If you just want to drop off the last character of each string, you could use this:
<?php
$str = 'N040.00.28.1644 W082.53.38.0000';
$arr = explode("\x20", $str);
$arr[0] = substr($arr[0], 0, strlen($arr[0])-1);
$arr[1] = substr($arr[1], 0, strlen($arr[1])-1);
$str = implode("\x20", $arr);
?>
or
<?php
$str = 'N040.00.28.1644 W082.53.38.0000';
$arr = explode("\x20", $str);
foreach($arr as $key => $val)
$arr[$key] = substr($val, 0, strlen($val)-1);
$str = implode("\x20", $arr);
?>