Sunnyvale, Calif. — Trimble has announced its fourth quarter and fiscal year 2019 financial results. Fourth quarter 2019 GAAP revenue of $824 million was up 4.9% as compared to the fourth quarter of 2018.
In the fourth quarter 2019, Buildings and Infrastructure GAAP revenue was $313.6 million, up 12%. Geospatial revenue was $168.7 million, down 5.6%. Resources and Utilities revenue was $135.6 million, up 4.4%. Transportation revenue was $206.1 million, up 4.7%.
GAAP operating income was $88.2 million in the fourth quarter 2019, down 2% as compared to the fourth quarter of 2018. GAAP operating margin was 10.7% of revenue as compared to 11.4% of revenue in the fourth quarter of 2018.
Fiscal 2019 Financial Summary
Fiscal 2019 GAAP revenue of $3,264.3 million was up 5% as compared to fiscal 2018.
Buildings and Infrastructure GAAP revenue was $1,254.2 million, up 17.7%. Geospatial revenue was $649.4 million, down 10.2%. Resources and Utilities revenue was $568.4 million, up 0.2%. Transportation revenue was $792.3 million, up 5.3%.
GAAP operating income was $375.9 million, up 17% as compared to fiscal 2018. GAAP operating margin was 11.5% of revenue as compared to 10.3% of revenue in fiscal 2018.
Heading into 2020
Senior Vice President and CFO David G. Barnes mentioned both coronavirus and the U.S./China trade deal when looking into the new year. “The agricultural market remains challenged, and we do not believe that the Phase one trade deal will have a meaningful positive impact on our agricultural business in 2020,” said Barnes. “We are actively monitoring the potential impact coronavirus could have. Our business with customers in China represents about 2% of Trimble revenue, and this business will be heavily impacted in 1Q20.” For the first quarter of 2020, Trimble expects to report GAAP revenue between $778 million and $808 million.
For a list of all ag equipment manufacturer announcements pertaining to the COVID-19 pandemic, click here.
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