Trimble Reports First Quarter 2014 Results

 

GAAP TO NON-GAAP RECONCILIATION


(Dollars in thousands, except per share data)


(Unaudited)


















First Quarter of







2014


2013







Dollar

% of


Dollar

% of







Amount

Revenue


Amount

Revenue


GROSS MARGIN:










GAAP gross margin:



$ 326,892

54.1%


$ 286,914

51.6%




Restructuring

( A )


47

0.0%


55

0.0%




Amortization of purchased intangible assets

( B )


20,888

3.5%


19,681

3.6%




Stock-based compensation

( C )


747

0.1%


600

0.1%




Amortization of acquisition-related inventory step-up

( D )


51

0.0%


603

0.1%



Non-GAAP gross margin: 



$ 348,625

57.7%


$ 307,853

55.4%













OPERATING EXPENSES:










GAAP operating expenses:



$ 251,181

41.5%


$ 230,457

41.4%




Restructuring

( A )


(337)

-0.1%


(1,605)

-0.3%




Amortization of purchased intangible assets

( B )


(19,681)

-3.3%


(19,651)

-3.5%




Stock-based compensation

( C )


(9,365)

-1.5%


(8,218)

-1.5%




Acquisition / divestiture items

( E )


(1,396)

-0.2%


(3,418)

-0.6%



Non-GAAP operating expenses:



$ 220,402

36.4%


$ 197,565

35.5%













OPERATING INCOME:










GAAP operating income:



$  75,711

12.5%


$  56,457

10.2%




Restructuring

( A )


384

0.1%


1,660

0.3%




Amortization of purchased intangible assets

( B )


40,569

6.7%


39,332

7.0%




Stock-based compensation

( C )


10,112

1.7%


8,818

1.6%




Amortization of acquisition-related inventory step-up

( D )


51

0.0%


603

0.1%




Acquisition / divestiture items

( E )


1,396

0.2%


3,418

0.6%



Non-GAAP operating income: 



$ 128,223

21.2%


$ 110,288

19.8%













NON-OPERATING INCOME (LOSS), NET:










GAAP non-operating income (loss), net:



$  12,764



$   (2,088)





Acquisition / divestiture items

( E )


1,693



(401)





Gain on an equity sale

( F )


(15,091)



-




Non-GAAP non-operating loss, net: 



$      (634)



$   (2,489)




















GAAP and 



GAAP and 








Non-GAAP



Non-GAAP








Tax Rate %

( I )


Tax Rate %

( I )

INCOME TAX PROVISION:










GAAP income tax provision:



$  20,350

23%


$    5,437

10%




Non-GAAP items tax effected

( G )


11,004



5,343





Tax on gain on an equity sale

( H )


(5,836)



-




Non-GAAP income tax provision: 



$  25,518

20%


$  10,780

10%













NET INCOME:  










GAAP net income attributable to Trimble Navigation Ltd.



$  68,624



$  49,808





Restructuring

( A )


384



1,660





Amortization of purchased intangible assets

( B )


40,569



39,332





Stock-based compensation

( C )


10,112



8,818





Amortization of acquisition-related inventory step-up

( D )


51



603





Acquisition / divestiture items

( E )


3,089



3,017





Gain on an equity sale

( F )


(15,091)



-





Non-GAAP tax adjustments

( G ), ( H )


(5,168)



(5,343)




Non-GAAP net income attributable to Trimble Navigation Ltd.



$ 102,570



$  97,895














DILUTED NET INCOME PER SHARE:










GAAP diluted net income per share attributable to Trimble Navigation Ltd.



$      0.26



$      0.19





Restructuring

( A )


-



0.01





Amortization of purchased intangible assets

( B )


0.16



0.15





Stock-based compensation

( C )


0.04



0.04





Amortization of acquisition-related inventory step-up

( D )


-



-





Acquisition / divestiture items

( E )


0.01



0.01





Gain on an equity sale

( F )


(0.06)



-





Non-GAAP tax adjustments

( G ), ( H )


(0.02)



(0.02)




Non-GAAP diluted net income per share attributable to Trimble Navigation Ltd.



$      0.39



$      0.38














OPERATING LEVERAGE:










Increase in non-GAAP operating income



$  17,935



$    8,554




Increase in revenue



$  48,610



$  53,844




Operating leverage (increase in non-GAAP operating  income as a % of increase in revenue)



 

36.9%



15.9%















« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »
Featured Video
Jobs
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Senior Principal Software Engineer for Autodesk at San Francisco, California
Principal Engineer for Autodesk at San Francisco, California
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Equipment Engineer, Raxium for Google at Fremont, California
Upcoming Events
Digital Twins 2024 at the Gaylord National Resort & Convention Center in, MD. National Harbor MD - Dec 9 - 11, 2024
Commercial UAV Expo 2025 at Amsterdam Netherlands - Apr 8 - 10, 2025
Commercial UAV Expo 2025 at RAI Amsterdam Amsterdam Netherlands - Apr 8 - 11, 2025
BI2025 - 13th Annual Building Innovation Conference at Ritz-Carlton Tysons Corner McLean VA - May 19 - 21, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise