Trimble Announces Third Quarter 2024 Results

 



GAAP TO NON-GAAP RECONCILIATION

(Dollars in millions, except per share data)

(Unaudited)









Third Quarter of


First Three Quarters of






2024


2023


2024


2023






Dollar
Amount

% of
Revenue


Dollar
Amount

% of
Revenue


Dollar
Amount

% of
Revenue


Dollar
Amount

% of
Revenue

REVENUE:















GAAP revenue:



$   875.8



$   957.3



$ 2,699.9



$ 2,866.3


















GROSS MARGIN:















GAAP gross margin:



$   575.6

65.7 %


$   590.2

61.7 %


$ 1,715.1

63.5 %


$ 1,755.5

61.2 %



Amortization of purchased intangible assets

(A)


18.9



27.7



74.7



80.9




Acquisition / divestiture items

(B)








0.4




Stock-based compensation / deferred compensation

(C)


4.2



3.8



12.7



11.4




Restructuring and other costs

(D)


0.9



0.1



2.9



(0.6)



Non-GAAP gross margin:



$   599.6

68.5 %


$   621.8

65.0 %


$ 1,805.4

66.9 %


$ 1,847.6

64.5 %

















OPERATING EXPENSES:















GAAP operating expenses:



$   459.2

52.4 %


$   468.9

49.0 %


$ 1,427.9

52.9 %


$ 1,403.6

49.0 %



Amortization of purchased intangible assets

(A)


(26.5)



(31.2)



(79.7)



(74.8)




Acquisition / divestiture items

(B)


(17.4)



(22.0)



(75.2)



(55.1)




Stock-based compensation / deferred compensation

(C)


(33.9)



(34.1)



(102.3)



(104.0)




Restructuring and other costs

(D)


(6.6)



(10.8)



(18.9)



(30.2)



Non-GAAP operating expenses:



$   374.8

42.8 %


$   370.8

38.7 %


$ 1,151.8

42.7 %


$ 1,139.5

39.8 %

















OPERATING INCOME:















GAAP operating income:



$   116.4

13.3 %


$   121.3

12.7 %


$   287.2

10.6 %


$   351.9

12.3 %



Amortization of purchased intangible assets

(A)


45.4



58.9



154.4



155.7




Acquisition / divestiture items

(B)


17.4



22.0



75.2



55.5




Stock-based compensation / deferred compensation

(C)


38.1



37.9



115.0



115.4




Restructuring and other costs

(D)


7.5



10.9



21.8



29.6



Non-GAAP operating income:



$   224.8

25.7 %


$   251.0

26.2 %


$   653.6

24.2 %


$   708.1

24.7 %

















NON-OPERATING (EXPENSE) INCOME, NET:












GAAP non-operating (expense) income, net:



$   (43.3)



$   (41.9)



$ 1,620.9



$   (54.4)




Acquisition / divestiture items

(B)


26.8



(5.1)



(1,692.7)



(37.6)




Deferred compensation

(C)


(1.6)



0.8



(4.7)



(2.9)




Restructuring and other costs

(D)


1.4



0.1



6.8



1.4



Non-GAAP non-operating expense, net:



$   (16.7)



$   (46.1)



$   (69.7)



$   (93.5)
























GAAP
and
Non-
GAAP
Tax Rate
%



GAAP
and
Non-
GAAP
Tax Rate
%



GAAP
and
Non-
GAAP
Tax Rate
%



GAAP
and
Non-
GAAP
Tax Rate
%







(G)



(G)



(G)



(G)

INCOME TAX PROVISION:












GAAP income tax provision:



$     32.5

44.5 %


$       4.5

5.7 %


$   493.9

25.9 %


$     49.2

16.5 %



Non-GAAP items tax effected

(E)


60.1



7.2



(313.5)



48.6




Difference in GAAP and Non-GAAP tax rate

(F)


(56.4)



23.0



(79.4)



9.7



Non-GAAP income tax provision:



$     36.2

17.4 %


$     34.7

16.9 %


$   101.0

17.3 %


$   107.5

17.5 %

















NET INCOME:















GAAP net income:



$     40.6



$     74.9



$ 1,414.2



$   248.3




Amortization of purchased intangible assets

(A)


45.4



58.9



154.4



155.7




Acquisition / divestiture items

(B)


44.2



16.9



(1,617.5)



17.9




Stock-based compensation / deferred compensation

(C)


36.5



38.7



110.3



112.5




Restructuring and other costs

(D)


8.9



11.0



28.6



31.0




Non-GAAP tax adjustments

(E) - (F)


(3.7)



(30.2)



392.9



(58.3)



Non-GAAP net income:



$   171.9



$   170.2



$   482.9



$   507.1


















DILUTED NET INCOME PER SHARE:












GAAP diluted net income per share:



$     0.16



$     0.30



$     5.73



$     1.00




Amortization of purchased intangible assets

(A)


0.18



0.24



0.63



0.63




Acquisition / divestiture items

(B)


0.18



0.07



(6.56)



0.07




Stock-based compensation / deferred compensation

(C)


0.15



0.15



0.45



0.45




Restructuring and other costs

(D)


0.04



0.04



0.12



0.12




Non-GAAP tax adjustments

(E) - (F)


(0.01)



(0.12)



1.59



(0.23)



Non-GAAP diluted net income per share:



$     0.70



$     0.68



$     1.96



$     2.04


















ADJUSTED EBITDA:












GAAP operating income:



$   116.4

13.3 %


$   121.3

12.7 %


$   287.2

10.6 %


$   351.9

12.3 %



Amortization of purchased intangible assets

(A)


45.4



58.9



154.4



155.7




Acquisition / divestiture items

(B)


17.4



22.0



75.2



55.5




Stock-based compensation / deferred compensation

(C)


38.1



37.9



115.0



115.4




Restructuring and other costs

(D)


7.5



10.9



21.8



29.6



Non-GAAP operating income:



224.8

25.7 %


251.0

26.2 %


653.6

24.2 %


708.1

24.7 %



Depreciation expense and cloud computing amortization



11.8



12.0



34.8



35.8




Income from equity method investments, net



0.8



5.2



13.9



24.6



Adjusted EBITDA:



$   237.4

27.1 %


$   268.2

28.0 %


$   702.3

26.0 %


$   768.5

26.8 %






















































Fourth Quarter of 2024


Year 2024












Low End

High End


Low End

High End







FORECASTED DILUTED NET INCOME PER SHARE:











Forecasted GAAP diluted net income per share:



$     0.52

$  0.61


$     6.25

$  6.32









Amortization of purchased intangible assets

(A)


0.18

0.18


0.81

0.81









Acquisition / divestiture items

(B)


0.02

0.02


(6.52)

(6.52)









Stock-based compensation / deferred compensation

(C)


0.18

0.18


0.63

0.63









Restructuring and other costs

(D)


0.02

0.02


0.13

0.13









Non-GAAP tax adjustments

(E) - (F)


(0.09)

(0.10)


1.49

1.50








Forecasted non-GAAP diluted net income per share:


$     0.83

$  0.91


$     2.79

$  2.87







FOOTNOTES TO GAAP TO NON-GAAP RECONCILIATION

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »
Featured Video
Editorial
Jobs
Mechanical Engineer 3 for Lam Research at Fremont, California
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
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
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