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Trimble profit misses consensus by 50.9% in fiscal Q4

Trimble Inc. said its normalized net income for the fiscal fourth quarter ended Dec. 30, 2016, was 14 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS rose 64.9% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $36.9 million, a gain of 65.9% from $22.2 million in the fourth quarter ended Jan. 1, 2016.

The normalized profit margin climbed to 6.3% from 4.0% in the year-earlier period.

Total revenue rose year over year to $585.5 million from $559.7 million, and total operating expenses came to $524.4 million, compared with $521.6 million in the year-earlier period.

Reported net income rose 51.5% on an annual basis to $38.2 million, or 15 cents per share, from $25.2 million, or 10 cents per share.

For the year, the company's normalized net income totaled 48 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.17.

EPS rose from 42 cents in the prior year.

Normalized net income was $121.1 million, a rise from $108.3 million in the prior year.

Full-year total revenue increased from the prior-year period to $2.36 billion from $2.29 billion, and total operating expenses rose year over year to $2.16 billion from $2.11 billion.

The company said reported net income increased year over year to $132.0 million, or 52 cents per share, in the full year, from $121.5 million, or 47 cents per share.