Trimble Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Trimble Inc. (TRMB) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $57.2 million, or $0.23 per share. This compares with $128.8 million, or $0.52 per share, in last year's first quarter.

Excluding items, Trimble Inc. reported adjusted earnings of $159.1 million or $0.64 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.1% to $953.3 million from $915.4 million last year.

Trimble Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $57.2 Mln. vs. $128.8 Mln. last year. -EPS (Q1): $0.23 vs. $0.52 last year. -Revenue (Q1): $953.3 Mln vs. $915.4 Mln last year.

-Guidance: Next quarter EPS guidance: $0.56 - $0.60 Next quarter revenue guidance: $845mln - $875mln Full year EPS guidance: $2.60 - $2.80 Full year revenue guidance: $3.57bln - $3.67bln