National Instruments Reports Record Revenue and Net Income
For 2005, revenue totaled $572 million, up 11 percent from $514 million in 2004, marking record annual revenue and the company's 28th year of revenue growth. Fully diluted earnings per share (EPS) for 2005 was 76 cents with record annual net income of $62 million, a 27 percent increase over 2004, and an operating margin of 14 percent up from 12 percent in 2004.
The company also announced today a 20 percent increase in its dividend to 6 cents per share of its common stock payable on Feb. 27, 2006, to shareholders of record on Feb. 6, 2006. Additionally, during Q4, the company used $8 million for the repurchase of 315,000 shares of the company's common stock at an average price of $25. NI continues to have a very strong balance sheet, with $176 million in net cash and short-term investments and no debt as of Dec. 31, 2005.
"Given the record year for revenue and profits in 2005 and our very strong balance sheet, the Board of Directors has approved a 20 percent dividend increase to 6 cents per share," said NI CFO Alex Davern.
"Our strategic investments in R&D over the last several years have paid off with a record number of new products released in 2005," said Dr. James Truchard, NI president and CEO. "I am pleased with the progress the company has made in expanding market share, while establishing strategic new growth areas for virtual instrumentation, such as high-performance measurements, RF instrumentation, and industrial and machine control."
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