Dallas, Texas 11/05/2013 (Financialstrend) – The $1.38 billion market capped engineering, construction services and technical instruments manufacturer Trimble Navigation Limited (NASDAQ:TRMB) reported its third quarter earnings on October 31. Post the strong outlook the firm painted for its fourth quarter operations, the markets rallied after hours to post a 9% appreciation in its share price. This rally followed into the next day with the stock posting a 14% surge on the browsers during trading on November 1. During trading this week, the stock shed some of its last week’s gains to post a 2.1% dip in market value to close out the trading day on November 4 at $32.69.
In the 3Q which concluded on September 30, the company reported that its revenue from engineering & construction services went up by 8% with $310.6 million being registered under the header. Its mobile solutions division has posted the biggest growth in revenue compared to all other revenue streams at 35% in comparison to 3QFY12. It reported revenues of close to $113 million from mobile solutions. This has prompted the company to look at further growing its revenue from this stream over the next few quarters.
Commenting on the future prospects, company president and chief executive officer Steven Berglund has been quoted to have said “These indicators support our view that our organic growth will step up in 2014 from the levels we have seen in 2013″. Providing robust growth guidance over the next couple of quarters, the company has indicated that the continued demand for its GPS solutions by the agriculture, survey and construction industries will help maintain its sales and revenue momentum into the next year. For the fourth quarter which will end on December 31, the company hopes to bring in revenue in the region of $560 to $580 million which will translate to $0.35 to $0.39 earnings per share.