Geo Week News

January 2, 2014

Trimble stock price closes 2013 at all-time high



3D imaging firm’s new patent for generating 3D experience without 3D software

Shares of Trimble Navigation Ltd. closed out 2013 at an all-time high of $35.01 on Tuesday, generating a one-year return of nearly 16 percent.

Sunnyvale, Calif.-based, publicly traded (Nasdaq: TRMB) Trimble, with $2 billion in 2012 revenue, uses positioning technologies – GPS, lasers and optics – to focus on applications requiring position or location, including surveying, construction, agriculture, fleet and asset management, public safety and mapping. Trimble has a market cap of $8.9 billion.

Trimble also recently received a patent issued by the U.S. government for a lightweight 3D display. Patent #8,614,706 describes systems and techniques used to “generate a 3D experience for a user without the need for special 3D software.”

For example, a user may be allowed to manipulate a model in space in a web browser without needing special software such as a FLASH plug-in or the like.

Q3 results help push stock price

Trimble reported in November a 10 percent increase in third quarter revenue to $556.5 million on a 17 percent jump in net income to $101.9 million, or $0.39 earnings per share.

Third quarter results beat analysts’ average EPS expectations by three cents a share but missed consensus on revenue by about $2.6 billion.

“Although the worldwide economic environment is expected to remain challenging into 2014 and a constraint to robust growth, we did see encouraging signs in the quarter, particularly in survey instruments, building construction and agriculture,” said Steven Berglund, Trimble CEO, adding that demand from those markets bode well for improved organic growth next year over 2013.

Q4 Outlook

For the fourth quarter, Trimble said it expects revenue of $560 million – $580 million and EPS of $0.35 – $0.39. Analysts are expecting fourth quarter sales of $564.4 million and EPS of $0.35.

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