SUNNYVALE, Calif. — Trimble announced financial results for the fourth quarter and fiscal year end 2016 results.
Fourth Quarter 2016 Financial Summary
Fourth quarter 2016 revenue of $585.5 million was up 5% as compared to the fourth quarter of 2015. Engineering and Construction revenue was $320.2 million, up less than 1%. Field Solutions revenue was $83.3 million, up 5%. Mobile Solutions revenue was $146.8 million, up 11%. Advanced Devices revenue was $35.2 million, up 21%.
"Both the fourth quarter and full year performances demonstrated progression," said Steve Berglund, Trimble's president and chief executive officer. "For the second half of the year, every segment reported both organic revenue growth and margin expansion. We anticipate 2017 will demonstrate continued growth and margin improvement."
Fiscal 2016 Financial Summary
Fiscal 2016 revenue of $2.4 billion was up 3% as compared to fiscal 2015. Engineering and Construction revenue was $1.3 billion, up 2%. Field Solutions revenue was $354.3 million, down slightly. Mobile Solutions revenue was $559.7 million, up 8%. Advanced Devices revenue was $134.6 million, up 2%.
Forward Looking Guidance
For the first quarter of 2017 Trimble expects revenue to be between $585 million and $615 million with GAAP earnings per share of $0.12 to $0.17 and non-GAAP earnings per share of $0.27 to $0.32. Non-GAAP guidance excludes the amortization of intangibles of $32 million related to previous acquisitions, anticipated acquisition costs of $3 million, the anticipated impact of stock-based compensation expense of $14 million, and $2 million in anticipated restructuring charges. GAAP and non-GAAP guidance assumes a tax rate of 24 percent. Both GAAP and non-GAAP earnings per share assume approximately 256 million shares outstanding.
To read Trimble’s entire report, visit www.Trimble.com.