Trimble and GPS Earnings… No Bust, No Boom (TRMB, GRMN)
Trimble Navigation Limited (NASDAQ: TRMB) is seeing some mixed reaction after earnings offer no major boom nor a major bust for the world of global positioning companies and the new competition of free apps that can be input into smartphones. …
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
For the next quarter, Trimble sees first quarter non-GAAP earnings of $0.30 to $0.32 EPS and revenues of $308 to $313 million in revenues. Thomson Reuters has estimates of $0.33 EPS and $308.14 million in revenues… The same quarter revenues from a year ago were $288.95 million.
We do now have a closer comparison for a year over year change. For the full year 2009, full year non-GAAP operating income of $172.1 million was down 32% from 2008. Full year 2009 non-GAAP operating margin was 15.3% versus 19.0% in 2008. Trimble’s revenue was $1.13 billion, down about 15% from 2008. Cash flow from operations for the full year 2009 was $194.6 million, as compared to $176.1 million in 2008.
Today’s numbers might not spell major disaster in the world of global positioning systems nor potentially that of personal navigation devices, but it is no longer showing the great expectations previously sought. It is also not an apples-to-apples comparison between these two companies, but that is what traders have tried to use for some time in making inferences and references. Unless there are nasty surprises in the conference call, today’s news is unlikely to move the needle on Garmin Ltd. (NASDAQ: GRMN).
Trimble shares closed up 0.25% at $23.27 and shares are trading at $23.15 in the after-hours session. The 52-week range is $11.96 to $26.17.
JON C. OGG
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.