Trimble Navigation Ltd. (TRMB) Thursday said its first-quarter profit increased 28 percent to $50.8 million or $0.40 per share from $39.7 million or $0.32 per share in the year-ago period, mainly on higher revenues.
Adjusted earnings for the period was $87.3 million, up 40 percent from last year. On a per-share basis, earnings increased to $0.68 from $0.50 last year.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.63 per share for the first quarter. Analysts' estimates typically exclude one-time items.
First-quarter revenue increased 31 percent to $502.3 million from $384.3 million last year. Analysts expected revenues of $477.75 million for the period.
Looking ahead to the second quarter, the company has forecast earnings in the range of $0.41 to $0.43 per share, with adjusted earnings expected to range between $0.69 and $0.71 per share. Analysts currently expect the company to earn $0.67 per share for the second quarter.
Second-quarter revenue is expected to range between $510 million and $515 million. Analysts expect revenue of $495.21 million.
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