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Susan Smith
Susan Smith
Susan Smith has worked as an editor and writer in the technology industry for over 16 years. As an editor she has been responsible for the launch of a number of technology trade publications, both in print and online. Currently, Susan is the Editor of GISCafe and AECCafe, as well as those sites’ … More »

Trimble’s Q4 GAAP net income down while revenues up from same time last year

 
February 2nd, 2012 by Susan Smith

Trimble Navigation Limited (TRMB) reported that its fourth-quarter GAAP net income attributable to the company was $29.40, down from $36.56 million in the same quarter last year. Earnings per share in the fourth quarter of 2011 were $0.23 as compared to diluted earnings per share of $0.29 in the fourth quarter of 2010.

When looking at year-over-year GAAP net income and earnings per share it should be noted that in the fourth quarter of 2010 there was a tax benefit of 61 percent versus a tax rate of 8 percent in the fourth quarter of 2011. The fourth quarter 2010 tax benefit was primarily due to a non-recurring income tax benefit for a valuation allowance release of $7.6 million and a catch up on research and development tax credits due to legislation passed in the fourth quarter of 2010, the company said.

Non-GAAP net income of $67.8 million for the fourth quarter of 2011 was up 19 percent as compared to the fourth quarter of 2010. Non-GAAP earnings per share in the fourth quarter of 2011 were $0.54 as compared to non-GAAP earnings per share of $0.46 in the fourth quarter of 2010.

Revenue was $435.17 million, up from $323.35 million in the year ago quarter.

– RTTNews.com

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