We believe that these non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, and to make operating decisions. These non-GAAP measures can be used to evaluate our historical and prospective financial performance, as well as our performance relative to competitors. To help our investors understand our past financial performance and our future results, as well as our performance relative to competitors, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non-GAAP financial measures. The replay will also be available on the Web at the address above. Investors without Internet access may dial into the call at (800) 528-9198 (U.S.) or (702) 928-6633 (international). The call will be broadcast live on the web at.
An accompanying slide presentation will be made available on the “Investors” section of the Trimble website, under the subheading “Events & Presentations”. PT to review its third quarter 2016 results.
Trimble will hold a conference call on November 1 at 2:00 p.m. Investor Conference Call / Webcast Details Both GAAP and non-GAAP earnings per share assume approximately 254 million shares outstanding. GAAP guidance assumes a tax rate of 28 percent and non-GAAP guidance assumes a tax rate of 24 percent. Non-GAAP guidance excludes the amortization of intangibles of $34 million related to previous acquisitions, anticipated acquisition costs of $1 million, the anticipated impact of stock-based compensation expense of $14 million, and $4 million in anticipated restructuring charges. Although we anticipate market ambiguities to persist into 2017, we continue to expect 2017 to be a year of growth and margin expansion.”įor the fourth quarter of 2016 Trimble expects revenue to be between $562 million and $592 million with GAAP earnings per share of $0.11 to $0.16 and non-GAAP earnings per share of $0.27 to $0.32. “We encountered more challenges than anticipated in the U.S., particularly in the geospatial market. Berglund, Trimble’s president and chief executive officer. “Our results in the quarter demonstrated progress, both top and bottom line,” said Steven W. Approximately $148 million remains under the current share repurchase authorization as of the end of the third quarter. Deferred revenue for the third quarter of 2016 was $294.3 million, up 7 percent as compared to the third quarter of 2015.ĭuring the third quarter, Trimble repurchased approximately 0.4 million shares of its common stock for $10.0 million, and year to date has repurchased approximately 4.2 million shares for $102.2 million. Operating cash flow for the first three quarters of 2016 was $282.0 million, up 2 percent as compared to the first three quarters of 2015. The GAAP tax rate for the quarter was 25 percent as compared to 15 percent in the third quarter of 2015, and the non-GAAP tax rate was 24 percent, unchanged from the third quarter of 2015. Diluted non-GAAP earnings per share were $0.33 as compared to diluted non-GAAP earnings per share of $0.30 in the third quarter of 2015. Non-GAAP net income of $84.0 million was up 8 percent as compared to the third quarter of 2015.
Non-GAAP operating margin was 19.0 percent of revenue as compared to 18.7 percent of revenue in the third quarter of 2015. Non-GAAP operating income of $110.8 million was up 6 percent as compared to the third quarter of 2015. Diluted GAAP earnings per share were $0.15 as compared to diluted GAAP earnings per share of $0.14 in the third quarter of 2015. GAAP net income was $39.2 million, up 6 percent as compared to the third quarter of 2015. GAAP operating margin was 9.5 percent of revenue as compared to 8.2 percent of revenue in the third quarter of 2015. GAAP operating income was $55.3 million, up 20 percent as compared to the third quarter of 2015. Advanced Devices revenue was $35.3 million, up 15 percent. Mobile Solutions revenue was $138.5 million, up 5 percent. Field Solutions revenue was $77.9 million, up 6 percent.
Engineering and Construction revenue was $332.4 million, up 2 percent. Third quarter 2016 revenue of $584.1 million was up 4 percent as compared to the third quarter of 2015.
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