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Trimble profit misses consensus by 48.0% in Q2

Trimble Inc. said its normalized net income for the second quarter came to 18 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS increased 64.4% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $46.5 million, an increase of 66.6% from $27.9 million in the second quarter ended July 1, 2016.

The normalized profit margin climbed to 7.0% from 4.6% in the year-earlier period.

Total revenue rose 8.6% on an annual basis to $661.9 million from $609.6 million, and total operating expenses increased 5.0% from the prior-year period to $591.7 million from $563.3 million.

Reported net income rose 37.5% on an annual basis to $48.8 million, or 19 cents per share, from $35.5 million, or 14 cents per share.