US: Trimble Navigation Limited has reported the financial results for the second quarter with an increase of 11.4% on a year-over-year basis. It had revenue of $642.20 million for the quarter, compared to the consensus estimate of $621.23 million.
Engineering and Construction revenue was $368.1 million, up 17 percent, with growth across all major product categories. Field Solutions revenue was $114.5 million, down 1 percent due to weakness in sales of agriculture products, partially offset by an increase in Geographic Information System (GIS) sales. Mobile Solutions revenue was $122.9 million, up 6 percent due primarily to double-digit growth in sales of transportation and logistics solutions. Advanced Devices revenue was $36.8 million, up 17 percent. Revenue in all major regions grew, with the largest percentage increases in Europe and Asia Pacific.
The company has a market cap of $8.147 billion and a price-to-earnings ratio of 34.47. It updated its Q3 guidance to $0.35-0.40 EPS. "The results for the second quarter reflect record revenue and margin performance," said Steven W. Berglund, Trimble's president and chief executive officer.