TRMB - Trimble Navigation Ltd., which makes navigation and surveying devices, on Thursday said its first-quarter profit rose 40 percent, helped by improved results from its field and mobile solutions segments. Net income increased to $40.1 million, or 32 cents per share, from $28.7 million, or 24 cents per share, a year ago. Excluding one time items, the company said it earned 40 cents per share in the quarter. Analysts surveyed by Thomson Financial expected more modest earnings of 35 cents per share. Revenue grew 24 percent to $355.3 million from $285.7 million in the year-ago period, and topped Wall Street's target of $338.7 million in sales. The company attributed the rise in revenue to strong growth in its field solutions segment, which saw sales soar about 73 percent. Higher sales from its mobile solutions business, which saw an increase of 47 percent, also boosted its results. The field solutions business provides manual and automated navigation guidance products for tractors and other farm equipment, while its mobile solutions segment provides devices for vehicles and mobile workers.
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