Margins also continued to improve a non-GAAP operating margins for above 20% for the second consecutive quarter. We currently expect year-to-year revenue growth in the third quarter of around 19%, while the nominal growth rate is lower than the first half rate because of acquisition effects. We generally expect underlying performance to remain consistent with the first half. This expectation is based on two assumptions, one is that the euro centered crisis remains relatively contained to Europe and does not transform into a major macroeconomic contingent scenario. And the others that uncertainty related to the euro and the U.S. election doesn’t freeze investment decision makers into activity as they await greater clarity.Our markets remain workable although the other states robustness are variable across product categories and across regions. Engineering and construction performance is currently being driven by heavy highway products which are demonstration strong growth as adoption rates of technology accelerate. Commercial and residential construction is not a meaningful source of growth although the picture on future prospects seems to be gradually brightening in North America.
Trimble Navigation CEO Discusses Q2 2012 Results - Earnings Call Transcript
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