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Trimble Announces Fourth Quarter and Fiscal Year End Results Earnings per Share of $0.25 for Fourth Quarter 1999SUNNYVALE, Calif., Jan. 26, 2000 -Trimble (Nasdaq: TRMB) today reported results for the fourth quarter and fiscal year ended December 31, 1999, for continuing operations.Revenue for the fourth quarter of fiscal 1999 was $62,119,000 for continuing operations, compared to revenue of $60,653,000, for continuing operations, reported in the corresponding period in 1998. Net income for the fourth quarter, from continuing operations, was $5,868,000 or $0.25 per share, diluted, compared with a net loss from continuing o perations of ($17,713,000) or ($0.80) per share, diluted, in the fourth quarter 1998. The fiscal 1999 fourth quarter earnings per share include a full year adjustment to reduce the Company's income tax rate, resulting in a benefit of approximately $0.05 per share. For the fiscal year ending December 31, 1999, revenue was $271,364,000 from continuing operations, as compared to revenue from continuing operations of $268,323,000 for the full year of 1998. Net income for the fiscal year 1999 was $18,662,000, or $0.82 per share, diluted, from continuing operations, versus a net loss of ($27,355,000) or ($1.22), diluted, from continuing operations, for the previous full year period. Steven W. Berglund, president and CEO commented, "Although bookings and backlog were consistent with expectations, sales during the quarter were affected by shortages of component parts in the supply chain." Additionally, transitional issues related to outsourcing our manufacturing to Solectron, including the physical move of some of Trimble's manufacturing facilities, were more difficult than anticipated. The reasons for the shortfall are being aggressively addressed by Trimble's and Solectron's management. "We are pleased to report a year of solid return to profitability," continued Mr. Berglund." The steps taken in 1999, including outsourcing our manufacturing to Solectron and continued focus on control of operating expenses, have clearly produced an improvement on bottom line results." This release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. Other potential risks and uncertainties that could cause actual results to differ materially are included in the SEC filings, including Form 10-K and Form 10-Q for Trimble. About Trimble 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, construction, 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. www.trimble.com
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