Trimble Reports Second Quarter 2019 Results

 

GAAP TO NON-GAAP RECONCILIATION

(Dollars in millions, except per share data)

(Unaudited)







Second Quarter of


First Two Quarters of






2019


2018


2019


2018






Dollar
Amount

% of
Revenue


Dollar
Amount

% of
Revenue


Dollar
Amount

% of
Revenue


Dollar
Amount

% of
Revenue

REVENUE:















GAAP revenue:



$

854.8




$

785.5




$

1,656.4




$

1,527.7





Acquired deferred revenue adjustment

(A)


1.0




3.8




3.9




6.7




Non-GAAP revenue:



$

855.8




$

789.3




$

1,660.3




$

1,534.4



















GROSS MARGIN:















GAAP gross margin:



$

460.6


53.9

%


$

422.7


53.8

%


$

898.9


54.3

%


$

818.9


53.6

%



Acquired deferred revenue adjustment

(A)


1.0




3.8




3.9




6.7





Restructuring charges

(B)





0.6




0.2




0.4





Amortization of purchased intangible assets

(C)


23.8




23.9




48.0




47.0





Stock-based compensation

(D)


1.4




1.1




2.7




2.2





Acquisition / divestiture items

(E)











2.0




Non-GAAP gross margin:



$

486.8


56.9

%


$

452.1


57.3

%


$

953.7


57.4

%


$

877.2


57.2

%

















OPERATING EXPENSES:















GAAP operating expenses:



$

350.9


41.1

%


$

333.2


42.4

%


$

702.9


42.4

%


$

665.2


43.5

%



Restructuring charges

(B)


(2.9)




(2.2)




(6.4)




(3.8)





Amortization of purchased intangible assets

(C)


(19.7)




(18.7)




(39.8)




(36.1)





Stock-based compensation

(D)


(15.8)




(15.8)




(30.8)




(32.1)





Acquisition / divestiture items

(E)


(2.0)




(8.1)




(3.1)




(22.1)





Amortization of acquired capitalized commissions

(F)


1.6




0.6




3.3




1.1




Non-GAAP operating expenses:



$

312.1


36.5

%


$

289.0


36.6

%


$

626.1


37.7

%


$

572.2


37.3

%

















OPERATING INCOME:















GAAP operating income:



$

109.7


12.8

%


$

89.5


11.4

%


$

196.0


11.8

%


$

153.7


10.1

%



Acquired deferred revenue adjustment

(A)


1.0




3.8




3.9




6.7





Restructuring charges

(B)


2.9




2.8




6.6




4.2





Amortization of purchased intangible assets

(C)


43.5




42.6




87.8




83.1





Stock-based compensation

(D)


17.2




16.9




33.5




34.3





Acquisition / divestiture items

(E)


2.0




8.1




3.1




24.1





Amortization of acquired capitalized commissions

(F)


(1.6)




(0.6)




(3.3)




(1.1)




Non-GAAP operating income:



$

174.7


20.4

%


$

163.1


20.7

%


$

327.6


19.7

%


$

305.0


19.9

%

















NON-OPERATING INCOME (EXPENSE), NET:












GAAP non-operating income (expense), net:



$

5.7




$

(10.3)




$

(5.4)




$

(7.8)





Acquisition / divestiture items

(E)


(13.1)




0.7




(12.8)




(2.1)





Debt issuance costs

(G)





6.7







6.7




Non-GAAP non-operating expense, net:



$

(7.4)




$

(2.9)




$

(18.2)




$

(3.2)

























GAAP and
Non-GAAP
Tax Rate %



GAAP and
Non-GAAP
Tax Rate %



GAAP and
Non-GAAP
Tax Rate %



GAAP and
Non-GAAP
Tax Rate %







(J)



(J)



(J)



(J)

INCOME TAX PROVISION:















GAAP income tax provision:



$

20.8


18

%


$

15.1


19

%


$

33.6


18

%


$

23.1


16

%



Non-GAAP items tax effected

(H)


9.3




15.4




20.7




24.4





Difference in GAAP and Non-GAAP tax rate

(I)


3.4







7.6




9.9




Non-GAAP income tax provision:



$

33.5


20

%


$

30.5


19

%


$

61.9


20

%


$

57.4


19

%

















NET INCOME:















GAAP net income attributable to Trimble Inc.:



$

94.6




$

64.1




$

156.9




$

122.6





Acquired deferred revenue adjustment

(A)


1.0




3.8




3.9




6.7





Restructuring charges

(B)


2.9




2.8




6.6




4.2





Amortization of purchased intangible assets

(C)


43.5




42.6




87.8




83.1





Stock-based compensation

(D)


17.2




16.9




33.5




34.3





Acquisition / divestiture items

(E)


(11.1)




8.8




(9.7)




22.0





Amortization of acquired capitalized commissions

(F)


(1.6)




(0.6)




(3.3)




(1.1)





Debt issuance costs

(G)





6.7







6.7





Non-GAAP tax adjustments

(H)+(I)


(12.7)




(15.4)




(28.3)




(34.3)




Non-GAAP net income attributable to Trimble Inc.:



$

133.8




$

129.7




$

247.4




$

244.2



















DILUTED NET INCOME PER SHARE:












GAAP diluted net income per share attributable to Trimble Inc.:



$

0.37




$

0.25




$

0.62




$

0.49





Acquired deferred revenue adjustment

(A)





0.01




0.01




0.03





Restructuring charges

(B)


0.01




0.01




0.03




0.02





Amortization of purchased intangible assets

(C)


0.17




0.17




0.34




0.33





Stock-based compensation

(D)


0.07




0.07




0.13




0.13





Acquisition / divestiture items

(E)


(0.04)




0.03




(0.04)




0.09





Amortization of acquired capitalized commissions

(F)








(0.01)








Debt issuance costs

(G)





0.03







0.02





Non-GAAP tax adjustments

(H)+(I)


(0.05)




(0.06)




(0.11)




(0.14)




Non-GAAP diluted net income per share attributable to Trimble Inc.:



$

0.53




$

0.51




$

0.97




$

0.97
























Third Quarter of 2019


Fiscal Year 2019












Low End

High End


Low End

High End







FORECASTED DILUTED NET INCOME PER SHARE:











Forecasted GAAP diluted net income per share attributable to Trimble Inc.:



$

0.24


$

0.28



$

1.10


$

1.18










Acquired deferred revenue adjustment

(A)





0.02


0.02










Restructuring charges

(B)


0.01


0.01



0.05


0.05










Amortization of purchased intangible assets

(C)


0.16


0.16



0.66


0.66










Stock-based compensation

(D)


0.08


0.08



0.31


0.31










Acquisition / divestiture items

(E)


0.01


0.01



0.04


0.04










Amortization of acquired capitalized commissions

(F)


(0.01)


(0.01)



(0.03)


(0.03)










Non-GAAP tax adjustments

(H)+(I)


(0.04)


(0.04)



(0.24)


(0.24)









Forecasted non-GAAP diluted net income per share attributable to Trimble Inc.:


$

0.45


$

0.49



$

1.91


$

1.99








FOOTNOTES TO GAAP TO NON-GAAP RECONCILIATION

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »
Featured Video
Editorial
Jobs
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Equipment Engineer, Raxium for Google at Fremont, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Mechanical Engineer 2 for Lam Research at Fremont, California
Upcoming Events
Celebrate Manufacturing Excellence at Anaheim Convention Center Anaheim CA - Feb 4 - 6, 2025
3DEXPERIENCE World 2025 at George R. Brown Convention Center Houston TX - Feb 23 - 26, 2025
TIMTOS 2025 at Nangang Exhibition Center Hall 1 & 2 (TaiNEX 1 & 2) TWTC Hall Taipei Taiwan - Mar 3 - 8, 2025
Additive Manufacturing Forum 2025 at Estrel Convention Cente Berlin Germany - Mar 17 - 18, 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