Press Release Details

NI Reports Record Revenue for a First Quarter of $335 Million

Momentum continued with strong YOY order growth across all regions and business units

Q1 2021 Highlights

  • Revenue of $335 million, up 8 percent year-over-year
  • GAAP gross margin of 72 percent and non-GAAP gross margin of 75 percent
  • Fully diluted GAAP EPS of $0.03 and fully diluted non-GAAP EPS of $0.32
  • Cash and short-term investments of $299 million as of Mar. 31, 2021

AUSTIN, Texas--(BUSINESS WIRE)--Apr. 29, 2021-- NI (Nasdaq: NATI) today announced Q1 2021 revenue of $335 million, up 8 percent year-over-year, a record for a first quarter.

For Q1 2021, the company's orders were up 19 percent year-over-year. For Q1, year-over-year orders in the Americas region were up 8 percent, in EMEA orders were up 2 percent, and in APAC orders were up 51 percent.

Geographic revenue in U.S. dollar terms for Q1 2021 compared with Q1 2020 was up 1 percent in the Americas, up 26 percent in APAC and down 1 percent in EMEA. Historical revenue from these three regions can be found on NI’s investor website at www.ni.com/nati.

In Q1, GAAP gross margin was 72 percent and non-GAAP gross margin was 75 percent. GAAP operating expenses were $230 million, up 8 percent year-over-year. Total non-GAAP operating expenses were up 4 percent year-over-year at $201 million. GAAP operating margin was 3 percent in Q1, with GAAP operating income of $10 million, down 94 percent year-over-year, due primarily to the sale of our AWR subsidiary in Q1 2020. Non-GAAP operating margin was 15 percent in Q1, with non-GAAP operating income of $52 million, up 27 percent year-over-year.

GAAP net income for Q1 was $4 million, with fully diluted earnings per share (EPS) of $0.03, and non-GAAP net income was $42 million, with non-GAAP fully diluted EPS of $0.32.

“Momentum continued with an all-time record for first quarter orders. Demand was above typical seasonality with orders up year-over-year across all regions and business units,” said Eric Starkloff, NI CEO. “I'm inspired by our long-term growth opportunities and confident in the solid global execution of our growth strategy. Our continued focus on systems and enterprise software can serve as a strong foundation to deliver sustainable growth while creating value for ​all our stakeholders.”

​"In Q1, we reported record revenue for a first quarter. Due to broad supply chain constraints across our industry, not all orders were shipped within the quarter resulting in an increase in backlog,” said Karen Rapp, NI CFO. “We remain confident in our ability to ultimately ship our backlog and optimistic in the continued strength in our business as we continue to align resources to higher growth opportunities in pursuit of our long-term financial model. Our ability to accelerate our growth strategy is indicative of the value customers see in our innovative platform, stability provided by our industry diversity, and our operational excellence."

As of Mar. 31, 2021, NI had $299 million in cash and short-term investments. During Q1, NI paid $36 million in dividends. The NI Board of Directors approved a dividend of $0.27 per share payable on June 1, 2021, to stockholders of record on May 10, 2021.

The company’s non-GAAP results exclude, as applicable, the impact of stock-based compensation, amortization of acquisition-related intangibles, acquisition-related transaction and integration costs, taxes levied on the transfer of acquired intellectual property, foreign exchange gain/loss on acquisitions, restructuring charges, tax reform charges, disposal gain/loss on buildings and related charitable contributions, tax effects related to businesses held for sale, gain/loss on sale of business, impairment losses on equity-method investments, and capitalization and amortization of internally developed software costs. Reconciliations of the company’s GAAP and non-GAAP results are included as part of this news release.

Guidance

Company expects revenue in Q2 to be constrained by component availability with estimated order growth in the range of 20 percent to 25 percent YOY. NI currently expects Q2 revenue to be in the range of $304 million to $334 million and Q2 non-GAAP revenue, which we define as GAAP revenue adjusted to exclude the impact of purchase price accounting (which for Q2 2021 we expect to relate to our acquired OptimalPlus subsidiary) to be in the range of $305 million to $335 million. The company currently expects that GAAP diluted EPS will be in the range of ($0.02) to $0.12 for Q2, with non-GAAP diluted EPS expected to be in the range of $0.21 to $0.35. For 2021, NI estimates its non-GAAP effective tax rate to be approximately 17 percent to 18 percent.

Conference Call Information

Interested parties can listen to the Q1 2021 earnings conference call with NI Management today at www.ni.com/call or dial (855) 212-2361 and enter confirmation code 4779981. Replay information is available by calling (855) 859-2056, confirmation code 4779981, shortly after the call through May 4 at 11:59 p.m. CT or by visiting the company’s website at www.ni.com/call.

Non-GAAP Presentation

In addition to disclosing results determined in accordance with GAAP, NI discloses certain non-GAAP operating results and non-GAAP information that exclude certain charges. In this news release, the company has presented its gross profit, gross margin, operating expenses, operating income, operating margin, provision for income taxes, net income, net margin and diluted EPS for the three-month periods ending Mar. 31, 2021 and 2020, on a GAAP and non-GAAP basis. In this news release the company has also presented its non-GAAP revenue, and guidance for its Q2 non-GAAP revenue as well as guidance for its Q2 non-GAAP fully diluted EPS. In this news release revenue is also referred to as net sales, and non-GAAP revenue is also referred to as non-GAAP net sales. In this news release the company has also presented its estimated non-GAAP effective tax rate for 2021. The company includes a reconciliation of the non-GAAP results to the GAAP results in the tables accompanying this news release. The company is not able to provide guidance on its GAAP tax rate or a related reconciliation without unreasonable efforts since its future GAAP tax rate depends on its future stock price and related information that is not currently available. Management believes that including the non-GAAP results assists investors in assessing the company’s operational performance and its performance relative to its competitors. The company presents these non-GAAP results as a complement to results provided in accordance with GAAP, and these results should not be regarded as a substitute for GAAP. Management uses these non-GAAP measures to manage and assess the profitability and performance of its business and does not consider purchase accounting fair value adjustments, stock-based compensation expense, amortization of acquisition-related intangibles, acquisition-related transaction and integration costs, taxes levied on the transfer of acquired intellectual property, foreign exchange gain/loss on acquisitions, restructuring charges, tax reform charges, disposal gain/loss on buildings and related charitable contributions, tax effects related to businesses held-for-sale, gain/loss on sale of businesses, impairment losses on equity-method investments and capitalization and amortization of internally developed software costs in managing its operations. Specifically, management uses non-GAAP measures to plan and forecast future periods; to establish operational goals; to compare with its business plan and individual operating budgets; to measure management performance for the purposes of executive compensation, including payments to be made under bonus plans; to assist the public in measuring the company’s performance relative to the company’s long-term public performance goals; to allocate resources; and, relative to the company’s historical financial performance, to enable comparability between periods. Management also considers such non-GAAP results to be an important supplemental measure of its performance.

This news release discloses the company’s EBITDA for the three-month periods ending Mar. 31, 2021 and 2020. The company believes that including the EBITDA results assists investors in assessing the company’s operational performance relative to its competitors. A reconciliation of EBITDA to GAAP net income is included with this news release.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including without limitation statements regarding our continued momentum across regions and business units, our growth opportunities, strategies and related acceleration, the ability of our continued focus in systems and enterprise software to serve as a foundation to deliver sustainable growth while creating value for all our stakeholders, confidence in our ability to ship backlog and optimism in the continued strength in our business as we continue to align resources to higher growth opportunities in pursuit of our long-term financial model, and our guidance and expectations for our Q2 2021 GAAP and non-GAAP revenue, GAAP and non-GAAP EPS, and our estimated 2021 non-GAAP effective tax rate. These statements are subject to a number of risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: the effect of the global economic and geopolitical conditions; our international operations and foreign economies; adverse public health matters, including epidemics and pandemics such as the COVID-19 pandemic; our ability to effectively manage our partners and distribution channels; interruptions in our technology systems; cyber-attacks; the dependency of our product revenue on certain industries and the risk of contractions in such industries; fluctuations in demand for our products including orders from our large customers; concentration of credit risk and uncertain conditions in the global financial markets; our ability to compete in markets that are highly competitive; our ability to release successful new products or achieve expected returns; the risk that our manufacturing capacity and a substantial majority of our warehousing and distribution capacity are located outside of the U.S.; our dependence on key suppliers and distributors; component shortages; longer delivery lead times from our suppliers; risk of product liability claims; dependence on our proprietary rights and risks of intellectual property litigation; the continued service of key management and technical personnel; the ability to comply with environmental laws and associated costs; our ability to maintain our website; the risks of bugs, vulnerabilities, errors or design flaws in our products; our ability to achieve the benefits of employee restructuring plans; our exposure to large orders; our ability to effectively manage our operating expenses and meet budget; expense overruns; manufacturing inefficiencies and the level of capacity utilization; fluctuations in our quarterly results due to factors outside of our control; our outstanding debt; our revenues are subject to seasonal variation; our ability to comply with laws and regulations; changes in tax rates and exposure to additional tax liabilities; our ability to make certain acquisitions or dispositions, integrate the companies we acquire or separate the companies we sold and/or enter into strategic relationships; risks related to currency fluctuations; adverse effects of price changes; and changes in accounting principles. The company directs readers to its Form 10-K for the year ended Dec. 31, 2020, and the other documents it files with the SEC for other risks associated with the company’s future performance. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in our forward-looking statements.

All information in this release is as of the date above. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.

About NI

NI (ni.com) develops high-performance automated test and automated measurement systems to help you solve your engineering challenges now and into the future. Our open, software-defined platform uses modular hardware and an expansive ecosystem to help you turn powerful possibilities into real solutions. (NATI-F)

National Instruments, NI and ni.com are trademarks of National Instruments. Other product and company names listed are trademarks or trade names of their respective companies.

National Instruments

Condensed Consolidated Balance Sheets

(in thousands)

 

March 31,

 

December 31,

 

2021

 

2020

 

(unaudited)

 

 

Assets

 

 

Cash and cash equivalents

$

266,712

 

$

260,232

 

Short-term investments

32,171

 

59,923

 

Accounts receivable, net

241,088

 

266,869

 

Inventories, net

197,179

 

194,012

 

Prepaid expenses and other current assets

75,674

 

68,470

 

Total current assets

812,824

 

849,506

 

Property and equipment, net

252,320

 

254,399

 

Goodwill

462,646

 

467,547

 

Intangible assets, net

159,639

 

172,719

 

Operating lease right-of-use assets

61,478

 

67,674

 

Other long-term assets

77,059

 

72,643

 

Total assets

$

1,825,966

 

$

1,884,488

 

 

 

 

Liabilities and Stockholders' Equity

 

 

Accounts payable and accrued liabilities

$

54,686

 

$

51,124

 

Accrued compensation

58,201

 

87,068

 

Deferred revenue - current

128,740

 

132,151

 

Operating lease liabilities - current

14,751

 

15,801

 

Other taxes payable

35,836

 

48,129

 

Debt - current

5,000

 

5,000

 

Other current liabilities

42,221

 

42,578

 

Total current liabilities

339,435

 

381,851

 

Deferred income taxes

25,050

 

25,288

 

Liability for uncertain tax positions

10,933

 

10,868

 

Income tax payable - non-current

61,622

 

61,623

 

Deferred revenue - non-current

35,065

 

36,335

 

Operating lease liabilities - non-current

31,644

 

35,854

 

Debt - non-current

90,991

 

92,036

 

Other long-term liabilities

9,717

 

15,762

 

Total liabilities

$

604,457

 

$

659,617

 

 

 

 

Stockholders' equity:

 

 

Preferred stock

$

 

$

 

Common stock

1,316

 

1,312

 

Additional paid-in capital

1,059,018

 

1,033,284

 

Retained earnings

180,063

 

211,101

 

Accumulated other comprehensive loss

(18,888)

 

(20,826)

 

Total stockholders' equity

1,221,509

 

1,224,871

 

Total liabilities and stockholders' equity

$

1,825,966

 

$

1,884,488

 

National Instruments

Condensed Consolidated Statements of Income

(in thousands, except per share data, unaudited)

 

 

 

 

Three Months Ended

 

March 31,

 

2021

2020

Net sales:

 

 

Product

$

295,092

 

$

273,978

 

Software maintenance

40,090

 

35,403

 

Total net sales

335,182

 

309,381

 

 

 

 

Cost of sales:

 

 

Product

91,657

 

82,071

 

Software maintenance

3,757

 

1,690

 

Total cost of sales

95,414

 

83,761

 

 

 

 

Gross profit

239,768

 

225,620

 

 

 

 

Operating expenses:

 

 

Sales and marketing

116,783

 

115,746

 

Research and development

80,086

 

71,621

 

General and administrative

33,358

 

26,180

 

Total operating expenses

230,227

 

213,547

 

Gain on sale of business/assets

 

159,753

 

Operating income

9,541

 

171,826

 

 

 

 

Other (expense) income:

(5,070)

 

560

 

 

 

 

Income before income taxes

4,471

 

172,386

 

 

 

 

(Benefit) provision for income taxes

(24)

 

39,731

 

 

 

 

Net income

$

4,495

 

$

132,655

 

 

 

 

Basic earnings per share

$

0.03

 

$

1.02

 

Diluted earnings per share

$

0.03

 

$

1.01

 

 

 

 

Weighted average shares outstanding -

 

 

Basic

131,483

 

130,613

 

Diluted

132,717

 

131,357

 

 

 

 

Dividends declared per share

$

0.27

 

$

0.26

 

National Instruments

Condensed Consolidated Statements of Cash Flows

(in thousands, unaudited)

 

Three Months Ended

 

March 31,

 

2021

 

2020

Cash flow from operating activities:

 

 

Net income

$

4,495

 

$

132,655

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

Disposal gain on sale of business/assets

 

(159,753)

 

Depreciation and amortization

23,872

 

19,265

 

Stock-based compensation

17,189

 

12,104

 

Loss from equity-method investees

4,173

 

1,025

 

Deferred income taxes

(3,746)

 

(1,599)

 

Net change in operating assets and liabilities

(16,142)

 

39,923

 

Net cash provided by operating activities

29,841

 

43,620

 

 

 

 

Cash flow from investing activities:

 

 

Capital expenditures

(8,488)

 

(12,816)

 

Proceeds from sale of business/assets

 

158,973

 

Capitalization of internally developed software

(226)

 

(1,915)

 

Additions to other intangibles

(1,018)

 

(112)

 

Acquisitions of equity-method investments

(11,539)

 

 

Purchases of short-term investments

 

(206,331)

 

Sales and maturities of short-term investments

27,664

 

111,827

 

Net cash provided by investing activities

6,393

 

49,626

 

 

 

 

Cash flow from financing activities:

 

 

Payments on term loan

(1,250)

 

 

Proceeds from issuance of common stock

8,565

 

8,991

 

Repurchase of common stock

 

(6,526)

 

Dividends paid

(35,533)

 

(33,997)

 

Net cash used by financing activities

(28,218)

 

(31,532)

 

 

 

 

Impact of changes in exchange rates on cash

(1,536)

 

(1,889)

 

 

 

 

Net change in cash and cash equivalents

6,480

 

59,825

 

Cash and cash equivalents at beginning of period

260,232

 

194,616

 

Cash and cash equivalents at end of period

$

266,712

 

$

254,441

 

The following tables provide details with respect to the amount of GAAP charges related to stock-based compensation, amortization of acquisition-related intangibles and fair value adjustments, acquisition-related transaction costs, capitalization and amortization of internally developed software costs, disposal gains on sale of business, impairment losses on equity-method investments and restructuring charges that were recorded in the line items indicated below (unaudited) (in thousands):

 

Three Months Ended

 

March 31,

 

2021

 

2020

Stock-based compensation

 

 

Cost of sales

$

1,113

 

$

804

 

Sales and marketing

5,696

 

5,175

 

Research and development

5,714

 

3,520

 

General and administrative

4,666

 

2,603

 

Provision for income taxes

(3,324)

 

(1,502)

 

Total

$

13,865

 

$

10,600

 

 

 

 

Amortization of acquisition-related intangibles and fair value adjustments

 

 

Net sales

$

813

 

$

 

Cost of sales

4,272

 

746

 

Sales and marketing

2,171

 

486

 

Research and development

 

28

 

Other (expense) income

394

 

124

 

Provision for income taxes

(975)

 

(157)

 

Total

$

6,675

 

$

1,227

 

 

 

 

Acquisition-related transaction and integration costs, restructuring charges and other(1)

 

 

Cost of sales

$

75

 

$

20

 

Sales and marketing

4,648

 

6,373

 

Research and development

488

 

4,669

 

General and administrative

5,666

 

(1,014)

 

Gain on sale of business/assets(1)

 

(159,753)

 

Other (expense) income(2)

3,725

 

128

 

Provision for income taxes

(2,883)

 

34,754

 

Total

$

11,719

 

$

(114,823)

 

(1): During the first quarter of 2020, the company recognized a gain of approximately $160 million related to the divestiture of AWR, presented within "Gain on sale of business/assets".

(2): During the first quarter of 2021, we recognized a $3.5 million impairment loss related to one of our equity-method investments, presented within "Other (expense) income"

 

 

 

(Capitalization) and amortization of internally developed software costs

 

 

Cost of sales

$

6,874

 

$

7,082

 

Research and development

(226)

 

(1,915)

 

Provision for income taxes

(1,396)

 

(1,085)

 

Total

$

5,252

$

4,082

National Instruments

Reconciliation of GAAP to Non-GAAP Measures

(in thousands, unaudited)

 

Three Months Ended

 

March 31,

 

2021

 

2020

Reconciliation of Net Sales to Non-GAAP Net Sales

Net sales, as reported

$

335,182

 

$

309,381

 

Impact of acquisition-related fair value adjustments

813

 

 

Non-GAAP net sales

$

335,995

 

$

309,381

 

 

 

 

Reconciliation of Gross Profit to Non-GAAP Gross Profit

Gross profit, as reported

$

239,768

 

$

225,620

 

Stock-based compensation

1,113

 

804

 

Amortization of acquisition-related intangibles and fair value adjustments

5,085

 

746

 

Acquisition transaction and integration costs. restructuring charges and other

75

 

20

 

Amortization of internally developed software costs

6,874

 

7,082

 

Non-GAAP gross profit

$

252,915

 

$

234,272

 

Non-GAAP gross margin

75.3

%

75.7

%

 

 

 

Reconciliation of Operating Expenses to Non-GAAP Operating Expenses

Operating expenses, as reported

$

230,227

 

$

213,547

 

Stock-based compensation

(16,076

)

(11,298

)

Amortization of acquisition-related intangibles and fair value adjustments

(2,171

)

(514

)

Acquisition transaction and integration costs. restructuring charges and other

(10,802

)

(10,028

)

Capitalization of internally developed software costs

226

 

1,915

 

Non-GAAP operating expenses

$

201,404

 

$

193,622

 

 

 

 

Reconciliation of Operating Income to Non-GAAP Operating Income

Operating income, as reported

$

9,541

 

$

171,826

 

Stock-based compensation

17,189

 

12,102

 

Amortization of acquisition-related intangibles and fair value adjustments

7,256

 

1,260

 

Acquisition transaction and integration costs. restructuring charges and other

10,877

 

10,048

 

Net amortization of internally developed software costs

6,648

 

5,167

 

Gain on sale of business/assets

 

(159,753

)

Non-GAAP operating income

$

51,511

 

$

40,650

 

Non-GAAP operating margin

15.3

%

13.1

%

 

 

 

Reconciliation of Provision for income taxes to Non-GAAP Provision for income taxes

Provision for income taxes, as reported(1)

$

(24

)

$

39,731

 

Stock-based compensation

3,324

 

1,502

 

Amortization of acquisition-related intangibles and fair value adjustments

975

 

157

 

Acquisition transaction and integration costs. restructuring charges and other

2,883

 

1,615

 

Net amortization of internally developed software costs

1,396

 

1,085

 

Gain on sale of business/assets

 

(36,369

)

Non-GAAP provision for income taxes(1)

$

8,554

 

$

7,721

 

(1): The income tax effect related to each non-GAAP item is calculated based on the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment, and considers the current and deferred tax impact of those adjustments.

Reconciliation of GAAP Net Income and Diluted EPS to Non-GAAP Net Income and Non-GAAP Diluted EPS

(in thousands, except per share data, unaudited)

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

 

 

2021

 

2020

Net income, as reported

$

4,495

 

$

132,655

 

Adjustments to reconcile net income to non-GAAP net income:

 

 

Stock-based compensation

17,189

 

12,102

 

Amortization of acquisition-related intangibles and fair value adjustments

7,650

 

1,384

 

Acquisition transaction and integration costs. restructuring charges and other

14,602

 

10,176

 

Net amortization of internally developed software costs

6,648

 

5,167

 

Gain on sale of business/assets

 

(159,753)

 

Income tax effects and adjustments(1)

(8,578)

 

32,010

 

Non-GAAP net income

$

42,006

 

$

33,741

 

Non-GAAP net margin

12.5

%

10.9

%

 

 

 

Diluted EPS, as reported

$

0.03

 

$

1.01

 

Adjustment to reconcile diluted EPS to non-GAAP diluted EPS

 

 

Impact of stock-based compensation

0.13

 

0.09

 

Impact of amortization of acquisition-related intangibles and fair value adjustments

0.06

 

0.01

 

Impact of acquisition transaction and integration costs, restructuring charges and other

0.11

 

0.08

 

Impact of amortization of internally developed software costs

0.05

 

0.04

 

Impact of gain on sale of business/assets

 

(1.22)

 

Income tax effects and adjustments(1)

(0.06)

 

0.25

 

Non-GAAP diluted EPS

$

0.32

 

$

0.26

 

(1): The income tax effect related to each non-GAAP item is calculated based on the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment, and considers the current and deferred tax impact of those adjustments.

 

 

 

Weighted average shares outstanding -

 

 

Basic

131,483

 

130,613

 

Diluted

132,717

 

131,357

 

National Instruments

Reconciliation of Net Income to EBITDA

(in thousands, unaudited)

 

 

 

 

Three Months Ended

 

March 31,

 

2021

 

2020

Net income, as reported

$

4,495

 

$

132,655

 

Adjustments to reconcile net income to EBITDA:

 

 

Interest expense (income), net

543

 

(2,223)

 

Tax (benefit) expense

(24)

 

39,731

 

Depreciation and amortization

23,872

 

19,265

 

EBITDA

$

28,886

 

$

189,428

 

Weighted average shares outstanding - Diluted

132,717

 

131,357

 

 

 

 

Reconciliation of GAAP to Non-GAAP Diluted EPS Guidance

(unaudited)

 

 

Three Months Ended

 

 

June 30, 2021

 

 

 

 

 

 

 

Low

 

High

GAAP Diluted EPS, guidance

$

(0.02

)

$

0.12

 

Adjustment to reconcile diluted EPS to non-GAAP diluted EPS:

 

 

Stock-based compensation

0.15

 

0.15

 

Amortization of acquisition-related intangibles and fair value adjustments

0.06

 

0.06

 

Acquisition transaction and integration costs, restructuring charges and other

0.04

 

0.04

 

Net amortization of internally developed software costs

0.05

 

0.05

 

Income tax effects and adjustments(1)

(0.07

)

(0.07

)

Non-GAAP Diluted EPS, guidance

$

0.21

 

$

0.35

 

(1): The income tax effect related to each non-GAAP item is calculated based on the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment, and considers the current and deferred tax impact of those adjustments.

Reconciliation of GAAP Net Sales to Non-GAAP Net Sales, Guidance

(unaudited)

 

Three Months Ended

 

 

 

June 30,

 

 

 

2021

2020

 

 

 

(midpoint)

 

 

Percent Inc(Dec)

GAAP Net sales, guidance

$

319,250

 

$

301,329

 

6%

Impact of purchase accounting fair value adjustments

750

 

 

 

Non-GAAP Net sales, guidance

$

320,000

 

$

301,329

 

6%

 

Marissa Vidaurri
Investor Relations
(512) 683-5215

Source: National Instruments

Contact Investor Relations

Marissa Vidaurri, Head of Investor Relations

marissa.vidaurri@ni.com or 512-683-5215

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