TRIMBLE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Six Months Ended Jul-3, Jun-27, 2009 2008 ---- ---- Cash flow from operating activities: Net Income $38,847 $88,666 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense 9,071 9,274 Amortization expense 25,348 21,811 Provision for doubtful accounts 3,053 119 Amortization of debt issuance cost 113 113 Deferred income taxes (3,406) (2,791) Stock-based compensation 8,780 7,777 Equity gain from joint ventures (520) (4,633) Gain on bargain purchase (386) - Excess tax benefit for stock-based compensation (304) (5,249) Provision for excess and obsolete inventories 2,933 3,283 Other non-cash items (2,360) 1 Add decrease (increase) in assets: Accounts receivables 4,117 (26,832) Other receivables 5,242 481 Inventories (7,556) (8,997) Other current and non-current assets 2,289 (464) Add increase (decrease) in liabilities: Accounts payable 4,790 4,637 Accrued compensation and benefits 2,808 (303) Accrued liabilities 8,591 (597) Deferred revenue 7,224 3,974 Income taxes payable - 10,093 ------ ------ Net cash provided by operating activities 108,674 100,363 ------- ------- Cash flow from investing activities: Acquisitions of businesses, net of cash acquired (39,029) (45,082) Acquisition of property and equipment (7,415) (7,932) Acquisitions of intangible assets (26,839) (165) Other (513) 302 ---- --- Net cash used in investing activities (73,796) (52,877) ------- ------- Cash flow from financing activities: Issuance of common stock 5,775 15,425 Excess tax benefit for stock-based compensation 304 5,249 Repurchase and retirement of common stock - (36,293) Payments on long-term debt and revolving credit lines (149) (60,314) ---- ------- Net cash provided by (used in) financing activities 5,930 (75,933) ----- ------- Effect of exchange rate changes on cash and cash equivalents 1,815 5,068 ----- ----- Net decrease in cash and cash equivalents 42,623 (23,379) Cash and cash equivalents - beginning of period 147,531 103,202 ------- ------- Cash and cash equivalents - end of period $190,154 $79,823 ======== =======
Trimble Reports Second Quarter 2009 Revenue of $290.1 Million and Non-GAAP Earnings Per Share of $0.31
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