Trimble Inc (NASDAQ: TRMB) stock fell over 2% on 11th Feb, 2021 (as of 10:43 am GMT-5 ; Source: Google finance) after the company posted better than expected results for the fourth quarter of FY 20. The company reported Annualized recurring revenue (ARR) of $1.3 billion, up 9 percent year over year. The company posted the non-GAAP operating income was $196.7 million and delivered non-GAAP net income of $155.6 million. The company posted Adjusted EBITDA of $216.5 million, which reflects 26.1 percent of non-GAAP revenue. During fiscal 2020, the company generated Operating cash flow of $672.0 million, up 15 percent year over year.
TRMB in the fourth quarter of FY 20 has reported the adjusted earnings per share of 61 cents, beating the analysts’ estimates for the adjusted earnings per share of 52 cents, according to Zacks Investment Research. The company had reported flat adjusted revenue growth to $829.7 million in the fourth quarter of FY 20, beating the analysts’ estimates for revenue of $787.6 million.
Additionally, during fiscal 2020, Trimble repurchased approximately 1.9 million shares for $81.6 million. Approximately $90.7 million remains under the current share repurchase authorization as of the end of the fourth quarter.
Trimble expects full-year earnings to be in the range of $2.25 to $2.45 per share, with revenue expected to be in the range of $3.3 billion to $3.4 billion.
Meanwhile, the company has recently introduced the Trimble Roadworks 3D Paving Control Platform for Asphalt Pavers, which is the next-generation platform for 3D asphalt paving control systems. Trimble Roadworks is a highly accurate, automatic 3D screed control system that can significantly improve paving productivity and rideability by directly referencing the design rather than a surface or stringline to minimize asphalt usage, reduce waste and overruns and finish projects on time and under budget.
In addition, the company and ROBORACE, which is the world’s first autonomous racing series with electric-powered vehicles, which is a comprehensive technology and marketing alliance. As part of the alliance, ROBORACE will use Trimble’s Applanix POS LVX GNSS-inertial systems in its next-generation autonomous race cars for Season 1 of the championship, which begins in September 2021. As part of the technology and marketing alliance, the company will serve as the Official GNSS-Inertial Positioning Technology Partner and enable ROBORACE’s engineering team. Further, Trimble will use the ROBORACE’s media platform in its global marketing initiatives.