Trimble Reports Fourth Quarter and Fiscal 2012 Results

2013-02-05 16:05 ET - News Release

 

- Fourth Quarter 2012 Revenue $515.5 Million, Up 18 percent; Non-GAAP Diluted Earnings Per Share $0.57
- Fiscal 2012 Revenue $2.0 Billion, up 24 Percent; Non-GAAP Diluted Earnings Per Share $2.65

SUNNYVALE, Calif., Feb. 5, 2013 /PRNewswire/ -- Trimble (NASDAQ: TRMB) today announced fourth quarter and fiscal year end results.

Fourth Quarter 2012

Fourth quarter 2012 revenue of $515.5 million was up 18 percent as compared to the fourth quarter of 2011.

GAAP operating income for the fourth quarter of 2012 was $30.3 million, up 6 percent as compared to the fourth quarter of 2011. GAAP operating margin in the fourth quarter of 2012 was 5.9 percent of revenue as compared to 6.6 percent of revenue in the fourth quarter of 2011.

GAAP net income for the fourth quarter of 2012 was $33.2 million, up 13 percent as compared to the fourth quarter of 2011. Diluted earnings per share in the fourth quarter of 2012 were $0.26 as compared to diluted earnings per share of $0.23 in the fourth quarter of 2011. The tax rate was 16 percent for the fourth quarter of 2012 as compared to 8 percent in the fourth quarter of 2011.

Fourth quarter 2012 non-GAAP operating income of $85.1 million was up 24 percent as compared to the fourth quarter of 2011. Non-GAAP operating margin was 16.5 percent of revenue as compared to 15.8 percent of revenue in the fourth quarter of 2011.

Non-GAAP net income of $73.4 million for the fourth quarter of 2012 was up 8 percent as compared to the fourth quarter of 2011. Diluted non-GAAP earnings per share in the fourth quarter of 2012 were $0.57 as compared to diluted non-GAAP earnings per share of $0.54 in the fourth quarter of 2011.

 

Field Solutions

Fourth quarter 2012 Field Solutions revenue was $108.1 million, up 13 percent as compared to the fourth quarter of 2011 due primarily to increased sales of agricultural products.

Fourth quarter 2012 Field Solutions operating income was $37.1 million, or 34.3 percent of revenue, as compared to $34.1 million, or 35.7 percent of revenue, in the fourth quarter of 2011. Non-GAAP operating income was $37.9 million, or 35.1 percent of revenue, as compared to $34.7 million, or 36.3 percent of revenue, in the fourth quarter of 2011. Non-GAAP operating margin was down primarily due to product mix in Geographical Information System (GIS) sales.

Fiscal 2012 Field Solutions revenue was $482.0 million, up 16 percent as compared to fiscal 2011 due primarily to increased sales of agricultural products.

Fiscal 2012 Field Solutions operating income was $182.1 million, or 37.8 percent of revenue, as compared to $160.1 million, or 38.7 percent of revenue, in fiscal 2011. Fiscal 2012 non-GAAP operating income was $184.9 million, or 38.4 percent of revenue, as compared to $162.4 million, or 39.3 percent of revenue, in fiscal 2011. Non-GAAP operating margins were down primarily due to product mix in GIS sales