This release contains “forward-looking statements” including statements regarding our preliminary estimate for revenue in the first quarter of 2016 of $288 million, continuing to gain market share, that we plan to be very disciplined in managing our expenses, while working to ensure that our highly differentiated platform and broad ecosystem continues to help engineers and scientists address their test, measurement and control needs, that we expect that GAAP fully diluted earnings per share (EPS) will be in the range of $0.06 to $0.07 per share for Q1 with non-GAAP fully diluted EPS to be in the range of $0.14 to $0.15 per share, that we plan to leverage the strategic investments we have already made, while managing expenses carefully, and that we will be focused on driving operating leverage while gaining market share. These statements are subject to a number of risks and uncertainties, including the risk of adverse changes or fluctuations in the global economy, foreign exchange fluctuations, component shortages, delays in the release of new products, fluctuations in demand for NI products including orders from NI’s largest customer, the company’s ability to effectively manage its operating expenses, manufacturing inefficiencies and the level of capacity utilization, the impact of any recent or future acquisitions by NI, expense overruns, adverse effects of price changes, effective tax rates and any changes to our preliminary estimated financial results resulting from our quarterly financial closing procedures. Actual results may differ materially from the expected results.
The company directs readers to its Form 10-K for the year ended Dec. 31, 2015; and the other documents it files with the SEC for other risks associated with the company’s future performance.
About NI
Since 1976, NI ( www.ni.com) has made it possible for engineers and scientists to solve the world’s greatest engineering challenges with powerful, flexible technology solutions that accelerate productivity and drive rapid innovation. Customers from a wide variety of industries – from healthcare to automotive and from consumer electronics to particle physics – use NI’s integrated hardware and software platform to improve the world we live in. (NATI-F)
| Reconciliation of Preliminary GAAP Revenue to Preliminary Core Revenue (unaudited) | ||||
| Three Months Ended | ||||
| March 31, | ||||
| 2016 | ||||
| Preliminary YoY GAAP revenue growth |
-0.5 |
% |
||
| Effect of excluding our current largest customer | -1.4 | % | ||
| YoY GAAP revenue growth, excluding our largest customer | -1.9 | % | ||
| Effect of excluding the impact of foreign currency exchange | 5.7 | % | ||
| Preliminary YoY Core revenue growth | 3.8 | % | ||
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| Reconciliation of Preliminary GAAP Diluted EPS to Preliminary Non-GAAP Diluted EPS (unaudited) | ||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2016 | ||||||||
| Low | High | |||||||
| Preliminary GAAP diluted EPS | $ | 0.06 | $ | 0.07 | ||||
| Adjustment to reconcile diluted EPS to non-GAAP diluted EPS: | ||||||||
| Impact of stock-based compensation, net of tax effect | 0.04 | 0.04 | ||||||
| Impact of amortization of acquisition intangibles, net of tax effect | 0.03 | 0.03 | ||||||
| Impact of acquisition restructuring costs, net of tax effect | 0.01 | 0.01 | ||||||
| Preliminary Non-GAAP diluted EPS | $ | 0.14 | $ | 0.15 | ||||
