“And we do expect much like in our core discrete markets, orders to flatten out as we get into the second half of the year.”

In context

“ff Sprague with Vertical Research. Please go ahead. Jeff Sprague: Thank you. Good morning, everyone. Just a couple specific NATI questions if I could. Some noise with the bolt-ons. So could you just be clear for NATI revenues in 2024? And also, if you could provide any color on how their orders progressed in the fourth quarter? And finally, maybe a little bit of around how much of that synergy target happens in the first year. Lal Karsanbhai: Yeah. Hi, Jeff. Lal here. Good morning. So on the revenue, as Mike stated, $1.6 billion is the assumption. It's not in the underlying sales as we reported. Orders in the environment, as I expressed in my presentation, are still challenging in the business, exiting the quarter at down 16% NI which is very much aligned to the plan that we had in place. And we do expect much like in our core discrete markets, orders to flatten out as we get into the second half of the year. So feel very much that they're under in plan from an orders perspective, although still in a challenging environment. And then lastly on synergies. Look, we got off to a really good start, day one. The team's executing very, very well. We haven't given guidance on year one. What I did, I will say is that about half the synergies will be delivered in the first two years. Jeff Sprague: Right. And just as an unrelated question, maybe it's for Mike. But just thinking about the organic guide for 2024, you're exiting here at 4% price with 5% order growth, right? It feels like there's a little bit of room in those organic numbers. Maybe just share how much price is embedded in that 4% to 6% for 2024? Mike Baughman: Yeah. Jeff, the 2024 price assumption is 2%. Jeff Sprague: Great. Thank you. Oper”