National Instruments (NATI) Tops Q4 EPS by 38c, Revenues Beat; Offers 1Q EPS/Revenue Guidance Above Consensus

January 28, 2021 4:11 PM EST

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National Instruments (NASDAQ: NATI) reported Q4 EPS of $0.51, $0.38 better than the analyst estimate of $0.13. Revenue for the quarter came in at $368 million versus the consensus estimate of $359.59 million.

Q4 2020 Highlights

  • Revenue of $368 million
  • Orders up 7 percent year over year
  • Diluted GAAP EPS of $0.04
  • Diluted non-GAAP EPS of $0.51
  • Cash and short-term investments of $320 million as of Dec. 31, 2020

“This year was a stress test for our strategy and it proved resilient. We delivered a strong close to a challenging year with record quarterly revenue above the high end of guidance," said Eric Starkloff, NI president and CEO. "The areas where we have focused showed strength and momentum increased throughout the year with fourth quarter orders up sequentially across all regions and business units. I believe we enter 2021 in a position of strength and poised to accelerate growth and deliver increased value to all our stakeholders."

GUIDANCE:

National Instruments sees Q1 2021 EPS of $0.24-$0.38, versus the consensus of $0.11. National Instruments sees Q1 2021 revenue of $324-354 million, versus the consensus of $316.97 million.

NI currently expects Q1 revenue to be in the range of $324 million to $354 million and Q1 non-GAAP revenue, which we define as GAAP revenue adjusted to exclude the impact of purchase accounting fair value adjustments (for Q4 2020 these adjustments related to our recently acquired OptimalPlus subsidiary), to be in the range of $325 million to $355 million. The company currently expects that GAAP diluted EPS will be in the range of $(0.05) to $0.09 for Q1, with non-GAAP diluted EPS expected to be in the range of $0.24 to $0.38. For 2021, NI estimates its non-GAAP effective tax rate to be approximately 17 percent to 18 percent.

For earnings history and earnings-related data on National Instruments (NATI) click here.



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