Third quarter 2016 revenue of $584.1 million was up 4 percent as compared to the third quarter of 2015. Engineering and construction revenue was $332.4 million, up 2 percent. Field solutions revenue was $77.9 million, up 6 percent. Mobile solutions revenue was $138.5 million, up 5 percent. Advanced devices revenue was $35.3 million, up 15 percent.
GAAP operating income was $55.3 million, up 20 percent as compared to the third quarter of 2015. GAAP operating margin was 9.5 percent of revenue as compared to 8.2 percent of revenue in the third quarter of 2015.
GAAP net income was $39.2 million, up 6 percent as compared to the third quarter of 2015. Diluted GAAP earnings per share were $0.15 as compared to diluted GAAP earnings per share of $0.14 in the third quarter of 2015.
“Our results in the quarter demonstrated progress, both top and bottom line,” said Steven W. Berglund, Trimble’s president and chief executive officer. “We encountered more challenges than anticipated in the U.S., particularly in the geospatial market. Although we anticipate market ambiguities to persist into 2017, we continue to expect 2017 to be a year of growth and margin expansion.”
A complete chart of the financial results is available here.
Investor Conference Call / Webcast Details
Trimble will hold a conference call on November 1 at 2:00PM PT to review its third quarter 2016 results. An accompanying slide presentation will be made available on the “Investors” section of the Trimble website, www.trimble.com, under the subheading “Events & Presentations”. The call will be broadcast live on the web at http://investor.trimble.com. Investors without Internet access may dial into the call at (800) 528-9198 (US) or (702) 928-6633 (international). The passcode is 3870795. The replay will also be available on the Web at the address above.
Trimble is transforming the way the world works by delivering products and services that connect the physical and digital worlds. Core technologies in positioning, modeling, connectivity and data analytics enable customers to improve productivity, quality, safety and sustainability. From purpose built products to enterprise lifecycle solutions, Trimble software, hardware and services are transforming a broad range of industries such as agriculture, construction, geospatial and transportation and logistics.
For more information about Trimble, visit www.trimble.com.