US: Trimble second quarter results announced on Thursday. In the second quarter, the company reported a growth of USD 661.9 million, a 9% growth in this quarter as compared to second quarter of 2016. Buildings and Infrastructure revenue was reported USD 222.7 million, an increase of 10%.
The Geospatial revenue that was reported to be USD 165.3 million also increased by 1%. Resources and Utilities revenue was USD 111.0 million, showed increase 12%. Transportation revenue, which was USD 162.9 million, increased by 13%.
GAAP operating income was USD 62.6 million, up 55% as compared to the second quarter of 2016. GAAP operating margin was 9.5% of revenue as compared to 6.7% of revenue in the second quarter of 2016.
GAAP net income was USD 49.9 million, up 40% as compared to the second quarter of 2016. Diluted GAAP earnings per share were USD 0.19 as compared to diluted GAAP earnings per share of USD 0.14 in the second quarter of 2016.
Non-GAAP net income of USD 96.5 million was up 30% as compared to the second quarter of 2016. The GAAP tax rate for the quarter was 26% as compared to 7% in the second quarter of 2016, and the non-GAAP tax rate was 23% as compared to 24% in the second quarter of 2016.
Operating cash flow for the first two quarters of 2017 was USD 248.7 million, up 27% as compared to the first two quarters of 2016. Deferred revenue for the second quarter of 2017 was USD 341.0 million, up 8% as compared to the second quarter of 2016.
During the second quarter, Trimble acquired BOS Forestry, NM Group, and Innovative Software Engineering (ISE). During the second quarter, Trimble also announced that it agreed to acquire Müller-Elektronik, which closed early in the third quarter of 2017.
“The second quarter revenue and income exceeded our expectations with improved performance across the company,” said Steven W. Berglund, Trimble‘s president and chief executive officer.
“The performance validates our expectations of a further step-up in revenue growth during the second half of the year, driven by both organic growth and a contribution from new acquisitions.”