Trimble Navigation enjoys strong mobile sales
Oct 31 (Reuters) - Trimble Navigation Ltd, a navigation software maker, posted better-than-expected quarterly earnings and forecast a strong fourth quarter, helped by robust sales in the transport and logistics sectors.
Shares of the company rose 9 percent in trading after the bell on Thursday.
Trimble, which makes surveying, mapping, and marine navigation equipment and software based on global positioning data, said it expects fourth-quarter adjusted earnings of 35 cents to 39 cents per share on revenue of $560 million to $580 million.
Analysts were looking for earnings of 35 cents per share, on revenue of $564.4 million, according to Thomson Reuters I/B/E/S.
In the third quarter, revenue from Trimble's mobile business jumped 35 percent, mainly due to sales in the transport and logistics sectors.
Net income rose to $54.5 million, or 21 cents per share, compared with $53.8 million, or 21 cents per share, a year earlier.
Revenue rose 10 percent to $556.5 million.
Excluding items, the company earned 39 cents per share.
Analysts were looking for earnings of 36 cents per share on revenue of $559.1 million.
Trimble shares traded at $31.11 in extended trading. They closed at $28.52 on the Nasdaq on Thursday.