NEW ACCOUNTING STANDARDS ADOPTION IMPACT | ||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) | ||||||
(In millions, except per share data) | ||||||
(Unaudited) | ||||||
|
|
|
|
|
|
|
|
|
|
Q1'17 |
| ||
|
|
|
As Reported |
ASC 606 Adjustments |
As Adjusted |
|
|
|
|
|
|
|
|
Revenue: |
|
|
|
| ||
|
|
Product |
$ 405.4 |
$ 4.2 |
$ 409.6 |
|
|
|
Service |
106.8 |
(0.2) |
106.6 |
|
|
|
Subscription |
101.7 |
(7.3) |
94.4 |
|
Total revenue |
613.9 |
(3.3) |
610.6 |
| ||
|
|
|
|
|
|
|
Cost of sales: |
|
|
|
| ||
|
|
Product |
194.4 |
(1.0) |
193.4 |
|
|
|
Service |
47.1 |
(0.1) |
47.0 |
|
|
|
Subscription |
26.8 |
0.1 |
26.9 |
|
|
|
Amortization of purchased intangible assets |
19.0 |
- |
19.0 |
|
Total cost of sales |
287.3 |
(1.0) |
286.3 |
| ||
|
|
|
|
|
|
|
Gross margin |
326.6 |
(2.3) |
324.3 |
| ||
Gross margin (%) |
53.2 % |
|
53.1% |
| ||
|
|
|
|
|
|
|
Operating expense: |
|
|
|
| ||
|
Research and development |
88.7 |
- |
88.7 |
| |
|
Sales and marketing |
94.8 |
(0.4) |
94.4 |
| |
|
General and administrative |
69.3 |
- |
69.3 |
| |
|
Restructuring charges |
2.9 |
- |
2.9 |
| |
|
Amortization of purchased intangible assets |
14.3 |
- |
14.3 |
| |
|
|
Total operating expense |
270.0 |
(0.4) |
269.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income |
56.6 |
(1.9) |
54.7 |
| ||
|
|
|
|
|
|
|
Non-operating income (expense), net: |
|
|
|
| ||
|
Interest expense, net |
(6.1) |
- |
(6.1) |
| |
|
Foreign currency transaction gain, net |
1.4 |
- |
1.4 |
| |
|
Income from equity method investments, net |
4.2 |
- |
4.2 |
| |
|
Other income (loss), net |
9.5 |
- |
9.5 |
| |
|
|
Total non-operating income (expense), net |
9.0 |
- |
9.0 |
|
|
|
|
|
|
|
|
Income before taxes |
65.6 |
(1.9) |
63.7 |
| ||
|
|
|
|
|
|
|
Income tax provision |
15.1 |
(1.2) |
13.9 |
| ||
Net income (loss) |
50.5 |
(0.7) |
49.8 |
| ||
|
Net gain attributable to noncontrolling interests |
- |
- |
- |
| |
Net income (loss) attributable to Trimble Inc. |
$ 50.5 |
$ (0.7) |
$ 49.8 |
| ||
|
|
|
|
|
|
|
Net income (loss) per share attributable to Trimble Inc. |
|
|
|
| ||
|
Basic |
$ 0.20 |
$ - |
$ 0.20 |
| |
|
Diluted |
$ 0.20 |
$ (0.01) |
$ 0.19 |
| |
|
|
|
|
|
|
|
Shares used in calculating net income (loss) per share: |
|
|
|
| ||
|
Basic |
252.0 |
- |
252.0 |
| |
|
Diluted |
255.9 |
- |
255.9 |
|