Sunnyvale, Calif. — Trimble has announced financial results for the first quarter of 2020.
First quarter 2020 GAAP revenue of $792.3 million was down 1% as compared to the first quarter of 2019.
Buildings and Infrastructure revenue was $296.9 million, up 1%. Geospatial revenue was $146.2 million, down 9%. Resources and Utilities revenue was $180.3 million, up 13%. Transportation revenue was $170.6 million, down 10%.
GAAP operating income was $98.3 million, up 14% as compared to the first quarter of 2019. GAAP operating margin was 12.4% of revenue as compared to 10.8% of revenue in the first quarter of 2019.
GAAP net income was $61.9 million, down 1% as compared to the first quarter of 2019.
"During these unprecedented times, the health and safety of our employees, dealers, partners, and customers is our first priority," said Rob Painter, Trimble's president and chief executive officer. "Our businesses remain essential, and we have taken decisive action to ensure safe working environments and to enhance our financial position, which will enable us to stay focused on our Connect & Scale 2025 strategy."
Forward Looking Guidance
Trimble's financial results for the remainder of 2020 will be impacted by continued global economic uncertainty due to the COVID-19 pandemic. As such, Trimble is not providing a financial outlook for the second quarter of 2020 or the remainder of 2020 at this time.