Business
Trimble Reports Third Quarter 2020 Results
- Growth in annualized recurring revenue on a year-over-year basis - Growth in operating margin on a year-over-year basis SUNNYVALE, Calif., Nov. 4, 2020
About this update from Trimble Inc.
[{"type":"text","content":"- Growth in annualized recurring revenue on a year-over-year basis\n - Growth in operating margin on a year-over-year basis\n\n\nSUNNYVALE, Calif., Nov. 4, 2020 /PRNewswire/ -- Trimble Inc. (NASDAQ: TRMB) today announced financial results for the third quarter of 2020.\nThird Quarter 2020 Financial Highlights\nTrimble achieved GAAP revenue of $792.1 million, up 1 percent year over year, and non-GAAP revenue of $792.8 million, up 1 percent year over year Annualized recurring revenue (ARR) was $1.26 billion, up 10 percent year over year GAAP operating income was $102.0 million, and non-GAAP operating income was $191.8 million GAAP net income was $84.7 million and non-GAAP net income was $152.8 million Diluted earnings per share was $0.34 on a GAAP basis, and $0.60 on a non-GAAP basis Adjusted EBITDA of $212.5 million, 26.8 percent of revenue Operating cash flow on a trailing twelve months basis was $605.9 million, up 7 percent year over yearExecutive Quote\n\"Trimble is transforming the way the world works by delivering solutions that connect the physical and digital worlds,\" said Rob Painter, Trimble's president and chief executive officer. \"Our strong third quarter results demonstrate that Trimble technology is enabling customers to do their work more productively and sustainably. Despite a challenging macroeconomic environment, the Trimble financial model proved resilient and we will continue to focus on executing our Connect & Scale 2025 strategy.\"\nForward Looking Guidance\nTrimble's financial results for the remainder of 2020 will be impacted by continued global economic uncertainty due to the COVID-19 pandemic. As such, Trimble is not providing a financial outlook for the fourth quarter of 2020 at this time.\nInvestor Conference Call / Webcast Details\nTrimble will hold a conference call on November 4 at 2:00 p.m. PT to review its third quarter 2020 results. An accompanying slide presentation will be made available on the \"Investors\" section of the Trimble website, www.trimble.com, under the subheading \"Events & Presentations.\" The call will be broadcast live on the web at http://investor.trimble.com. Investors without internet access may dial into the call at (800) 528-9198 (U.S.) or (702) 928-6633 (international). The passcode is 9772188. The replay will also be available on the web at the address above.\nNotes\nA ...