“From an orders perspective, as Lal indicated, the last quarter, which is our fourth quarter, down 16% in orders, we expect orders to remain down for the first half and turn positive in the second half.”

In context

“- and hybrid, yeah. Julian Mitchell: Got it. So the process and hybrid orders growth should stay fairly steady through 2024. Lal Karsanbhai: That is our expectation, yes sir. Julian Mitchell: Fantastic. Thanks for the help. Lal Karsanbhai: Thanks, Julian. Operator: The next question comes from Nigel Coe with Wolfe Research. Please go ahead. Nigel, your line is now live. Nigel Coe: Okay. The line is live, but I'm not, so sorry for that. So National Instruments, I think that the 4Q fiscal sales were down, I think, high single-digit, organic. Is that the right number? Is my math correct? And it looks like the guide implies flattish to maybe slightly down organic. Just wondering what the profile is on that and anything on orders there would be helpful. Ram Krishnan: Yeah. So, Ram here, Nigel. From an orders perspective, as Lal indicated, the last quarter, which is our fourth quarter, down 16% in orders, we expect orders to remain down for the first half and turn positive in the second half. And you are right, the $1.6 billion that we're guiding will translate to down 5% to 6% for the year from a sales perspective. And sales should turn positive in the fourth quarter. So we'll have down sales for the first three quarters and positive in the fourth quarter. Nigel Coe: Okay, great. I'm sorry I missed the order number. Thanks for clarifying that. And then on the backlog, backlog down from $6.9 billion to $6.6 billion QoverQ, maybe just clarify, I don't think that's unusual from a seasonal perspective. I think it's normal to see 4Q backlog consumption. Was there any FX revaluation impacts there? I just want to make sure that I understand the organic movement there. Mike Baughman: No, that's on a consistent GAAP basis. Nigel Coe: Okay, great. Thank you. Operator: The next question”