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Trimble profit misses consensus by 65.6% in fiscal Q1

Trimble Inc. said its normalized net income for the fiscal first quarter ended April 3 was 10 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS declined 44.6% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.7 million, a decline of 45.1% from $48.6 million in the year-earlier period.

The normalized profit margin dropped to 4.6% from 8.0% in the year-earlier period.

Total revenue decreased on an annual basis to $582.6 million from $604.7 million, and total operating expenses rose on an annual basis to $539.0 million from $527.2 million.

Reported net income fell 50.5% year over year to $34.1 million, or 13 cents per share, from $68.8 million, or 26 cents per share.