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Trimble Navigation Ltd. Reports Operating Results (10-Q)

November 09, 2010 | About:
10qk

10qk

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Trimble Navigation Ltd. (TRMB) filed Quarterly Report for the period ended 2010-10-01.

Trimble Navigation Ltd. has a market cap of $4.48 billion; its shares were traded at around $37.63 with a P/E ratio of 31.6 and P/S ratio of 4. Trimble Navigation Ltd. had an annual average earning growth of 15% over the past 10 years. GuruFocus rated Trimble Navigation Ltd. the business predictability rank of 3-star.TRMB is in the portfolios of Richard Aster Jr of Meridian Fund, PRIMECAP Management, Columbia Wanger of Columbia Wanger Asset Management, Chuck Royce of Royce& Associates, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, Steven Cohen of SAC Capital Advisors, Mario Gabelli of GAMCO Investors.

Highlight of Business Operations:

In the three months ended October 1, 2010, total revenue increased by $48.5 million or 18%, as compared to the same corresponding period in fiscal 2009. Of the increase, Engineering and Construction revenue increased $40.2 million, Field Solutions increased $11.6 million, slightly offset by a decrease in Mobile Solutions of $1.9 million and a decrease in Advanced Devices of $1.4 million. The revenue increase was primarily due to a return to growth in the U.S. and rest of the world markets in Engineering and Construction and higher sales in Field Solutions due to increased farmer demand for agricultural products.

In the nine months ended October 1, 2010, total revenue increased by $121.9 million or 14%, as compared to the same corresponding period in fiscal 2009. Of the increase, Engineering and Construction revenue increased $111.4 million, Field Solutions increased $8.7 million, and Advanced Devices increased $4.9 million, slightly offset by a decrease in Mobile Solutions of $3.1 million. The revenue increase was primarily due to the economic recovery in the U.S. and rest of the world markets in Engineering and Construction.

Engineering and Construction revenue increased by $40.2 million or 27% and $111.4 million or 26% for the three and nine months ended October 1, 2010, respectively, as compared to the same corresponding periods in fiscal 2009. Segment operating income increased $15.5 million or 73% and $46.5 million or 109% for the three and nine months ended October 1, 2010, respectively, as compared to the same corresponding periods in fiscal 2009.

Field Solutions revenue increased by $11.6 million or 21% and $8.7 million or 4% for the three and nine months ended October 1, 2010, respectively, as compared to the same corresponding periods in fiscal 2009. Segment operating income increased by $4.7 million or 29% and $0.7 million or 1% for the three and nine months ended October 1, 2010, respectively, as compared to the same corresponding periods in fiscal 2009.

Mobile Solutions revenue decreased by $1.9 million or 5% and $3.1 million or 3% for the three and nine months ended October 1, 2010, respectively, as compared to the same corresponding period in fiscal 2009. Segment operating income decreased by $3.5 million or 102% and $8.0 million or 79% for the three and nine months ended October 1, 2010, respectively, as compared to the same corresponding periods in fiscal 2009.

Advanced Devices revenue decreased by $1.4 million or 6% and increased by $4.9 million or 7% for the three and nine months ended October 1, 2010, respectively, as compared to the same corresponding periods in fiscal 2009. Segment operating income decreased by $0.4 million or 9% and increased by $1.2 million or 9% for three and nine months ended October 1, 2010, respectively, as compared to the same corresponding periods in fiscal 2009.

Read the The complete Report

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