GPS World: Trimble Hits $1B in Revenue in 2007

Discussion in 'Global Navigation Satellite Systems' started by Sam Wormley, Feb 7, 2008.

  1. Sam Wormley

    Sam Wormley Guest

    Trimble Hits $1B in Revenue in 2007
    http://cp.gpsworld.com/gpscp/content/printContentPopup.jsp?id=488028

    Jan 30, 2008 GPS World

    Trimble saw revenue jump 34 percent in Q4 of last year and 30 percent
    in all of 2007, the company reported today \u2014 enough to tip it
    over the billion-dollar revenue mark.

    The company posted its results for Q4 and 2007, recording Q4 revenue
    of $312.8 million, and revenue of $1.2 billion for the year. Net
    income for the quarter was up approximately 10 percent, to $26.3
    million, compared to net income of $24 million in Q4 2006. Diluted
    earnings per share for the most recent quarter were 21 cents, up from
    the 20 cents per diluted share in the year-ago period.

    The company's net income for 2007 was up approximately 13 percent, to
    $117.4 million, compared to net income of $103.7 million in 2006.
    Diluted earnings per share the year was 94 cents, compared to 89
    cents per diluted share in 2006.

    "Trimble achieved a number of milestones in 2007 including that of
    becoming a billion dollar revenue company," said Steven W. Berglund,
    Trimble CEO. "Our future success remains centered on continuous
    innovation, aggressive expansion into international markets, and
    executing at a world class level for our users. Despite a slower U.S.
    construction market we continue to believe we can grow revenue by 14
    to 17 percent in 2008 based on continued strength in international
    markets, a strong agriculture market, and achieving the potential
    within our Mobile Solutions segment," he said.

    Trimble's Q4 and 2007 revenue, as broken down by business segment:


    o Engineering and Construction (E&C) Q4 revenue was $186.7 million,
    up approximately 17 percent year over year, driven by all businesses
    within the segment and a strong international market. 2007 E&C
    revenue for the year was $743.3 million, up approximately 17 percent,
    driven by all businesses within the segment.

    o Field Solutions (TFS) Q4 revenue was $49.6 million, up
    approximately 62 percent year over year, driven by robust sales of
    agricultural products. For the year TFS revenue was $200.6 million,
    up approximately 44 percent.

    o Mobile Solutions (TMS) Q4 revenue was $47.7 million, up
    approximately 181 percent year over year; the 2006 figures don't
    include Trimble's @Road acquisition. 2007 TMS revenue was $157.7
    million, up approximately 159 percent when compared to revenue of
    $60.9 million in 2006.

    o Advanced Devices Q4 revenue was $28.8 million, up approximately 8
    percent year over year. For the year Advanced Devices revenue was
    $120.7 million, up approximately 17 percent.
     
    Sam Wormley, Feb 7, 2008
    #1
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