Asian Surveying & Mapping
Breaking News
India’s remote sensing satellites, assets to be transferred to PSU
Chennai: The Indian government has decided to transfer all its...
Roads to Nowhere Cost Baidu $10 Million in Mapping Dispute
Wonky ponds and roads to nowhere have cost search...
China to launch moon probe, seeking first lunar rock retrieval since 1970s
BEIJING  - China plans to launch an unmanned spacecraft...
NASA, ESA ARE PREPARING TO LAUNCH THE LARGEST EARTH-OBSERVING SATELLITE EVER
On November 21, the European Space Agency (ESA) and...
Australian Space Forum to strengthen ties with Japan
The 10th Australian Space Forum will discuss how the Australian...
Terra Drone completes the investment in Slovenia’s aerospace solutions provider C-Astral
Terra Drone Corporation (Headquarters: Shibuya-ku, Tokyo, CEO: Toru Tokushige,...
Airbus Wins ESA’s LSTM Temperature-Check Mission for Copernicus Next Generation
The European Space Agency (ESA) has selected Airbus Defense...
UK academics build infrastructure-light GNSS-based traffic management system for African cities
UK-based navigation tech start-up Route Masters has announced it is...
SMBC Launches New Geospatial Data Service Powered By Orbital Insight
The Japanese bank will help customers understand key social...
DARPA Names Participants for UAS Aerial Combat Algorithm Prototyping Effort
The Defense Advanced Research Projects Agency has awarded contracts...

August 3rd, 2011
Trimble Announces Second Quarter 2011 Revenue of $407.2 Million, Up 22 Percent

Second quarter 2011 net income was $53.7 million, up 745 percent as compared to the second quarter of 2010.  Second quarter 2010 net income was impacted by a one-time charge for an IRS settlement.  Diluted earnings per share in the second quarter of 2011 were $0.43 as compared to diluted earnings per share of $0.05 in the second quarter of 2010.  

Second quarter 2011 non-GAAP operating income of $80.3 million was up 30 percent as compared to the second quarter of 2010.  Non-GAAP operating margin was 19.7 percent compared to 18.5 percent in the second quarter of 2010.  

Non-GAAP net income of $75.2 million for the second quarter of 2011 was up 46 percent as compared to the second quarter of 2010.  Diluted non-GAAP earnings per share in the second quarter of 2011 were $0.60 as compared to diluted non-GAAP earnings per share of $0.42 in the second quarter of 2010. 

Second quarter 2011 non-GAAP results exclude:

  • Restructuring expense of $550 thousand as compared to $430 thousand in the second quarter of 2010;
  • Amortization of intangibles of $16.6 million as compared to $13.9 million in the second quarter of 2010;
  • Stock-based compensation expense of $7.1 million as compared to $5.0 million in the second quarter of 2010;
  • Acquisition-related inventory step-up charge of $1.2 million as compared to no charge in the second quarter of 2010;
  • Acquisition-related costs of $3.7 million as compared to $1.8 million in the second quarter of 2010;
  • Write-off of debt issuance costs of $377 thousand on a terminated credit facility;
  • Gain on foreign exchange of $5.6 million associated with the Tekla acquisition versus no gain in the second quarter of 2010 and;
  • No IRS settlement costs excluded as compared to $27.5 million excluded in the second quarter of 2010.