Trimble: 2Q Earnings Snapshot
SUNNYVALE, Calif. (AP) _ Trimble Navigation Ltd. (TRMB) on Wednesday reported second-quarter earnings of $64.1 million.
The Sunnyvale, California-based company said it had profit of 25 cents per share. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The GPS manufacturer posted revenue of $785.5 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $772.1 million.
For the current quarter ending in October, Trimble expects its per-share earnings to range from 43 cents to 47 cents.
The company expects full-year earnings in the range of $1.81 to $1.89 per share.
Trimble shares have dropped 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $35.24, a decline of 6 percent in the last 12 months.