Trimble had a tough Q4, revenue down 6% y/y

Well, this is a bit of a shock after the mostly upbeat results we’ve been getting from engineering software companies: Trimble’s Q4 revenue was $564 million, down 6% and at the low end of the company’s guidance. Wall Street consensus was $579.4 million, so this is quite a bit below expectations. Full year 2014 revenue was $2.4 billion, up 5%. Lots to parse as the company reports on divisions, geos, currencies and whatall, but here’s what we know so far:

• Engineering and Construction revenue was $329 million, down 1%
• Field Solutions revenue was $81 million, down 27%
• Mobile Solutions revenue was $124 million, down 1%
• Advanced Devices revenue was $31 million, down 2%.

Foreign currency did affect topline results, with an unfavorable 2% impact. For 2014, total  revenue of $2,396 million included

• Engineering and Construction revenue of $1.3 billion, up 10%
• Field Solutions revenue of $422 million, down 11%
• Mobile Solutions revenue of $487 million, up 5 %, and
• Advanced Devices revenue of $139 million, up 9%.

CEO Steve Berglund said in the press release that Q4 results were affected by “a stronger dollar, deferred revenue accounting effects associated with new acquisitions, and the short term reaction to the decline in oil prices”. The company also gave guidance for Q1 2015: Trimble expects revenue to be between $590 million and $620 million. Details to come.