SUNNYVALE, Calif. (AP) _ Trimble Navigation Ltd. (TRMB) on Wednesday reported first-quarter earnings of $62.3 million.
On a per-share basis, the Sunnyvale, California-based company said it had profit of 25 cents. Earnings, adjusted for one-time gains and costs, came to 45 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The GPS manufacturer posted revenue of $801.6 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $806.8 million.
For the current quarter ending in July, Trimble expects its per-share earnings to range from 52 cents to 56 cents.
The company said it expects revenue in the range of $849 million to $879 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $867.9 million.
Trimble shares have risen 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $40.46, a climb of 17% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TRMB at https://www.zacks.com/ap/TRMB