Tuesday, Trimble Navigation Ltd. (TRMB) reported third-quarter net income of $15.6 million or $0.13 per share, down from $39.1 million or $0.31 per share in the same quarter last year.
On an adjusted basis, net income was $30.2 million or $0.25 per share, compared to net income of $50.2 million or $0.40 per share in the year ago quarter.
On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.26 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter was $269.7 million, down 18% from $328.1 million in the comparable quarter last year. Analysts expected the company to report revenue of $271.77 million for the quarter.
Looking ahead to the fourth quarter, the company expects revenue in the range of $265 million - $270 million with earnings in the range of $0.08 - $0.10 per share. On a non-GAAP basis, earnings are expected to be in the range of $0.19 - $0.21 per share. Analysts currently anticipate the company to earn $0.24 per share on revenue of $264.35 million for the quarter.
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