The 10-second takeaway
For the quarter ended June 30 (Q2), Trimble Navigation met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share grew. GAAP earnings per share was unchanged.
Gross margins grew, operating margins grew, net margins dropped.
Trimble Navigation recorded revenue of $576.3 million. The 11 analysts polled by S&P Capital IQ anticipated revenue of $574.2 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $517.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.38. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.37 per share. Non-GAAP EPS of $0.38 for Q2 were 5.6% higher than the prior-year quarter's $0.36 per share. GAAP EPS of $0.21 were the same as the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 55.9%, 160 basis points better than the prior-year quarter. Operating margin was 11.8%, 20 basis points better than the prior-year quarter. Net margin was 9.5%, 90 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $565.5 million. On the bottom line, the average EPS estimate is $0.37.
Next year's average estimate for revenue is $2.27 billion. The average EPS estimate is $1.47.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 406 members out of 426 rating the stock outperform, and 20 members rating it underperform. Among 99 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 92 give Trimble Navigation a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Trimble Navigation is outperform, with an average price target of $33.08.
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