Trimble Reports First Quarter 2016 Results

Safe Harbor

Certain statements made in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include expectations for future financial market and economic conditions, the impact of acquisitions, the ability to deliver revenue, earnings per share and other financial projections that Trimble has guided for the second quarter and full year, including the expected tax rate, anticipated impact of stock-based compensation expense, amortization of intangibles related to previous acquisitions, anticipated acquisition costs, restructuring charges, and the anticipated number of diluted shares outstanding. These forward-looking statements are subject to change, and actual results may materially differ from those set forth in this press release due to certain risks and uncertainties. The Company's results may be adversely affected if the Company is unable to market, manufacture and ship new products, obtain new customers, or integrate new acquisitions. The Company's results would also be negatively impacted by weakening in the macro environment or foreign exchange fluctuations. Any failure to achieve predicted results could negatively impact the Company's revenues, cash flow from operations, and other financial results. The Company's financial results will also depend on a number of other factors and risks detailed from time to time in reports filed with the SEC, including its quarterly reports on Form 10-Q and its annual report on Form 10- K, such as changes in economic conditions, further worsening in the agricultural market, critical part supply chain shortages, possible write-offs of goodwill, and regulatory proceedings affecting GPS. Undue reliance should not be placed on any forward-looking statement contained herein, especially in light of greater uncertainty than normal in the economy in general. These statements reflect the Company's position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company's expectations or any change of events, conditions, or circumstances on which any such statement is based.

FTRMB

 

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In millions, except per share data)

(Unaudited)






First Quarter of






2016


2015





Revenues




        Product

$ 393.6


$ 400.6

        Service

101.6


100.9

        Subscription

87.8


81.1

Total revenues

583.0


582.6





Cost of sales




        Product

190.0


187.7

        Service

41.6


41.4

        Subscription

26.7


23.8

        Amortization of purchased intangible assets

24.1


22.5

Total cost of sales

282.4


275.4




-

Gross margin

300.6


307.2

Gross margin (%)

51.6%


52.7%





Operating expenses




    Research and development

87.7


87.2

    Sales and marketing

96.7


96.5

    General and administrative

68.3


64.7

    Restructuring charges

1.8


1.1

    Amortization of purchased intangible assets

16.2


18.2

       Total operating expenses

270.7


267.7









Operating income 

29.9


39.5





Non-operating income (expense), net




    Interest expense

(6.6)


(6.4)

    Foreign currency transaction gain (loss), net

(0.1)


1.1

    Income from equity method investments, net

2.9


3.0

    Other income, net

3.3


7.0

       Total non-operating income (expense), net

(0.5)


4.7





Income before taxes

29.4


44.2





Income tax provision

9.7


10.2

Net income

19.7


34.0

Less: Net income (loss) attributable to noncontrolling interests 

(0.1)


(0.1)

Net income attributable to Trimble Navigation Limited

$   19.8


$   34.1





Earnings per share attributable to Trimble Navigation Limited:




     Basic

$   0.08


$   0.13

     Diluted

$   0.08


$   0.13





Shares used in calculating earnings per share:




    Basic

251.0


259.4

    Diluted

254.0


262.4


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »
Featured Video
Jobs
Principal Engineer for Autodesk at San Francisco, California
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Senior Principal Software Engineer for Autodesk at San Francisco, California
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
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