Trimble Q2 profit climbs

Engineering and construction sales climb 28 % for quarter.

Trimble Navigation posted a better-than-expected quarterly profit, helped by strength at its engineering and construction segment, and forecast third-quarter profit in line with market expectations.

For the third quarter, the navigations-systems maker forecast earnings of 32 cents to 34 cents a share, excluding items, on revenue of $303 million to $308 million.

Analysts on average were looking for earnings of 33 cents a share, excluding special items, on revenue of $303.2 million, according to Thomson Reuters I/B/E/S.

For the second quarter ended July 2, the company earned $6.4 million, or 5 cents a share, compared to $20.9 million, or 17 cents a share, last year. The results include a one-time tax related charge of $27.5 million.

Excluding special items, Trimble earned 42 cents a share. Analysts were expecting 40 cents a share. This was the third quarter in a row when it trumped earnings estimates.

Revenue rose 15 percent to $333.4 million and beat estimates of $323.5 million.

Sales of products at the engineering and construction segment, which help in construction work, including the initial survey, planning, design and site preparation, grew 28 percent to $188.4 million.

Shares of Sunnyvale, California-based company closed at $30.20 Tuesday on Nasdaq.

Source: Reuters