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 »



Review Article Be the first to review this article
Harris

Airbus

Featured Video
Jobs
GIS Analyst II for Air Worldwide at Boston, MA
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
Senior Structural Engineer for Design Everest at San Francisco, CA
Upcoming Events
RoboUniverse San Diego at San Diego CA - Dec 14 - 15, 2016
DGI 2017 at QEII Centre London United Kingdom - Jan 23 - 25, 2017
Geospatial World Forum 2017 Hyderabad at Hyderabad International Convention Center P.O Bag 1101, Cyberabad Post Office Hyderabad Telangana India - Jan 23 - 25, 2017
GMP Compliance for Quality Control Laboratories 2016 at Andheri Kurla Road, Sahar Village, Andheri-Kurla Road, Mumbai, Maharashtra 40005 Mumbai, Maharashtra India - Jan 23 - 24, 2017
Trimble
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy