SUNNYVALE, Calif., Oct. 30, 2019 — Trimble Inc. (NASDAQ: TRMB) announced third quarter 2019 GAAP revenue of $783.9 million, down 1% compared to the third quarter of 2018. Third quarter 2019 non-GAAP revenue of $784.3 million was down 3% vs. the same period of 2018.
Buildings and Infrastructure revenue was $309.8 million, up 5%. Geospatial revenue was $155.1 million, down 16%. Resources and Utilities revenue (includes ag segment) was $121.1 million, down 9%. Transportation revenue was $198.3 million, up 4%. Segment revenues reflect the results of Trimble's reportable segments under its management reporting system and are non-GAAP measures.
GAAP operating income was $91.7 million, up 18% as compared to the third quarter of 2018. GAAP operating margin was 11.7% of revenue compared to 9.7% of revenue in the third quarter of previous year. GAAP net income was $78.1 million, up 6% vs. the third quarter of 2018.
Non-GAAP operating income of $162 million was down 3% compared to the third quarter of 2018. Non-GAAP operating margin was 20.7% of revenue vs. 20.8% in the third quarter of 2018.
Non-GAAP net income of $121.1 million was down 3% compared to the third quarter of 2018.
"Our third quarter revenue reflected prevailing market uncertainties, while earnings per share and cashflow exceeded expectations," said Steven W. Berglund, Trimble's president and chief executive officer. "Although we anticipate market ambiguities to persist for the remainder of the year, we demonstrated the ability to control costs while continuing the transformation of our business model toward recurring revenue."