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Trimble profit misses consensus by 61.3% in fiscal Q2

Trimble Inc. said its normalized net income for the fiscal second quarter ended July 3 amounted to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

EPS declined 56.5% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $27.8 million, a decline of 57.3% from $65.0 million in the prior-year period.

The normalized profit margin declined to 4.7% from 10.1% in the year-earlier period.

Total revenue fell 8.8% on an annual basis to $585.8 million from $642.2 million, and total operating expenses totaled $541.5 million, compared with $542.0 million in the prior-year period.

Reported net income decreased 66.1% from the prior-year period to $26.1 million, or 10 cents per share, from $77.1 million, or 29 cents per share.