Trimble’s Q4 GAAP net income down while revenues up from

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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

Tags: earnings, geospatial, GIS, navigation, Q4, Trimble

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