Turnaround underway for these GPS stocks

Article Excerpt

TRIMBLE NAVIGATION $30.25 (Nasdaq symbol TRMB; SI Rating: Speculative) (408-481-6914; www.trimble.com; Shares outstanding: 121.3 million; Market cap: $3.7 billion; No dividends paid) makes global positioning system (GPS) devices and technology for four main markets: 1) Engineering and construction accounts for the largest share (51%) of Trimble’s sales. 2) Agricultural GPS products (26% of sales) help farmers cut costs and increase yields. For example, GPS allows for more precise plowing, seeding and fertilizing, even at night. 3) Fleet products (14% of sales) track moving vehicles and time their stops and starts. 4) GPS components (9% of sales) consist of GPS boards, modules, chipsets and technology licences for major customers around the world. In the three months ended April 7, 2010, revenue rose 10.4%, to $319 million from $289 million (all figures in U.S. dollars). Excluding one-time items, earnings per share rose 21.4%, to $0.34 from $0.28. The company’s balance sheet remains strong: It holds cash of $307.1 million, or $2.53 a share. Its $151.1 million…