Trimble’s Profit Increases in 3Q
Trimble Navigation Ltd. reported higher third-quarter profit than a year ago and said earnings nearly doubled at its segment that includes trucking technology providers PeopleNet Communications Corp., TMW Systems Inc. and ALK Technologies Inc.
Trimble, which provides GPS and other technologies to a variety of industries, said its net income rose 2% to $54.5 million, from $53.4 million in the same period last year. Earnings per share were flat at 21 cents.
Revenue for the quarter rose 10% to $556.5 million, from $504.8 million, the Sunnyvale, Calif.-based company said in its Oct. 31 report.
Operating income at the company’s Mobile Solutions segment, which includes PeopleNet, TMW and ALK, jumped to $15.3 million, from $8.2 million in last year’s quarter, Trimble said.
The unit’s revenue climbed 35% from a year ago to $113.6 million as revenue from transportation and logistics sales increased due to both organic growth and acquisitions.
For the fourth quarter, Trimble projected revenue of $560 million to $580 million with earnings per share in the range of 17 cents to 21 cents.
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