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Trimble profit misses consensus by 48.6% in Q1

Trimble Inc. said its normalized net income for the first quarter was 15 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS rose 107.7% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $39.4 million, an increase of 109.2% from $18.9 million in the first quarter ended April 1, 2016.

The normalized profit margin climbed to 6.4% from 3.2% in the year-earlier period.

Total revenue increased 5.3% on an annual basis to $613.9 million from $583.0 million, and total operating expenses totaled $551.7 million, compared with $549.4 million in the prior-year period.

Reported net income grew 151.9% on an annual basis to $51.2 million, or 20 cents per share, from $20.3 million, or 8 cents per share.