WESTMINSTER, Colo. (AP) — WESTMINSTER, Colo. (AP) — Trimble Navigation Ltd. (TRMB) on Friday reported first-quarter net income of $57.2 million.
The Westminster, Colorado-based company said it had net income of 23 cents per share. Earnings, adjusted for amortization costs and stock option expense, were 64 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The GPS manufacturer posted revenue of $953.3 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $921.1 million.
For the current quarter ending in June, Trimble expects its per-share earnings to range from 56 cents to 60 cents.
The company said it expects revenue in the range of $845 million to $875 million for the fiscal second quarter.
Trimble expects full-year earnings in the range of $2.60 to $2.80 per share, with revenue ranging from $3.57 billion to $3.67 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TRMB at https://www.zacks.com/ap/TRMB
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