Trimble Inc. today announced financial results for the second quarter of 2017.

 

 

GAAP TO NON-GAAP RECONCILIATION

(Dollars in millions, except per share data)

(Unaudited)

                                 
         

Second Quarter of

 

First Two Quarters of

 
         

2017

 

2016

 

2017

 

2016

 
         

Dollar

% of

 

Dollar

% of

 

Dollar

% of

 

Dollar

% of

 
         

Amount

Revenue

 

Amount

Revenue

 

Amount

Revenue

 

Amount

Revenue

 

GROSS MARGIN:

                           
 

GAAP gross margin:

   

$  346.5

52.3 %

 

$  315.6

51.8 %

 

$    673.1

52.8 %

 

$    616.2

51.7 %

 
   

Restructuring charges

( A )

 

0.5

0.1 %

 

0.4

0.1 %

 

1.0

0.1 %

 

0.7

0.1 %

 
   

Amortization of purchased intangible assets

( B )

 

20.5

3.1 %

 

24.0

3.9 %

 

39.5

3.1 %

 

48.1

4.0 %

 
   

Stock-based compensation

( C )

 

0.9

0.1 %

 

0.9

0.1 %

 

1.7

0.1 %

 

1.9

0.1 %

 
   

Amortization of acquisition-related inventory step-up

( D )

 

0.5

0.1 %

 

—%

 

0.6

—%

 

—%

 
 

Non-GAAP gross margin:

   

$  368.9

55.7 %

 

$  340.9

55.9 %

 

$    715.9

56.1 %

 

$    666.9

55.9 %

 
                                 

OPERATING EXPENSES:

                           
 

GAAP operating expenses:

   

$  283.9

42.8 %

 

$  275.1

45.1 %

 

$    553.9

43.5 %

 

$    545.8

45.8 %

 
   

Restructuring charges

( A )

 

(2.3)

(0.3)%

 

(4.5)

(0.7)%

 

(5.2)

(0.4)%

 

(6.3)

(0.5)%

 
   

Amortization of purchased intangible assets

( B )

 

(15.3)

(2.3)%

 

(15.6)

(2.6)%

 

(29.6)

(2.3)%

 

(31.8)

(2.7)%

 
   

Stock-based compensation

( C )

 

(14.3)

(2.2)%

 

(12.1)

(2.0)%

 

(27.2)

(2.2)%

 

(24.8)

(2.1)%

 
   

Acquisition / divestiture items

( E )

 

(4.3)

(0.6)%

 

(0.9)

(0.1)%

 

(6.4)

(0.6)%

 

(2.5)

(0.2)%

 
   

Executive transition costs

( F )

 

—%

 

(0.1)

—%

 

—%

 

(1.0)

(0.1)%

 
 

Non-GAAP operating expenses:

   

$  247.7

37.4 %

 

$  241.9

39.7 %

 

$    485.5

38.0 %

 

$    479.4

40.2 %

 
                                 

OPERATING INCOME:

                           
 

GAAP operating income:

   

$    62.6

9.5 %

 

$    40.5

6.7 %

 

$    119.2

9.3 %

 

$      70.4

5.9 %

 
   

Restructuring charges

( A )

 

2.8

0.4 %

 

4.9

0.8 %

 

6.2

0.5 %

 

7.0

0.6 %

 
   

Amortization of purchased intangible assets

( B )

 

35.8

5.4 %

 

39.6

6.5 %

 

69.1

5.4 %

 

79.9

6.7 %

 
   

Stock-based compensation

( C )

 

15.2

2.3 %

 

13.0

2.1 %

 

28.9

2.3 %

 

26.7

2.2 %

 
   

Amortization of acquisition-related inventory step-up

( D )

 

0.5

0.1 %

 

—%

 

0.6

—%

 

—%

 
   

Acquisition / divestiture items

( E )

 

4.3

0.6 %

 

0.9

0.1 %

 

6.4

0.6 %

 

2.5

0.2 %

 
   

Executive transition costs

( F )

 

—%

 

0.1

—%

 

—%

 

1.0

0.1 %

 
 

Non-GAAP operating income:

   

$  121.2

18.3 %

 

$    99.0

16.2 %

 

$    230.4

18.1 %

 

$    187.5

15.7 %

 
                                 

NON-OPERATING INCOME (EXPENSE), NET:

                           
 

GAAP non-operating income (expense), net:

   

$      5.0

   

$     (2.2)

   

$      14.0

   

$       (2.7)

   
   

Acquisition / divestiture items

( E )

 

(0.8)

   

0.4

   

(8.9)

   

(2.7)

   
 

Non-GAAP non-operating income (expense), net:

   

$      4.2

   

$     (1.8)

   

$        5.1

   

$       (5.4)

   
                                 
           

GAAP and

   

GAAP and

   

GAAP and

   

GAAP and

 
           

Non-GAAP

   

Non-GAAP

   

Non-GAAP

   

Non-GAAP

 
           

Tax Rate %

( I )

 

Tax Rate %

( I )

 

Tax Rate %

( I )

 

Tax Rate %

( I )

INCOME TAX PROVISION:

                           
 

GAAP income tax provision:

   

$    17.7

26 %

 

$      2.7

7 %

 

$      32.8

25 %

 

$      12.4

18 %

 
   

Non-GAAP items tax effected

( G )

 

15.0

   

4.1

   

25.2

   

21.0

   
   

Difference in GAAP and Non-GAAP tax rate

( H )

 

(3.8)

   

16.4

   

(3.8)

   

10.3

   
 

Non-GAAP income tax provision:

   

$    28.9

23 %

 

$    23.2

24 %

 

$      54.2

23 %

 

$      43.7

24 %

 
                                 

NET INCOME:

                           
 

GAAP net income attributable to Trimble Inc.

   

$    49.9

   

$    35.7

   

$    100.4

   

$      55.5

   
   

Restructuring charges

( A )

 

2.8

   

4.9

   

6.2

   

7.0

   
   

Amortization of purchased intangible assets

( B )

 

35.8

   

39.6

   

69.1

   

79.9

   
   

Stock-based compensation

( C )

 

15.2

   

13.0

   

28.9

   

26.7

   
   

Amortization of acquisition-related inventory step-up

( D )

 

0.5

   

   

0.6

   

   
   

Acquisition / divestiture items

( E )

 

3.5

   

1.3

   

(2.5)

   

(0.2)

   
   

Executive transition costs

( F )

 

   

0.1

   

   

1.0

   
   

Non-GAAP tax adjustments

( G ) + ( H )

 

(11.2)

   

(20.5)

   

(21.4)

   

(31.3)

   
 

Non-GAAP net income attributable to Trimble Inc.

   

$    96.5

   

$    74.1

   

$    181.3

   

$    138.6

   
                                 

DILUTED NET INCOME PER SHARE:

                           
 

GAAP diluted net income per share attributable to Trimble Inc.

   

$    0.19

   

$    0.14

   

$      0.39

   

$      0.22

   
   

Restructuring charges

( A )

 

0.01

   

0.02

   

0.03

   

0.03

   
   

Amortization of purchased intangible assets

( B )

 

0.14

   

0.15

   

0.27

   

0.31

   
   

Stock-based compensation

( C )

 

0.06

   

0.05

   

0.11

   

0.11

   
   

Amortization of acquisition-related inventory step-up

( D )

 

   

   

   

   
   

Acquisition / divestiture items

( E )

 

0.01

   

0.01

   

(0.01)

   

   
   

Executive transition costs

( F )

 

   

   

   

   
   

Non-GAAP tax adjustments

( G ) + ( H )

 

(0.03)

   

(0.08)

   

(0.08)

   

(0.12)

   
 

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

   

$    0.38

   

$    0.29

   

$      0.71

   

$      0.55

   

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »
Featured Video
Jobs
Senior Principal Software Engineer for Autodesk at San Francisco, California
Principal Engineer for Autodesk at San Francisco, California
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Mechanical Engineer 3 for Lam Research at Fremont, California
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
GIS Specialist for Washington State Department of Natural Resources at Olympia, Washington
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 RAI Amsterdam Amsterdam Netherlands - Apr 8 - 11, 2025
Commercial UAV Expo 2025 at Amsterdam Netherlands - Apr 8 - 10, 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