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Trimble profit misses consensus by 51.7% in fiscal Q3

Trimble Inc. said its normalized net income for the fiscal third quarter ended Sept. 29 came to 18 cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.

EPS increased 19.8% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $45.7 million, a gain of 22.0% from $37.4 million in the prior-year period.

The normalized profit margin rose to 6.8% from 6.4% in the year-earlier period.

Total revenue grew 14.7% on an annual basis to $670.0 million from $584.1 million, and total operating expenses increased 15.0% year over year to $602.5 million from $523.9 million.

Reported net income increased 49.4% year over year to $56.7 million, or 22 cents per share, from $38.0 million, or 15 cents per share.