Trimble Q4 Profit Down

(RTTNews) - Trimble Inc. (TRMB) Wednesday reported fourth-quarter net income of $180.3 million or $0.71 per share, down from $279.3 million or $1.11 per share last year.

Adjusted earnings were $0.61 per share, up from $0.53 per share last year.

Total revenues grew to $829.7 million from $824.0 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.51 per share on revenues of $785.69 million for the quarter.

"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."

Looking forward to the full year 2021, Trimble expects revenue of $3.30 billion of $3.40 billion and adjusted earnings of $2.25 to $2.45 per share. Analysts currently estimate earnings of $2.27 per share and revenues of $3.11 billion.