corporate Communications and Investor Relations Manager
(512) 683-5325

National Instruments Lowers Q3 Y-O-Y Revenue Growth Guidance to 20%
NI Estimates that diluted EPS for Q3 2004 will be approximately $0.11

AUSTIN, Texas -- October 4, 2004 -- National Instruments (NASDAQ:NATI) today announced preliminary revenue for the third quarter of 2004 of approximately $125 million, a 20 percent increase over the third quarter of 2003. NI estimates that diluted earnings per share for the third quarter of 2004 will be approximately $0.11. This estimate is below the company's previous guidance for Q3 of 21 percent to 25 percent year-over-year (Y-O-Y) revenue growth and diluted EPS of $0.13 to $0.16.

"While acceptance of our new products continued to be strong, we saw a slight softening in the business climate in Europe and Asia," said Alex Davern, NI CFO. "Our instrument control products, which now represent less than 16 percent of total revenue, saw a $2 million sequential drop in revenue in Q3, a quarter when we normally see an increase in demand for instrument control. This sequential revenue drop reflects the slowdown in Y-O-Y order growth seen in recent announcements by other large test and ATE companies."

"Through mid-August, our business was on track with the guidance we provided," added Davern. "However, starting in late August and continuing through September, we saw a slowdown in our Y-O-Y revenue growth in Europe and Asia reflecting the decline seen in JP Morgan's Global Purchasing Managers Index in August and September."

Revenue in U.S. dollars for the third quarter of 2004 compared to the third quarter of 2003 was approximately as follows: Americas, up 24 percent; Europe, up 14 percent; Asia, up 19 percent and worldwide, up 20 percent.

"Despite the apparent slowdown in the test and measurement marketplace, we were pleased with the customer response to numerous NIWeek product introductions, as initial orders for these new products were strong," said James Truchard, NI president and CEO. "Sales of our new M Series and CompactRIO data acquisition and industrial control products exceeded our forecasts, and we saw record sales of software in Q3. We will continue to focus on the success of our new products as the key to driving sustained growth."

-- More --

National Instruments Lowers Estimates for Third Quarter 2004 Results
October 4, 2004
Page 2

NI continues to have a very strong balance sheet. During the quarter, the company repurchased approximately 251,000 shares of common stock at an average price of $26.85.

NI will discuss preliminary results for the third quarter in a conference call Monday, October 4, 2004, beginning at 4:30 p.m. CDT, at ni.com/call. Replay information will be available by calling (719) 457-0820, confirmation code #822245, from October 4, 2004, at 7:00 p.m. CDT, to October 11, 2004, at 12:00 a.m. CDT.

This release contains "forward-looking statements," including our expected revenue and earnings per share for the third quarter of 2004, strong acceptance of new products, softening business climate, decline in sales of instrument control products, strong customer response to NIWeek, sales of new products exceeding expectations and focus on success of new products, which are subject to a number of risks and uncertainties, including the risk of further deterioration in the global economy, delays in releases of new products, changes in demand for new products, unexpected decline in sales for data acquisition and instrument control products and foreign exchange fluctuations. All statements made regarding anticipated third quarter results are based on current information and are subject to audit and other closing adjustments. 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 performan ce.

About National Instruments

National Instruments (www.ni.com) is a technology pioneer and leader in virtual instrumentation -- a revolutionary concept that has changed the way engineers and scientists in industry, government and academia approach measurement and automation. Leveraging the PC and its related technologies, virtual instrumentation increases productivity and lowers costs through easy-to-integrate software, such as the NI LabVIEW graphical development environment, and modular hardware, such as PXI modules for data acquisition, instrument control and machine vision. Headquartered in Austin, Texas, NI has more than 3,100 employees and direct operations in 41 countries. In 2003, the company sold products to more than 25,000 companies in 90 countries. For the past five years, FORTUNE magazine named NI one of the 100 best companies to work for in America.

NI investment information may be obtained from the Company's Investor Relations Department at by calling (512) 683-5090, by sending e-mail to nati@ni.com or by visiting ni.com/nati.

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

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