Trimble Navigation Ltd., the parent of several major trucking-technology companies, reported higher first-quarter profit as revenue grew from a year ago.
The company said net income rose to $68.6 million, or 26 cents per share, from $49.8 million, or 19 cents. Revenue climbed 9% to $604.7 million.
Operating income at Trimble’s Mobile Solutions segment, which includes PeopleNet Communications Corp., TMW Systems Inc. and ALK Technologies Inc., increased to $16.2 million from $11.6 million.
The unit’s revenue rose 8% to $118.6 million, primarily due to “double-digit” growth in sales of its transportation and logistics offerings, Trimble said.
On the company’s May 6 earnings call, CEO Steven Berglund said he expects growth to continue in Trimble’s transportation and logistics division, which accounts for about 75% of the Mobile Solutions segment.
Berglund said Trimble is investing in its mobile and enterprise products this year to “better tie those elements together.”
“I think 2015 is going to be the year that receives the benefits of that investment,” he added.
Trimble said it expects second-quarter revenue to be between $605 million and $630 million and earnings per share of 22 cents to 26 cents.
