CIMdata PLM Industry Summary Online Archive

5 February 2013

Financial News

Trimble Announces Fourth Quarter and Fiscal Year End Results

Trimble has 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. 

Fourth quarter 2012 non-GAAP results are adjusted for the following:

  • Restructuring expense of $350 thousand as compared to $644 thousand in the fourth quarter of 2011;
  • Amortization of intangibles of $36.4 million as compared to $29.2 million in the fourth quarter of 2011;
  • Stock-based compensation expense of $9.0 million as compared to $7.4 million in the fourth quarter of 2011;
  • Acquisition-related inventory step-up charge of $1.7 million as compared to $739 thousand in the fourth quarter of 2011;
  • Acquisition-related costs net of divestiture gain of $467 thousand as compared to $1.9 million in the fourth quarter of 2011;
  • No gain or loss on foreign currency exchange from a hedge associated with an acquisition as compared to a loss of $1.7 million in the fourth quarter of 2011;
  • Debt-issuance write-off of $82 thousand versus no debt-issuance write-off in the fourth quarter of 2011.

To view an unabridged version of this press release, visit: http://www.trimble.com/news/release.aspx?id=020513c

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