SUNNYVALE, Calif., Oct 24 (Reuters) - Trimble on Thursday posted a third-quarter profit from a year-ago loss, on falling revenue as demand for new products and an income tax provision offset issues including a distributor's bankruptcy.
The Sunnyvale, California-based maker of global positioning system components reported a third-quarter profit of $2.7 million, or 9 cents a share compared with a loss of $2.7 million, or 11 cents a share a year ago.
Trimble said the 2002 figures include a favorable tax provision of 3 cents to 4 cents a share and writing off $1.5 million due to the bankruptcy of a Japanese distributor, and the deferral of about $2.4 million in orders.
A late quarter surge in demand and the tax provision, helped offset the distributor bankruptcy and the shipping delay of one product, Trimble President and Chief Executive Steven Berglund said in a statement.