Trimble reported its first quarter 2019 GAAP revenue of $801.6 million was up 8% vs. the first quarter of 2018. Resources and Utilities revenues, which include the company’s ag activities, was $159.5 million, flat on a year-over-year basis.
Buildings and Infrastructure revenue was $294.7 million, up 30%. Geospatial revenue was $161.2 million, down 8%. Transportation revenue was $189.1 million, up 3%. Segment revenues reflect the results of Trimble's reportable segments under its management reporting system and are non-GAAP measures.
GAAP operating income was $86.3 million, up 34% as compared to the first quarter of 2018. GAAP operating margin was 10.8% of revenue as compared to 8.6% of revenue in the first quarter of 2018. GAAP net income was $62.3 million, up 6% as compared to the first quarter of 2018.
Trimble 1Q18 — Selected Financial Information
($000s)
|
First Quarter 2019 |
First Quarter 2018 |
|
| Revenue | ||
|
Product |
$488.4 | $497.8 |
|
Service |
$159.2 | $128.8 |
|
Subscription |
$154.0 | $115.6 |
| Total revenue | $801.6 | $742.2 |
| Cost of Sales | ||
|
Product |
$230.7 | $235.4 |
|
Service |
$64.0 | $59.6 |
|
Subscription |
$44.4 | $27.9 |
|
Amortization of purchased |
$24.2 | $23.1 |
| Total cost of sales | $363.3 | $346.0 |
| Gross margin | $438.3 | $396.2 |
| Gross margin (%) | 54.7% | 53.4% |
| Net income | $62.4 | $58.7 |
