Trimble delivers advanced location-based software solutions that integrate technologies such as GPS with application software, and wireless communications.
Infrastructure investments are a key component of the economic recovery as reviving an aging infrastructure can create thousands of jobs. Additionally, infrastructure investments play a crucial role in reaching sustainable targets. Trimble provides innovative technologies to complete these projects cost-effectively and efficiently. Trimble’s solutions can reduce greenhouse gases in a range of industries including construction, agriculture and transportation and help protecting and managing critical water assets as well as minimizing scrap and waste in the construction business.
In November 2017, Trimble’s Board of Directors approved a stock repurchase program, authorizing to repurchase up to $600 million of common stock. Under this program the company repurchased 1.9 million shares during fiscal 2020. Total revenue decreased by $116.6 million or 4% to $1,828 million, due to weakness in Transportation. The decrease was partially offset by organic and acquisitions growth in Resources and Utilities. The company reported a gross margin of 55.8% in 2020 compared to 54.6% in 2019. Furthermore, operating income margin was 13.3%. Despite the revenue shortfall, operating income increased by 12% or $43.9 million due to strong results in Buildings and Infrastructure.
Trimble’s sustainability efforts provide business solutions that help create a positive impact on the environment. The stock price rallied more than 150% within a year.