Trimble Navigation Ltd., the parent of several major trucking-technology companies, reported higher first-quarter profit as revenue grew from a year ago.
The company said net income rose to $68.6 million, or 26 cents per share, from $49.8 million, or 19 cents. Revenue climbed 9% to $604.7 million.
Operating income at Trimble’s Mobile Solutions segment, which includes PeopleNet Communications Corp., TMW Systems Inc. and ALK Technologies Inc., increased to $16.2 million from $11.6 million.
The unit’s revenue rose 8% to $118.6 million, primarily due to “double-digit” growth in sales of its transportation and logistics offerings, Trimble said.
On the company’s May 6 earnings call, CEO Steven Berglund said he expects growth to continue in Trimble’s transportation and logistics division, which accounts for about 75% of the Mobile Solutions segment.
Berglund said Trimble is investing in its mobile and enterprise products this year to “better tie those elements together.”