Trimble Navigation reports higher Q4 net income, provides guidance for Q1

Trimble Navigation Limited has reported that net income attributable to the company for the fourth quarter of 2012 was $33.19 million, or $0.26 per diluted share, compared to $29.4 million, or $0.23 per diluted share, for the fourth quarter of 2011. For the first quarter of 2013, the company expects revenue between $575 million and $580 million with GAAP EPS of $0.41 to $0.43 and non-GAAP earnings per share of $0.74 to $0.76.

Total revenues for the fourth quarter of 2012 were $515.52 million, compared to $435.17 million for the fourth quarter of 2011.

Net income attributable to the company for fiscal 2012 was $191.06 million, or $1.49 per diluted share, compared to $150.75 million, or $1.20 per diluted share, for fiscal 2011.

Total revenues for fiscal 2012 were $2.04 billion, compared to $1.64 billion for fiscal 2011.

"Our quarterly results were consistent with our expectations in an environment that remains volatile. In the US we saw a clear improvement in commercial and residential construction markets which was offset by a general tendency late in the year to defer investment decisions pending better clarity on the outcome of government budget actions," said Steven Berglund, Trimble's president and CEO. "Conditions in Europe remained difficult while most other regions continued to be comparatively healthy. Our outlook for 2013 remains that of healthy growth although it is conditioned upon the state of volatility in the US and Europe."