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Trimble profit misses consensus by 46.8% in fiscal Q3

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Trimble profit misses consensus by 46.8% in fiscal Q3

Trimble Inc. said its normalized net income for the fiscal third quarter ended Oct. 2 came to 12 cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.

EPS declined 23.1% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $30.7 million, a decrease of 25.2% from $41.1 million in the year-earlier period.

The normalized profit margin declined to 5.5% from 7.0% in the year-earlier period.

Total revenue decreased on an annual basis to $562.3 million from $584.8 million, and total operating expenses decreased year over year to $510.6 million from $516.8 million.

Reported net income grew 240.5% on an annual basis to $36.0 million, or 14 cents per share, from $10.6 million, or 4 cents per share.