Trimble Navigation Ltd. reported higher fourth-quarter profit than a year ago and increased revenue.
Trimble, which provides GPS and other technologies, said its net income rose to $60 million, or 23 cents per share, from $32.6 million, or 13 cents per share, in the same period last year.
Revenue for the quarter rose 16% to $599.2 million, the Sunnyvale, Calif.-based company reported Feb. 11.
Operating income at the company’s Mobile Solutions segment, which includes PeopleNet, TMW and ALK, increased 17.2% from last year to $21.7 million, Trimble said.
The unit’s revenue climbed 20% from a year ago to $125.9 million as revenue from transportation and logistics sales increased due to organic growth and acquisitions.
“While the fourth quarter supports the anticipation of an improved organic growth outlook for 2014, the environment continues to be comparatively uncertain with variations of regional economic performance, continuing deferrals of investment and continued constrained government funding,” Trimble CEO Steven Berglund said in a statement.
The company reported full-year net income increased to $218.1 million, or 84 cents per share, from $189 million, or 74 cents per share. Revenue increased 12% to $2.3 billion.
For the first quarter, Trimble projected revenue of $610 million to $630 million with earnings per share in the range of 23 cents to 26 cents.
