Trimble 2Q Outlook Below Analysts' Forecasts

SUNNYVALE, Calif. (AP) — Trimble Navigation Ltd., which makes global-positioning systems for commercial and government users, gave a second-quarter outlook on Tuesday that fell below Wall Street expectations.

Trimble said the weak global economy has hurt its engineering and construction business, and first-quarter revenue fell nearly 19 percent.

The company said it expects second-quarter net income of 21 cents per share, or 32 cents per share after excluding special items such as amortization of acquisition-related intangibles and stock-based compensation expense.

Analysts, who usually exclude items, expected the company to earn 35 cents per share in the second quarter, according to a survey by Thomson Reuters.

Sunnyvale-based Trimble also said it expected second-quarter revenue of $300 million, plus or minus 5 percent. At a top range of $315 million, that would be less than analysts expect, $320.3 million.

On Tuesday, the company reported that first-quarter earnings fell to $17.5 million, or 14 cents per share, compared with $40.1 million, or 32 cents per share, a year earlier.

Excluding items, the company said it would have earned $33.7 million, or 28 cents per share. Analysts were expecting 26 cents per share.

Shares fell $1.04, or 5.2 percent, to $18.94 in regular trading, then lost another 24 cents to $18.70 in extended trading.