May 6 Navigation software maker Trimble
Navigation Ltd reported a quarterly profit below
analysts' expectations as a severe winter in North America hurt
sales of its agriculture-related products.
Trimble also forecast second-quarter adjusted profit of
38-42 cents per share, below average analysts' estimate of 45
cents per share.
The company, which makes surveying, mapping, and marine
navigation equipment and software based on global positioning
data, said it expects revenue of $605 million-$630 million.
Analysts were expecting $645.8 million.
Trimble shares were down 10 percent at $34.35 in extended
The company's net income rose to $68.6 million, or 26 cents
per share, in the first quarter from $49.8 million, or 19 cents
per share, a year earlier.
Excluding items, Trimble earned 39 cents per share.
Revenue rose 8.7 percent to $604.7 million. Revenue in its
field solutions business fell 6 percent to $138.2 million.
Analysts on average had expected the company to earn 42
cents per share on revenue of $618.2 million, according to
Thomson Reuters I/B/E/S.
Trimble's field solutions business makes software that helps
farmers manage resources, such as water, and monitor yield.
(Reporting by Abhirup Roy in Bangalore; Editing by Joyjeet Das)