Trimble Navigation Limited
935 Stewart Drive
Post Office Box 3642
Sunnyvale, CA 94085
SUNNYVALE, Calif., March 30, 1999 -- Trimble (NASDAQ:TRMB) today announced preliminary results that are above analyst estimates for the first fiscal quarter ending April 3, 1999. Revenue for the first quarter is anticipated to be in excess of $65 million, an increase of approximately 12% over revenues from the immediately preceding fourth quarter of fiscal 1998. Earnings per share for the first quarter is expected to be approximately $0.01 to $0.04 per share. Trimble will announce complete financial results for the first quarter on April 21, 1999 at the close of market.
"I am pleased that we expect to report improving financial results this quarter," stated Steve Berglund, president and CEO. "We are seeing increased customer demand in our agriculture, satellite communications, automotive, and geographic information systems & mapping business segments. Additionally, Trimble was able to manufacture more products than previously anticipated due to increased efficiencies. We also reduced our operating expenses during the quarter, largely as a result of actions taken during the preceding two quarters."
Trimble is a world leader in designing and developing innovative products enabled by GPS technology. The Company provides end-user and OEM solutions for diverse applications including surveying, mapping/GIS, agriculture, mining, military, commercial aviation, automotive, vehicle tracking and timing. Founded in 1978, Trimble now holds more than 200 U.S. patents on GPS and related technology, with over 180 additional patents pending. Located in Sunnyvale, Calif., Trimble has been adding value to GPS since 1984.
Media Contact: Investor Relations of Trimble: 408-481-6914