Trimble Reports Fourth Quarter and Full Year 2016 Results

The specific non-GAAP measures, which we use along with a reconciliation to the nearest comparable GAAP measures and the explanation for why these non-GAAP measures provide useful information to investors regarding our financial condition and results of operations and why management chose to exclude selected items can be found at the end of this release. The method we use to produce non-GAAP results is not computed according to GAAP and may differ from the methods used by other companies. Our non-GAAP results are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of our non-GAAP financial measures to the comparable GAAP results, which is attached to this earnings release. Additional financial information about our use of non-GAAP results can be found on the investor relations page of our Web site at:  http://investor.trimble.com.

About Trimble

Trimble is transforming the way the world works by delivering products and services that connect the physical and digital worlds. Core technologies in positioning, modeling, connectivity and data analytics enable customers to improve productivity, quality, safety and sustainability. From purpose built products to enterprise lifecycle solutions, Trimble software, hardware and services are transforming a broad range of industries such as agriculture, construction, geospatial and transportation and logistics. For more information about Trimble (NASDAQ: TRMB), 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 potential for growth and margin expansion in 2017, the impact of acquisitions, the ability to deliver revenue, earnings per share and other financial projections that Trimble has guided for the first quarter of 2017, including the expected tax rate, anticipated impact of stock-based compensation expense, amortization of intangibles related to previous acquisitions, anticipated acquisition costs, restructuring charges, and the anticipated number of diluted shares outstanding. 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 could be negatively impacted by weakening in the macro economic environment, foreign exchange fluctuations, or the imposition of barriers to international trade. 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, further worsening in the geospatial market, critical part supply chain shortages, and possible write-offs of goodwill. 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 millions, except per share data)

(Unaudited)














Fourth Quarter of


Fiscal Years














2016


2015


2016


2015











Revenue:










Product

$  376.5


$  365.3


$  1,562.0


$  1,533.5



Service

113.3


109.4


430.2


419.9



Subscription

95.7


85.0


370.0


337.0

Total revenue

585.5


559.7


2,362.2


2,290.4











Cost of sales:










Product

184.8


177.1


760.8


731.1



Service

43.6


41.2


169.9


164.2



Subscription

25.6


24.5


104.9


100.3



Amortization of purchased intangible assets

18.7


23.8


88.6


92.6

Total cost of sales

272.7


266.6


1,124.2


1,088.2











Gross margin

312.8


293.1


1,238.0


1,202.2

Gross margin (%)

53.4 %


52.4 %


52.4 %


52.5 %











Operating expense:









Research and development

83.0


85.4


349.6


336.7


Sales and marketing

94.9


92.8


377.6


374.6


General and administrative

62.9


63.2


256.0


255.3


Restructuring charges

1.8


2.4


11.6


11.4


Amortization of purchased intangible assets

14.9


16.4


62.2


69.8



Total operating expense

257.5


260.2


1,057.0


1,047.8





















Operating income

55.3


32.9


181.0


154.4











Non-operating income (expense), net:









Interest expense, net

(6.1)


(6.5)


(25.9)


(25.6)


Foreign currency transaction gain (loss), net

(0.3)


(1.0)


(1.9)


0.2


Income from equity method investments, net

3.7


3.8


17.6


17.9


Other income (expense), net

4.2


(0.9)


5.9


4.9



Total non-operating income (expense), net

1.5


(4.6)


(4.3)


(2.6)











Income before taxes

56.8


28.3


176.7


151.8











Income tax provision

19.1


4.4


44.5


31.1

Net income

37.7


23.9


132.2


120.7


Less: Net loss attributable to noncontrolling interests


(0.1)


(0.2)


(0.4)

Net income attributable to Trimble Inc.

$    37.7


$    24.0


$     132.4


$     121.1











Earnings per share attributable to Trimble Inc.









Basic

$    0.15


$    0.10


$       0.53


$       0.47


Diluted

$    0.15


$    0.09


$       0.52


$       0.47











Shares used in calculating earnings per share:









Basic

250.7


250.5


250.5


255.8


Diluted

254.4


252.9


253.9


258.5


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »
Featured Video
Editorial
Jobs
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Equipment Engineer, Raxium for Google at Fremont, California
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Upcoming Events
FABTECH Orlando 2024 at Orange County Convention Center Orlando FL - Oct 15 - 17, 2024
TIMTOS 2025 at Nangang Exhibition Center Hall 1 & 2 (TaiNEX 1 & 2) TWTC Hall Taipei Taiwan - Mar 3 - 8, 2025
Automate 2025 at Detroit, Michigan, USA MI - May 12 - 15, 2025



© 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 GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise