Trimble Navigation Q4 Profit Down, Shares Fall

(RTTNews) - Trimble Navigation Limited (TRMB) Tuesday reported a drop in profit for the fourth quarter as revenues dropped. Shares of the company fell over 6 percent in the after-hours trade.

Fourth-quarter net income was $55.8 million or $0.21 per share, down from $60.0 million or $0.23 per share last year.

Adjusted earnings dropped to $0.29 per share from $0.43 per share last year.

Fourth-quarter revenues dropped to $563.8 million from $599.2 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.29 per share on revenues of $576.77 million for the quarter. Analysts' estimates typically exclude special items.

TRMB closed Tuesday's trading at $26.35, down $0.14 or 0.53%, on the Nasdaq. The stock further dropped $1.73 or 6.57% in the after-hours trade.