National Instruments (NATI) Tops Q3 EPS by 9c, Beats on Revenues; Q4 EPS Guidance Above Consensus
National Instruments (NASDAQ: NATI) reported Q3 EPS of $0.32, $0.09 better than the analyst estimate of $0.23. Revenue for the quarter came in at $321 million versus the consensus estimate of $319.79 million.
NI currently expects Q4 revenue to be in the range of $331 million to $361 million, which would be a new Q4 record at the midpoint. Based on current exchange rates, the company expects that the impact of foreign exchange on dollar revenue will be minimal in Q4. The company currently expects that GAAP fully diluted EPS will be in the range of $0.27 to $0.41 for Q4, with non-GAAP fully diluted EPS expected to be in the range of $0.34 to $0.48. Included in the company’s Q4 2017 GAAP EPS guidance is approximately $1 million of restructuring charges. For 2017, NI estimates its non-GAAP effective tax rate to be approximately 21 percent.
National Instruments sees Q4 2017 EPS of $0.34-$0.48, versus the consensus of $0.36. National Instruments sees Q4 2017 revenue of $331-361 million, versus the consensus of $352.6 million.
Q3 2017 Highlights
- Revenue of $321 million, up 5 percent year over year
- GAAP gross margin of 74 percent
- Non-GAAP gross margin of 75 percent
- Fully diluted GAAP EPS of $0.25 and fully diluted non-GAAP EPS of $0.32
- GAAP net income of $33 million
- Non-GAAP net income of $42 million
- GAAP net income up 43% year over year through first nine months
- Non-GAAP net income up 28% year over year through first nine months
- EBITDA of $57 million
- Cash and short-term investments of $385 million as of September 30, 2017
For earnings history and earnings-related data on National Instruments (NATI) click here.