National Instruments Corporation (NASDAQ:NATI) Q1 2022 Earnings Conference Call April 28, 2022 5:00 PM ET
Company Participants
Marissa Vidaurri - Head, Investor Relations
Eric Starkloff - President and Chief Executive Officer
Karen Rapp - Chief Financial Officer
Conference Call Participants
Meta Marshall - Morgan Stanley
Mark Delaney - Goldman Sachs
Rob Mason - Baird
William Kerwin - Morningstar
Angela Jin - JPMorgan
Operator
Good day and thank you for standing by. Welcome to the Q1 2022 NATI Earnings Conference Call. [Operator Instructions] I would now like to hand the conference over to your speaker today, Marissa Vidaurri, Head of Investor Relations, NI. Please go ahead.
Marissa Vidaurri
Good afternoon. Thank you for joining our Q1 2022 earnings call. I am joined today by Eric Starkloff, President and Chief Executive Officer and Karen Rapp, Chief Financial Officer. We will start with an update on our performance in the quarter before opening up for your questions.
Our discussion today will include forward-looking statements, including without limitation, those regarding revenue, earnings, gross margins, operating expenses, capital allocation, targets and future business outlook and guidance, including expected demand for our products, supply chain constraints, backlog, impact of the war in Europe, COVID-19 and related shutdowns in our software licensing model transition, successful integration of the acquisitions and future results of acquired companies, execution on our strategy and achievement of our financial targets.
We wish to caution you that such statements are just predictions and that actual events or results may differ materially and could be negatively impacted by numerous factors. We refer you to the documents that the company files regularly with the Securities and Exchange Commission, including the company’s annual report on Form 10-K filed on February 22, 2022. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in our forward-looking statements. We assume no duty to update any forward-looking statements to conform the statement to actual results or changes in our expectations.
A reconciliation of our non-GAAP financial measures disclosed in this call to the most directly comparable GAAP financial measures or related disclosures are contained in our press release and on ni.com/nati. You can find the press release and quarterly presentation to supplement today’s discussion on our website at ni.com/nati.
On March 31, we announced a definitive agreement to purchase the test systems business of Kratzer Automation AG, a European leader in providing holistic customer solutions for electric vehicles. We believe that this investment, along with others we have made in this space, will help accelerate our ability to serve customers in the high growth area of vehicle electrification. The acquisition is expected to add 2% revenue growth during calendar year 2022.