As announced on the Q4 results earnings call, Trimble’s Q4 revenue was $563.8 million, down 6% from the same time last year.
CEO Steve Berglund began the call by tempering expectations. “There were four unanticipated elements in the fourth quarter which affected our performance,” he said. “Exchange rates, the oil price decline, and acquisition revenue recognition effects had negative impacts on pre-tax results.” Despite other positive factors, the results landed on the lower end of Trimble’s guidance range.
Berglund was careful to explain that the results were not as disappointing as they might seem. In addition to seeing total revenue up 5% in 2014 and hitting $2.4 billion, Trimble predicts that the negative results at the end of 2014 will only carry through the first half of 2015. “The business outlooks were progressively improved during 2015,” he said with a relatively strong second half with double-digit revenue growth.”
One particularly bright spot was the Engineering and Construction segment of their business, with fourth quarter results down only 1% over last year and 2014 results up 10% over 2013 driven by growth in Trimble buildings, heavy civil, and geospatial.
Despite engineering software providers still feeling the effects of oil price decreases, the heavy construction segment continues to show solid growth.
Here are the collected revenue results from Trimble’s press release–
Fourth Quarter 2014
- Engineering and Construction: $328.5 million, down 1 percent.
- Field Solutions: $80.7 million, down 27 percent.
- Mobile Solutions: $124.1 million, down 1 percent.
- Advanced Devices: $30.5 million, down 2 percent.
- Engineering and Construction: $1.3 billion, up 10 percent.
- Field Solutions revenue: $422.1 million, down 11 percent.
- Mobile Solutions revenue: $486.8 million, up 5 percent.
- Advanced Devices revenue: $138.5 million, up 9 percent.