SUNNYVALE, Calif. (AP) _ Trimble Navigation Ltd. (TRMB) on Wednesday reported fourth-quarter profit of $180.3 million.
On a per-share basis, the Sunnyvale, California-based company said it had profit of 71 cents. Earnings, adjusted for one-time gains and costs, came to 61 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The GPS manufacturer posted revenue of $829.7 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $787.6 million.
For the year, the company reported profit of $389.9 million, or $1.55 per share. Revenue was reported as $3.15 billion.
Trimble expects full-year earnings in the range of $2.25 to $2.45 per share, with revenue in the range of $3.3 billion to $3.4 billion.
Trimble shares have risen 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $73.99, an increase of 69% in the last 12 months.