Home News Trimble Q3 revenue grows by 15% as compared to last year

Trimble Q3 revenue grows by 15% as compared to last year

Trimble reports 15% higher revenue in third quarter 2017 as compared to the previous year

US: Trimble‘s third quarter 2017 revenue of $670.0 million went 15 percent higher as compared to the third quarter of 2016. Buildings and Infrastructure revenue was $214.5 million, 13 percent higher. Geospatial revenue was $169.7 million, 6 percent higher. Resources and Utilities revenue was $114.4 million, 31 percent higher. Transportation revenue was $171.4 million, 16 percent higher.

GAAP operating income was $64.0 million, 16 percent higher as compared to the third quarter of 2016. GAAP operating margin was 9.6 percent of revenue as compared to 9.5 percent of revenue in the third quarter of 2016.

GAAP net income was $55.7 million, 42 percent more as compared to the third quarter of 2016. Diluted GAAP earnings per share were $0.22 as compared to diluted GAAP earnings per share of $0.15 in the third quarter of 2016.

Non-GAAP operating income of $123.6 million was 12 percent higher as compared to the third quarter of 2016. Non-GAAP operating margin was 18.4 percent of revenue as compared to 19.0 percent of revenue in the third quarter of 2016.

Non-GAAP net income of $99.6 million was 19 percent higher as compared to the third quarter of 2016. Diluted non-GAAP earnings per share were $0.39 as compared to diluted non-GAAP earnings per share of $0.33 in the third quarter of 2016.

The GAAP tax rate for the quarter was 20 percent as compared to 25 percent in the third quarter of 2016, and the non-GAAP tax rate was 23 percent as compared to 24 percent in the third quarter of 2016.

Operating cash flow for the first three quarters of 2017 was $310.0 million, up 8 percent as compared to the first three quarters of 2016. Deferred revenue for the third quarter of 2017 was $326.7 million, up 11 percent as compared to the third quarter of 2016.

During the third quarter, Trimble completed the acquisitions of Müller-Elektronik and 10-4 Systems. Trimble also repurchased approximately 2.2 million shares of its common stock for $84 million, and year to date has repurchased approximately 3.1 million shares for $111 million. Approximately $19 millionremains under the current share repurchase authorization as of the end of the third quarter.

“The quarter reflected relative strength across all segments and all regions. Organic revenue growth was over 10 percent and was augmented by acquisition activity,” said Steven W. Berglund, Trimble‘s president and chief executive officer. “These performance levels provide a foundation for continuing the positive trend into 2018.”