To show a 2020 fiscal year drop of only 4% to revenue of US$3.1 billion and a net income of US$389.9 million was seen as a good overall result for Trimble.
Adjusted EBITDA was US$798.7 million, while operating cash flow was US$672 million, up 15% over the previous year.
The fourth quarter results for Trimble were strong, with revenue of US$829.7 million, up 1% year-over-year. Considering also the fourth quarter 2020 was a 13-week quarter and fourth quarter 2019 was a 14-week quarter.
Operating income for the fourth quarter was US$121.9 million, while net income was $180.3 million. Adjusted EBITDA was US$216.5 million.
“Our fourth quarter results exceeded expectations, enabling us to finish the year with solid financial performance,” said Rob Painter, Trimble’s president and chief executive officer.
“We experienced growth in annualized recurring revenue, adjusted EBITDA and operating cash flow. While we enter 2021 expecting ongoing market ambiguities, we enter with confidence and resolve to execute our Connect and Scale 2025 strategy.”
For the full year 2021, Trimble expects to report revenue between US$3,2 and US$3.3 billion.
