Trimble Reports Second Quarter 2009 Revenue of $290.1 Million and Non-GAAP Earnings Per Share of $0.31
TRIMBLE
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
Jul-3, Jan-2,
2009 2009
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Assets
Current assets:
Cash and cash equivalents $190,154 $147,531
Accounts receivables, net 199,928 204,269
Other receivables 9,747 17,540
Inventories, net 168,272 160,893
Deferred income taxes 36,358 41,810
Other current assets 18,392 16,404
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Total current assets 622,851 588,447
Property and equipment, net 48,905 50,175
Goodwill 746,159 715,571
Other purchased intangible assets, net 223,682 228,901
Other non-current assets 49,446 51,922
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Total assets $1,691,043 $1,635,016
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Liabilities
Current liabilities:
Current portion of long-term debt $48 $124
Accounts payable 55,596 49,611
Accrued compensation and benefits 45,196 41,291
Deferred revenue 68,603 55,241
Accrued warranty expense 14,161 13,332
Other accrued liabilities 39,160 63,719
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Total current liabilities 222,764 223,318
Non-current portion of long-term debt 151,460 151,464
Non-current deferred revenue 9,145 12,418
Deferred income taxes 36,453 42,207
Other non-current liabilities 63,877 61,553
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Total liabilities 483,699 490,960
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Commitments and contingencies
Equity
Shareholders' equity:
Common stock 699,790 684,831
Retained earnings 466,243 427,921
Accumulated other comprehensive income 36,934 27,649
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Total Trimble Navigation Ltd. shareholders'
equity 1,202,967 1,140,401
Noncontrolling interests 4,377 3,655
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Total equity 1,207,344 1,144,056
Total liabilities and equity $1,691,043 $1,635,016
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