National instruments corporation (NATI)
Income statement / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Sep'09Jun'09
Net sales:
Total net sales

1,351,522

1,353,215

1,345,846

1,351,531

1,358,309

1,359,132

1,348,783

1,323,577

1,301,177

1,289,386

1,268,169

1,253,612

1,241,108

1,228,179

1,233,986

1,227,434

1,223,120

1,225,456

1,223,892

1,237,781

1,248,701

1,243,862

1,211,892

1,187,329

1,170,744

1,172,558

1,172,078

1,172,914

1,169,047

1,143,692

1,121,417

1,086,431

1,047,456

1,024,173

996,085

961,546

919,979

873,220

788,292

720,006

0

0

0

GSA accrual

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

0

-

-

-

0

-

-

-

-

Cost of sales:
Total cost of sales

344,577

336,891

333,786

336,886

335,279

333,727

331,286

326,022

326,323

328,324

325,470

318,451

313,499

313,121

317,165

317,599

316,766

316,956

314,337

318,120

323,266

318,132

309,954

304,211

306,205

305,243

303,842

302,130

289,166

280,274

273,080

264,801

249,836

240,964

229,876

216,564

209,317

200,083

185,683

174,266

0

0

0

Gross profit

1,006,945

1,016,324

1,012,060

1,014,645

1,023,030

1,025,405

1,017,497

997,555

974,854

961,062

942,699

935,161

927,609

915,058

916,821

909,835

906,354

908,500

909,555

919,661

925,435

925,730

901,938

883,118

864,539

867,315

868,236

870,784

879,881

863,418

848,337

821,630

797,620

783,209

766,209

744,982

710,662

673,137

602,609

545,740

0

0

0

Operating expenses:
Sales and marketing

471,587

473,392

469,442

473,740

480,010

482,576

485,063

483,504

480,780

477,921

473,339

473,340

465,287

461,236

462,577

460,422

455,916

452,262

449,734

451,963

459,482

461,845

457,942

452,459

445,646

447,800

449,331

447,291

445,486

431,468

422,242

416,224

401,665

388,768

372,987

349,286

332,320

319,606

298,292

283,935

0

0

0

Research and development

277,907

272,452

267,132

266,744

265,395

261,072

254,980

245,336

235,341

231,761

229,163

231,703

234,629

235,706

234,914

228,381

223,951

225,131

225,813

232,252

232,694

227,433

224,358

226,177

228,799

234,796

238,586

234,422

230,235

222,994

219,430

217,477

210,218

199,071

187,806

173,103

162,471

158,149

149,928

139,404

0

0

0

General and administrative

121,065

122,768

119,635

110,636

109,484

108,878

109,081

108,837

107,136

105,602

102,485

100,554

99,493

98,390

98,851

97,569

95,604

93,935

91,802

91,288

91,763

91,265

89,909

88,531

87,047

87,418

88,012

87,363

86,709

85,239

85,029

85,463

85,193

82,658

78,587

74,831

70,568

67,069

62,007

59,367

0

0

0

Gain on sale of assets

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,316

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

843,717

841,770

829,367

851,120

854,889

852,526

849,124

837,677

823,257

815,284

804,987

805,597

799,409

795,332

796,342

786,372

775,471

771,328

767,349

775,503

783,939

780,543

772,209

767,167

761,492

768,698

781,396

774,543

767,897

746,484

726,701

719,164

697,076

670,497

639,380

597,220

565,359

544,824

510,227

482,706

0

0

0

Gain on sale of business

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating income

322,981

174,554

182,693

163,525

168,141

172,879

168,373

159,878

151,597

145,778

137,712

129,564

128,200

119,726

120,479

123,463

130,883

137,172

142,206

144,158

141,496

145,187

129,729

115,951

103,047

98,617

86,840

96,241

111,984

116,934

121,636

102,466

100,544

112,712

126,829

147,762

145,303

128,313

92,382

63,034

0

0

0

Other income:
Interest income

8,194

8,129

8,239

7,848

7,115

5,896

4,611

3,729

2,948

2,276

1,844

1,463

1,212

1,122

1,100

1,220

1,303

1,403

1,430

1,396

1,289

1,133

977

748

691

679

716

716

671

716

775

996

1,208

1,319

1,379

1,405

1,432

1,391

1,390

1,417

0

0

0

Net foreign exchange (loss) gain

-2,717

-1,846

-2,964

-3,542

-4,036

-3,423

-2,815

-763

1,789

892

-1,536

-3,392

-5,124

-4,632

-6,581

-5,535

-4,827

-7,075

-3,210

-3,948

-3,974

-2,250

-1,526

-618

-1,066

-2,578

-2,164

-2,855

-2,820

-2,246

-3,477

-3,950

-3,420

-2,755

-1,527

-393

-2,110

-2,585

-1,535

-898

0

0

0

Other loss, net

-1,503

-293

1,749

2,834

1,596

1,101

-441

-3,376

-2,516

-1,566

-486

968

1,256

-1,581

-3,059

-3,227

-3,255

-221

434

231

471

-69

5

379

514

450

805

-398

-647

-567

-566

238

-484

-142

-197

58

1,091

993

1,452

1,626

0

0

0

Income before income taxes

326,955

180,544

189,717

170,665

172,816

176,453

169,728

159,468

153,818

147,380

137,534

128,603

125,544

114,635

111,939

115,921

124,104

131,279

140,860

141,837

139,282

144,001

129,185

116,460

103,186

97,168

86,197

93,704

109,188

114,837

118,368

99,750

97,848

111,134

126,484

148,832

145,716

128,112

93,689

65,179

0

0

0

Provision for income taxes

55,369

18,393

29,620

19,018

18,807

21,396

95,493

95,038

95,287

94,969

31,695

31,664

33,960

31,901

26,214

31,507

34,548

36,017

34,351

18,804

16,668

17,668

14,509

25,722

22,550

16,655

16,698

15,629

19,093

24,700

24,618

17,604

15,595

17,062

18,711

25,662

24,492

18,996

12,670

7,863

0

0

0

Net income

271,586

162,151

160,097

151,647

154,009

155,057

74,235

64,430

58,531

52,411

105,839

96,939

91,584

82,734

85,725

84,414

89,556

95,262

106,509

123,033

122,614

126,333

114,676

90,738

80,636

80,513

69,499

78,075

90,095

90,137

93,750

82,146

82,253

94,072

107,773

123,170

121,224

109,116

81,019

57,316

0

0

0

Basic earnings per share (in dollars per share)

1.02

0.44

0.39

0.22

0.18

0.41

0.33

0.24

0.19

-0.19

0.26

0.19

0.14

0.23

0.19

0.15

0.07

0.25

0.18

0.19

0.12

0.34

0.31

0.19

0.15

0.25

0.13

0.12

0.15

0.17

0.20

0.22

0.15

0.20

0.11

0.22

0.26

0.32

0.24

0.21

0.16

0.13

0.06

Weighted average shares outstanding - basic (in shares)

130,613

131,189

131,385

132,062

132,252

132,587

132,357

131,877

131,127

130,905

130,660

130,197

129,438

129,120

128,815

128,282

127,595

127,331

127,935

128,682

128,040

127,782

127,478

126,887

125,973

125,517

125,032

124,377

123,306

122,781

122,402

121,801

120,908

120,607

120,308

119,736

118,693

117,660

117,264

116,898

116,070

77,653

77,556

Diluted earnings per share (in dollars per share)

1.01

0.44

0.39

0.22

0.17

0.43

0.32

0.23

0.18

-0.18

0.25

0.19

0.14

0.23

0.19

0.15

0.07

0.25

0.18

0.19

0.12

0.34

0.31

0.19

0.15

0.24

0.13

0.12

0.15

0.16

0.20

0.22

0.15

0.20

0.11

0.22

0.25

0.31

0.24

0.21

0.16

0.13

0.06

Weighted average shares outstanding - diluted (in shares)

131,357

132,707

131,889

132,973

133,367

134,221

133,197

133,054

132,624

132,706

131,617

131,117

130,108

130,136

129,047

128,746

128,103

128,430

128,229

129,337

128,676

129,056

127,903

127,512

126,725

127,041

125,608

125,270

124,365

124,103

123,074

122,759

121,972

122,174

121,102

121,161

120,443

119,855

118,293

118,488

117,652

78,103

77,824

Dividends declared per share (in dollars per share)

0.26

0.25

0.25

0.25

0.25

0.23

0.23

0.23

0.23

0.21

0.21

0.21

0.21

0.20

0.20

0.20

0.20

0.19

0.19

0.19

0.19

0.15

0.15

0.15

0.15

0.14

0.14

0.14

0.14

0.14

0.14

0.14

0.14

0.10

0.10

0.10

0.10

0.08

0.09

0.09

0.09

0.12

0.12

Product
Total net sales

1,211,290

1,215,014

1,205,419

1,210,388

1,217,370

1,220,027

1,217,611

1,199,286

1,182,323

1,173,476

1,153,438

1,140,068

1,128,781

1,116,703

1,123,011

1,116,173

1,111,450

1,113,590

1,112,240

1,127,893

1,142,310

1,143,000

1,118,347

1,100,593

1,088,032

1,091,186

1,089,304

1,087,616

1,080,932

1,054,849

1,032,814

1,012,176

976,338

955,613

932,980

888,912

850,601

807,386

725,519

662,123

0

0

0

Total cost of sales

337,247

329,364

326,059

329,014

327,079

325,208

322,078

316,637

315,984

318,863

318,583

311,676

307,717

306,730

309,717

310,127

310,554

311,226

308,740

312,862

317,883

312,623

304,429

298,704

300,849

299,854

298,419

296,674

283,674

274,839

267,873

259,656

244,672

235,839

224,618

211,419

203,792

195,096

180,294

169,116

0

0

0

Software maintenance
Total net sales

140,232

138,201

140,427

141,143

140,939

139,105

131,172

124,291

118,854

115,910

114,731

113,544

112,327

111,476

110,975

111,261

111,670

111,866

111,652

109,888

106,391

100,862

93,545

86,736

82,712

81,372

82,774

85,298

86,766

87,494

87,254

86,013

84,225

81,667

76,212

72,634

69,378

65,834

62,773

57,883

0

0

0

Total cost of sales

7,330

7,527

7,727

7,872

8,200

8,519

9,208

9,385

10,339

9,461

6,887

6,775

5,782

6,391

7,448

7,472

6,212

5,730

5,597

5,258

5,383

5,509

5,525

5,507

5,356

5,389

5,423

5,456

5,492

5,435

5,207

5,145

5,164

5,125

5,258

5,145

5,525

4,987

5,389

5,150

0

0

0