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Last Update: 04-Jan-12 10:48 ET
Natl Instruments Down 8% On Weak Fourth Quarter Guidance
Natl Instruments (NATI $24.21 -2.16) is trading sharply lower after issuing weak guidance after the close yesterday.
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Late yesterday, the company announced that it expects to see fourth quarter revenue of approx $279 million, Capital IQ consensus $294.5 million; sees non-GAAP EPS in the range of $0.26 to $0.27, consensus $0.32.
Sequentially, the company saw the greatest reduction in year-over-year revenue growth in Europe, where revenue growth in US dollars dropped from 25 percent year-over-year in Q3 to 3 percent in Q4. In Asia and in the Americas year-over-year organic revenue growth in Q4 was approximately 10 percent. Including acquisitions, year-over-year revenue growth in the Americas was approximately 20 percent.
"While it is clear that the industrial economy, especially in Europe, experienced a slowdown in Q4, we believe the diversity of our business and the solid execution of our sales force allowed us to continue to gain market share," said James Truchard, NI president, co-founder and CEO. "Going forward, we will be very disciplined in managing our expenses, while ensuring we continue to serve the growing industries that are fundamental to the needs of society such as energy, medical, communications, and academic." The company will provide final results and detailed guidance for Q1 2012 in its Q4 2011 conference call on Jan. 31, 2012.
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Late yesterday, the company announced that it expects to see fourth quarter revenue of approx $279 million, Capital IQ consensus $294.5 million; sees non-GAAP EPS in the range of $0.26 to $0.27, consensus $0.32.
Sequentially, the company saw the greatest reduction in year-over-year revenue growth in Europe, where revenue growth in US dollars dropped from 25 percent year-over-year in Q3 to 3 percent in Q4. In Asia and in the Americas year-over-year organic revenue growth in Q4 was approximately 10 percent. Including acquisitions, year-over-year revenue growth in the Americas was approximately 20 percent.
"While it is clear that the industrial economy, especially in Europe, experienced a slowdown in Q4, we believe the diversity of our business and the solid execution of our sales force allowed us to continue to gain market share," said James Truchard, NI president, co-founder and CEO. "Going forward, we will be very disciplined in managing our expenses, while ensuring we continue to serve the growing industries that are fundamental to the needs of society such as energy, medical, communications, and academic." The company will provide final results and detailed guidance for Q1 2012 in its Q4 2011 conference call on Jan. 31, 2012.
