Trimble Navigation Ltd. (TRMB) Tuesday reported first-quarter profit of $48.93 million, down from $50.07 million in the same period last year.
Net income attributable to the company dropped to $49.81 million or $0.19 per share from $50.82 million or $0.20 per share last year.
Adjusted earnings for the quarter was $97.9 million or $0.38 per share. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.38 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased to $556.11 million from $502.27 million last year. Analysts expected revenues of $578.32 million.
Looking ahead to the second quarter, the company has forecast earnings in the range of $0.18 to $0.20 per share, with adjusted earnings in the order of $0.36 to $0.38 per share. Revenues are expected to range between $570 million and $580 million.
Analysts currently expect the company to earn $0.40 per share on revenues of $597.11 million for the second quarter.
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