"The results for the second quarter reflect record revenue and margin performance," said Steven W. Berglund, Trimble's president and chief executive officer. "Almost all of the revenue growth was organic, which reflects generally improved market conditions outside of agriculture. Although we currently anticipate agriculture to remain a challenging market through the rest of the year, we expect our other markets will more than offset that effect. The construction industry, in particular, is accelerating adoption of our technology as the benefits become better understood."
Two additional items from Trimble's 2Q'14 press release.
1. Operating cash flow in the quarter was $131.2 million. Year-to-date operating cash flow was $214.6 million, an increase of 25 percent over the prior year.
2. Subsequent to the end of the second quarter, Trimble repurchased shares pursuant to a Rule 10b-5(1) plan under its open $100 million authorization. As of close of trading August 4, the company has repurchased approximately 1.37 million shares for a total amount of $43.2 million.
TRMB closed yesterday (02014.08.05) at $31.23. 52-week range: $24.90 - $40.17.
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