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 Nov. 2, 2012 Source: Trimble news release To view entire report, click here. Trimble (NASDAQ: TRMB) today announced third quarter revenue of $504.8 million, up 21 percent as compared to the third quarter of 2011. GAAP operating income for the third quarter of 2012 was $63.5 million, up 96 percent as compared to the third quarter of 2011. GAAP operating margin in the third quarter of 2012 was 12.6 percent of revenue as compared to 7.8 percent of revenue in the third quarter of 2011. GAAP net income for the third quarter of 2012 was $53.4 million, up 91 percent as compared to the third quarter of 2011. Diluted earnings per share in the third quarter of 2012 were $0.42 as compared to diluted earnings per share of $0.22 in the third quarter of 2011. The tax rate for both GAAP and non-GAAP results was 19 percent for the third quarter of 2012 as compared to 9 percent in the third quarter of 2011, primarily due to the geographical mix of pre-tax income and the absence of research and development tax credits. Third quarter 2012 non-GAAP operating income of $105.3 million was up 44 percent as compared to the third quarter of 2011. Non-GAAP operating margin was 20.9 percent of revenue as compared to 17.5 percent of revenue in the third quarter of 2011. Non-GAAP net income of $86.8 million for the third quarter of 2012 was up 32 percent as compared to the third quarter of 2011. Diluted non-GAAP earnings per share in the third quarter of 2012 were $0.68 as compared to diluted non-GAAP earnings per share of $0.52 in the third quarter of 2011. Field Solutions Third quarter 2012 Field Solutions revenue was $103.0 million, up 13 percent as compared to the third quarter of 2011 due primarily to increased sales of agricultural products. Third quarter 2012 Field Solutions operating income was $36.0 million, or 35.0 percent of revenue, as compared to $31.0 million, or 34.1 percent of revenue, in the third quarter of 2011. Non-GAAP operating income was $36.6 million, or 35.6 percent of revenue, as compared to $31.6 million, or 34.7 percent of revenue, in the third quarter of 2011 due primarily to improvements in agricultural product margins. Tweet |
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