Trimble announced results for its fourth quarter and fiscal year 2004, ended Dec. 31, 2004. Revenue for the fourth quarter of fiscal 2004 was $162.7 million, up approximately 20 percent from revenue of $135.9 million for the fourth quarter of fiscal 2003. Revenue for fiscal 2004 was $668.8 million, up approximately 24 percent from revenue of $540.9 million reported in fiscal 2003.



Net income for the fourth quarter of fiscal 2004 was $16.4 million, or $0.29 per share. This compares to net income of $15.1 million, or $0.28 per share for the fourth quarter of fiscal 2003. Net income for fiscal 2004 was $67.7 million, up 76 percent from net income of $38.5 million in fiscal 2003. Earnings per share for fiscal 2004 were $1.23 per share, up approximately 60 percent from $0.77 per share for fiscal 2003.



"Throughout 2004, we reported strong revenue and earnings growth. The new products we introduced in late 2004 and early this year, position us well to continue our positive performance trends in 2005," said Steven W. Berglund, Trimble's president and chief executive officer. "In the near term, the increased traction provided by the new products, as well as a number of other strategic initiatives, should contribute to continuing revenue and earnings growth. In the longer term, we remain focused on expanding our position in current markets through aggressive innovation and market action, capturing emerging geographical markets, and establishing new product and market categories."

Trimble experienced growth in all of its reporting segments. Specifically:



Field Solutions (TFS) revenue in the fourth quarter grew by 24 percent compared to the fourth quarter of 2003, and by 32 percent for the full year. The largest contributor to TFS revenue growth was the AgGPS(R) EZ-Guide(R) Plus system, an agriculture manual guidance product that was introduced in early 2004.



Component Technologies (CT) revenue grew by 2 percent for the fourth quarter and for the full year, compared to the same periods in the prior fiscal year. In its last conference call, the Company projected that fourth quarter CT revenue would be flat to down based on a delay in the shipment of its TrimTrac(TM) locator. TrimTrac locators began shipping in January of 2005.



Mobile Solutions (TMS) revenue for the fourth quarter of fiscal 2004 was up 92 percent compared to the fourth quarter of fiscal 2003, and up 81 percent for the full year. TMS again saw strong sequential subscriber growth of approximately 40 percent over the third quarter of fiscal 2004. The segment continues to move toward its goal of profitability in the first half of fiscal 2005.



Source: Company Release