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Trimble: 2Q Earnings Snapshot

July 31, 2019

SUNNYVALE, Calif. (AP) _ Trimble Navigation Ltd. (TRMB) on Wednesday reported second-quarter net income of $94.6 million.

On a per-share basis, the Sunnyvale, California-based company said it had profit of 37 cents. Earnings, adjusted for one-time gains and costs, were 53 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The GPS manufacturer posted revenue of $854.8 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $867.6 million.

For the current quarter ending in October, Trimble expects its per-share earnings to range from 45 cents to 49 cents.

The company said it expects revenue in the range of $789 million to $819 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $849.1 million.

Trimble expects full-year earnings in the range of $1.91 to $1.99 per share, with revenue ranging from $3.25 billion to $3.31 billion.

Trimble shares have climbed 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $42.26, a climb of 20% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TRMB at https://www.zacks.com/ap/TRMB

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