Here is another release with a little more info:
SUNNYVALE, Calif., July 10 /PRNewswire/ Trimble Navigation Limited
(Nasdaq: TRMB) today reported preliminary results for the second quarter ended
July 3, 1998.
Revenues for the second quarter of fiscal 1998 were approximately $76
million with earnings per share at approximately break even. This compares to
revenues of $69 million and earnings of $0.17 per share reported in the same
period last year. Revenues in the second quarter grew approximately 10% from
the prior year period but were affected by a $5 million delay in orders from
two major customers.
"Overall demand for GPS products in the Americas remains strong," stated
Charles R. Trimble, Chairman and Chief Executive Officer. "Two major partners
delayed orders in the second quarter that we now expect to ship in the second
half of the year."
Mr. Trimble added, "Operating expenses only rose slightly over the first
quarter, but were too high for the current revenue run rate. Manufacturing
expenses remain high for our Austin aerospace division and we will focus on
improving the operating model for this operation and the Company, overall."
The Company will report second quarter earnings on July 23, 1998.
To the extent that the matters discussed in this news release are forward-
looking statements, they involve risks and uncertainties detailed from time to
time in the Company's SEC reports, including Quarterly Reports on Form 10-Q and
the Annual Report on Form 10-K.
Trimble is a world leader in the emerging commercial markets for GPS
satellite-based navigation, positioning and communication data products. The
Company holds more U.S. patents on GPS and related technology than any other
organization. Trimble products are sold worldwide for diverse applications
including land and hydrographic surveying; mapping/GIS data acquisition;
military; agriculture; general, corporate and commercial aviation; marine
navigation; vehicle tracking and communications; and mobile GPS. The Company
also manufactures and sells GPS engines for the OEM market. Founded in 1978
and located in Sunnyvale, California, Trimble has been a leader in providing
GPS solutions since 1984. Company news and product information is available on
Trimble's World Wide Web site at trimble.com. |
