Trimble Announces Record Second Quarter 2021 Results

(D)  Acquisition / divestiture items.  Included in our GAAP presentation of cost of sales and operating expenses are acquisition costs comprised of external and incremental costs resulting directly from merger and acquisition and strategic investment activities such as legal, due diligence, integration, and other closing costs including the acceleration of acquisition stock options and adjustments to the fair value of earn-out liabilities.  Included in our GAAP presentation of non-operating expense, net, acquisition/divestiture items includes unusual acquisition, investment, and/or divestiture gains/losses. Although we do numerous acquisitions, the costs that have been excluded from the non-GAAP measures are costs specific to particular acquisitions.  These are one-time costs that vary significantly in amount and timing and are not indicative of our core operating performance.

(E)  Stock-based compensation / deferred compensation.  Included in our GAAP presentation of cost of sales and operating expenses are stock-based compensation consists of expenses for employee stock options and awards and purchase rights under our employee stock purchase plan.  Additionally, included in our GAAP presentation of cost of sales and operating expenses are income or expense associated with movement in our non-qualified deferred compensation plan liabilities.  Changes in non-qualified deferred compensation plan assets, included in non-operating expense, net, offset the income or expense in the plan liabilities.  We exclude them from our non-GAAP measures because some investors may view it as not reflective of our core operating performance as they are a non-cash item. 

(F)  Restructuring and other costs.  Included in our GAAP presentation of cost of sales and operating expenses are restructuring and other exit costs comprised of termination benefits related to reductions in employee headcount, including executive severance agreements, the closure or exit of facilities, and cancellation of certain contracts.  In addition, other costs include COVID-19 expenses incurred as a direct impact from the COVID-19 virus pandemic, such as cancellation fees of trade shows due to public safety issues, additional costs for disinfecting facilities, and personal protective equipment.  We exclude restructuring and other exit costs and COVID-19 expenses from our non-GAAP measures because we believe they do not reflect expected future operating expenses, they are not indicative of our core operating performance, and they are not meaningful in comparison to our past operating performance.  Furthermore, these costs can vary significantly, thus exclusion from our non-GAAP results is useful to investors because it allows for period-over-period comparability. 

(G)  Non-GAAP items tax effected.  This amount adjusts the provision for income taxes to reflect the effect of the non-GAAP items (A) - (F) on non-GAAP net income.  We believe this information is useful to investors because it provides for consistent treatment of the excluded items in this non-GAAP presentation. 

(H)  Difference in GAAP and Non-GAAP tax rate.  This amount represents the difference between the GAAP and non-GAAP tax rates applied to the non-GAAP operating income plus the non-GAAP non-operating expense, net. The non-GAAP tax rate excludes charges and benefits such as net deferred tax impacts resulting from a non-U.S. intercompany transfer of intellectual property and significant one-time reserve releases upon statute of limitations expirations.  We believe that investors benefit from excluding this amount from our non-GAAP income tax provision because it facilitates a comparison of the non-GAAP tax provision in the current and prior periods. 

(I)  GAAP and non-GAAP tax rate percentages.  These percentages are defined as GAAP income tax provision as a percentage of GAAP income before taxes and non-GAAP income tax provision as a percentage of non-GAAP income before taxes.  We believe that investors benefit from a presentation of non-GAAP tax rate percentage as a way of facilitating a comparison to non-GAAP tax rates in prior periods.

OTHER KEY METRICS

Annualized Recurring Revenue 

In addition to providing non-GAAP financial measures, Trimble provides an ARR performance measure in order to provide investors with a supplementary indicator of the value of the Company's current recurring revenue contracts. ARR represents the estimated annualized value of recurring revenue, including subscription, maintenance and software revenue, and term license contracts for the quarter.  ARR is calculated by adding the portion of the contract value of all of our term licenses attributable to the current quarter to our non-GAAP recurring revenue for the current quarter and dividing that sum by the number of days in the quarter and then multiplying that quotient by 365. ARR should be viewed independently of revenue and deferred revenue as it is a performance measure and is not intended to be combined with or to replace either of those items.

Cision View original content: https://www.prnewswire.com/news-releases/trimble-announces-record-second-quarter-2021-results-301348615.html

SOURCE Trimble

Contact:
Company Name: Trimble
Michael Leyba, Investor Relations, 415-309-3127
Email Contact Lea Ann McNabb, Media, 408-481-7808
Email Contact
Web: http://www.trimble.com
Financial data for Trimble



« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7             



Review Article Be the first to review this article
Featured Video
Latest Blog Posts
Dr. Biplab SarkarVectorworks Blog
by Dr. Biplab Sarkar
See How You Can Design Without Limits With Vectorworks
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
Two Outstanding News Items from Sept’s U.S. and Canadian Jobs Reports
Jobs
ASIC Architects and Hardware Engineers at D. E. Shaw Research for D. E. Shaw Research at New York, New York
Senior Highway Engineer for RS&H at Jacksonville, Florida
Geographic Information System Developer for City of Ithaca at ithaca, New York
Director, Industrial Machinery Solutions- SISW PLM for Siemens AG at Livonia, Michigan
Product Design Engineer - Softgoods for Apple Inc at Cupertino, California
Upcoming Events
Built Environment Summit: 1.5°C Climate Actions at London United Kingdom - Oct 27 - 29, 2021
ASEAN Super 8 2021 at Kuala Lumpur. Malaysia - Nov 9 - 11, 2021
Resilient and Responsible Architecture and Urbanism (RRAU) Conference 2021 at Jalan Sunsuria, Bandar Sunsuria, 43900 Sepang, Selangor Darul Ehsan, Malaysia kuala lumpur Malaysia - Nov 16 - 18, 2021
Digital Construction Week at ExCeL London. United Kingdom - Nov 24 - 25, 2021



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise