Trimble Reports Second Quarter 2014 Results

About Trimble

Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location—including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978, Trimble is headquartered in Sunnyvale, Calif.

For more information visit: www.trimble.com.

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 third quarter and full year 2014, the expected tax rate, the anticipated impact of stock-based compensation expense, the amortization of intangibles related to previous acquisitions and the anticipated number of shares outstanding and interest costs. 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. 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, 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 thousands, except per share data)

(Unaudited)












Second Quarter of


First Two Quarters of












2014


2013


2014


2013










Revenues:









        Product


$ 468,995


$ 425,880


$ 911,564


$ 838,667

        Service


100,062


84,511


193,381


166,107

        Subscription


73,142


65,902


141,975


127,630

Total revenues


642,199


576,293


1,246,920


1,132,404










Cost of sales:









        Product


212,369


200,493


416,121


399,194

        Service


37,667


32,549


71,846


63,392

        Subscription


17,574


20,995


36,584


40,967

        Amortization of purchased intangible assets


20,018


19,855


40,906


39,536

Total cost of sales


287,628


273,892


565,457


543,089










Gross margin


354,571


302,401


681,463


589,315

Gross margin (%)


55.2%


52.5%


54.7%


52.0%










Operating expenses









    Research and development


81,807


76,555


158,183


150,163

    Sales and marketing


95,621


85,307


192,975


168,930

    General and administrative


61,364


52,760


118,797


104,730

    Restructuring


789


2,966


1,126


4,571

    Amortization of purchased intangible assets


17,856


19,908


37,537


39,559

       Total operating expenses


257,437


237,496


508,618


467,953



















Operating income 


97,134


64,905


172,845


121,362










Non-operating income (loss), net









    Interest expense, net


(3,164)


(4,255)


(6,847)


(9,326)

    Foreign currency transaction gain (loss), net


(454)


600


(609)


(969)

    Income from equity method investments, net


5,225


7,157


8,688


11,414

    Other income, net


27


284


13,166


579

       Total non-operating income, net


1,634


3,786


14,398


1,698










Income before taxes


98,768


68,691


187,243


123,060










Income tax provision


20,741


13,738


41,091


19,175

Net income


78,027


54,953


146,152


103,885

Less: Net gain (loss) attributable to noncontrolling interests 


193


372


(306)


(504)

Net income attributable to Trimble Navigation Ltd.


$   77,834


$   54,581


$ 146,458


$ 104,389










Earnings per share attributable to Trimble Navigation Ltd.









     Basic


$      0.30


$      0.21


$      0.56


$      0.41

     Diluted


$      0.29


$      0.21


$      0.55


$      0.40










Shares used in calculating earnings per share:









    Basic


261,075


256,186


260,432


255,683

    Diluted


265,957


260,533


265,370


260,416


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »
Featured Video
Jobs
Business Development Manager for Berntsen International, Inc. at Madison, Wisconsin
Mechanical Engineer 2 for Lam Research at Fremont, California
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Equipment Engineer, Raxium for Google at Fremont, California
Mechanical Engineer 3 for Lam Research at Fremont, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — 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 PolicyAdvertise