Trimble Inc.
Jan 25, 2007

Trimble Reports Fourth Quarter Revenue Growth of 25 Percent and Fiscal 2006 Revenue Growth of 21 Percent; Announces Two-for-One Stock Split

SUNNYVALE, Calif., Jan 25, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Trimble (Nasdaq: TRMB) today announced results for its fourth quarter and fiscal year 2006, ended December 29, 2006. Revenue for the fourth quarter of 2006 was $234.1 million, up 25 percent from revenue of $186.8 million in the fourth quarter of 2005. Fiscal 2006 revenue was $940.2 million, up 21 percent when compared to fiscal 2005 revenue of $774.9 million.

Operating income for the fourth quarter of 2006 was $27.3 million, up 19 percent from the fourth quarter of 2005. Operating income for fiscal 2006 was $135.4 million, up 8 percent from fiscal 2005. For year-over-year comparisons it should be noted that the impact of stock-based compensation expense resulting from the adoption of FAS 123(R) was $3.1 million in the fourth quarter of 2006 and $12.6 million for fiscal 2006. The net impact of transactions with the Caterpillar Trimble Control Technologies (CTCT) joint venture, which were included in non-operating results in 2005, reduced operating results by $3.1 million in the quarter and by $18.2 million for the year. In addition, amortization of purchased intangibles and purchased in-process research and development expense increased by $2.4 million in the fourth quarter of 2006 compared to the fourth quarter of 2005 and by $7.0 million for fiscal 2006 compared to fiscal 2005, due to acquisitions. Adjusting for the above factors, operating income in the fourth quarter of 2006 was up 51 percent compared to the fourth quarter of 2005 and up 36 percent for fiscal 2006, compared to fiscal 2005.

Net income for the fourth quarter of 2006 was $24.0 million, up 3 percent when compared to net income of $23.4 million in the fourth quarter of 2005. Net income for fiscal 2006 was $103.7 million, up 22 percent compared to fiscal 2005. Earnings per share for the fourth quarter of 2006 were $0.41, flat compared to earnings per share of $0.41 in the fourth quarter of 2005. Earnings per share for fiscal 2006 were $1.79, up approximately 20 percent compared to fiscal 2005. Earnings per share in the fourth quarter of 2006 were negatively impacted by approximately $0.04 due to the adoption of FAS 123(R) and by approximately $0.06 due to higher amortization of intangibles and in-process research and development. Earnings per share for fiscal 2006 were negatively impacted by $0.15 due to FAS 123(R) and by $0.18 due to higher amortization of intangibles and purchased in-process research and development expense. It should also be noted that net income in the fourth quarter of 2005 was favorably impacted by the recognition of a deferred gain of $9.3 million related to the CTCT joint venture.

Adjusting for the impact of FAS 123(R) and acquisition-related expenses, non-GAAP net income for the fourth quarter of 2006 was $30.1 million, up 85 percent compared to non-GAAP net income of $16.2 million in the fourth quarter of fiscal 2005. Using the same adjustments, non-GAAP net income for fiscal 2006 was $123.0 million, up 51 percent compared to fiscal 2005. Non-GAAP net income in the fourth quarter of 2006 benefited from a lower tax rate of 25 percent driven by a research and development tax credit and the favorable resolution of an international tax audit.

Non-GAAP earnings per share for the fourth quarter of 2006 were $0.51, up approximately 77 percent from non-GAAP earnings per share of $0.29 in the fourth quarter of 2005. Non-GAAP earnings per share for fiscal 2006 were $2.12, up approximately 48 percent compared to fiscal 2005. GAAP and non-GAAP earnings per share for the fourth quarter and fiscal 2006 were calculated on a diluted basis using approximately 58.6 million shares and 58 million shares, respectively.

"Trimble's growth in 2006 demonstrated successful execution across our segments, particularly in Engineering and Construction and Mobile Solutions. It is encouraging to see our strategic focus on Mobile Solutions beginning to have a significant impact on results," said Steven W. Berglund, Trimble's president and chief executive officer. "Early in 2007 it appears market conditions remain steady. Our 2007 results will be determined by our success with initiatives to further penetrate our markets, integrate acquisitions, and establish new standards of customer satisfaction."

Trimble Results by Business Segment

For year-over-year comparisons it should be noted that 2005 results did not include stock-based compensation expense because FAS 123(R) was not adopted until the first quarter of 2006.

Engineering and Construction

Revenue for Engineering and Construction (E&C) was $160.0 million for the fourth quarter of 2006, up approximately 24 percent compared to the fourth quarter of 2005. Fiscal 2006 revenue for E&C was $637.1 million up approximately 21 percent compared to fiscal 2005.

Operating income margins in E&C were 20 percent in the fourth quarter of 2006, compared to 19 percent in the fourth quarter of 2005. Operating income margins for fiscal 2006 were 21 percent, compared to 22 percent in fiscal 2005. Excluding the impact of FAS 123(R) adoption and the CTCT joint venture transactions discussed above, E&C operating income margins were 23 percent for the fourth quarter and 25 percent for fiscal 2006.

E&C continued to grow throughout 2006 due to successful market segmentation, a steady construction spending environment, and the increasing demand for productivity-enhancing technology.

Field Solutions

Field Solutions (TFS) revenue was $30.6 million in the fourth quarter of 2006, up 21 percent compared to the fourth quarter of 2005. GIS sales in the quarter were particularly strong. TFS revenue for fiscal 2006 was $139.2 million, up 9 percent year-over-year.

TFS operating income margins for the fourth quarter of 2006 were 21 percent, compared to 20 percent in the fourth quarter of 2005. TFS operating income margins for fiscal 2006 were 27 percent, compared to 25 percent in fiscal 2005. Excluding the impact of FAS 123(R) adoption TFS operating income margins were 22 percent for the fourth quarter and 28 percent for fiscal 2006.

Mobile Solutions

Mobile Solutions (TMS) fourth quarter 2006 revenue was $17.0 million, up 63 percent from the fourth quarter of 2005. TMS revenue for fiscal 2006 was $60.9 million, up 93 percent from fiscal 2005. Growth in TMS for 2006 came from increased growth in subscribers and software seats, as well as from acquisitions.

TMS operating income margins were 5 percent for the fourth quarter of 2006, compared to 2 percent in the fourth quarter of 2005. TMS operating income margins for fiscal 2006 were 4 percent, compared to a loss of 10 percent in 2005. Excluding the impact of FAS 123(R) adoption TMS operating income margins were 6 percent for the fourth quarter and 5 percent for fiscal 2006. Improvements in operating income margins were due to increases in higher gross margin subscription revenue.

Advanced Devices

Advanced Devices revenue was $26.5 million, up 20 percent from the fourth quarter of 2005. Advanced Devices revenue for fiscal 2006 was $103.0 million, up 13 percent from fiscal 2005 revenue, primarily due to increased sales in embedded and airborne products and revenue from the licensing of intellectual property to Nokia.

Advanced Devices operating income margins for the fourth quarter of 2006 were 5 percent, compared to 11 percent in the fourth quarter of 2005. Advanced Devices operating income margins for fiscal 2006 were 10 percent, compared to 14 percent in fiscal 2005. Excluding the impact of FAS 123(R) adoption Advanced Devices operating income margins were 7 percent for the fourth quarter and 12 percent for fiscal 2006. Declines in operating income margins for the quarter and the fiscal year were due to product mix and increased development costs.

Two-for-One Stock Split

On January 17, 2007, Trimble's Board of Directors approved a two-for-one split of all outstanding shares of the Company's Common stock, payable February 22, 2007, to stockholders of record on February 8, 2007. Stockholders who receive shares in the acquisition of @Road will have their shares adjusted to reflect the stock split. Earnings per share numbers detailed in this press release do not reflect the stock split.

Non-GAAP vs. GAAP Financials

The Company provides non-GAAP financial measures including "non-GAAP net income," "non-GAAP operating income," and "non-GAAP earnings per share" to supplement its consolidated financial statements presented in accordance with GAAP. These non-GAAP financial measures are intended to supplement the user's overall understanding of the Company's current financial performance and its prospects for the future. In many cases, non-GAAP financial measures are used by analysts and investors to evaluate the Company.

The Company excludes the amortization of purchased intangibles, in-process research and development, restructuring charges, acquisition related step-up charges, write-off of debt issuance costs, and the impact of stock-based compensation in computing non-GAAP measures because the chief executive officer excludes these items when budgeting and evaluating the business and in some cases were applicable to both periods because of acquisitions or accounting change rules. These non-GAAP financial measures are not intended to supersede or replace the Company's GAAP results. Please see the supplemental financial statements, attached to this press release, for a reconciliation of GAAP to non-GAAP results.

Forward Looking Guidance

GAAP guidance for the first quarter of 2007 does not include the impact of the anticipated acquisition of @Road announced on December 11, 2006, which is expected to close in February of 2007.

In the first quarter of 2007, the Company expects revenue to grow 16 to 18 percent compared to the first quarter of 2006, with revenue between $262 million and $267 million. At a 36 percent tax rate, with approximately 59.0 million shares outstanding, the Company expects first quarter 2007 GAAP earnings per share between $0.45 and $0.48.

The above GAAP guidance includes stock-based compensation. On a post-tax basis, the Company expects stock-based compensation for the first quarter of 2007 to be approximately $0.03 per share.

The Company expects non-GAAP earnings per share between $0.54 and $0.57 in the first quarter of 2007. Non-GAAP guidance for the first quarter of 2007 uses a 36 percent tax rate and excludes the amortization of intangibles of $5.1 million in the quarter, as well as the anticipated impact of stock-based compensation expense of $3.3 million. For year-over-year comparisons, it should be noted that the tax rate in the first quarter of 2006 was 28 percent and is forecasted to be 36 percent for the first quarter of 2007. It should also be noted that first quarter 2007 guidance includes the expected impact of deferred revenue write downs for acquisitions made in the fourth quarter of 2006.

As guided in the @Road announcement in December 2006, Trimble currently expects total 2007 company revenue between $1,140 million and $1,170 million, assuming a February 2007 close of the @Road acquisition. Of this amount, approximately $80 million to $85 million in revenue is expected to come from the acquisition of @Road.

Trimble expects full-year 2007 non-GAAP earnings per share of between $2.10 and $2.15. Trimble's baseline outlook for the company, excluding the @Road acquisition, is between $2.30 and $2.35 non-GAAP earnings per share. The @Road transaction is expected to be single-digit dilutive in 2007 on a percent basis due to interest payments on debt, an assumed higher share count and the deferred revenue write down, partially offset by synergy savings and improved business profitability. Trimble will update its total company guidance for 2007 in detail, including the impact from @Road, on its April 2007 conference call.

Investor Conference Call / Webcast Details

Trimble will hold a conference call on January 25, 2007 at 1:30 p.m. PT to review its fourth quarter and fiscal 2006 results. It will be broadcast live on the Web at http://investor.trimble.com. Investors without Internet access may dial into the call at (800) 528-9198 (U.S.) or (706) 634-6089 (international). A replay of the call will be available for thirty days beginning at 8:00 p.m. PT on January 25, 2007. The replay number is (800) 642-1687 (U.S.), or (706) 645-9291 (international), and the pass code is 5782391.

About Trimble

Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978 and headquartered in Sunnyvale, Calif., Trimble has a worldwide presence with more than 2,800 employees in over 18 countries.

For more information Trimble's Web site at www.trimble.com .

Certain statements made in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include the revenue, effective tax rate, stock-based compensation, amortization of purchased intangibles and earnings per share estimates for the first quarter and fiscal 2007 including the expected impact of the @Road acquisition. These forward-looking statements are subject to change, and actual results may materially differ from those set forth in this press release due to certain risks and uncertainties. For example, strong demand for the Company's products may not continue because of a decline in the overall health of the economy and international markets, which may result in reduced capital spending. Fuel and other operating costs could remain high or increase, which could weaken sales into the agricultural market. In addition, the Company's results may be adversely affected if the growth rates and profitability expectations for each of its four segments are not achieved, or its joint ventures and recent acquisitions do not achieve anticipated results, or if the Company is unable to market, manufacture and ship new products. The Company's results would also be negatively impacted by unforeseen costs associated with the acquisition of @Road or delays in integrating the two companies. Any failure to achieve predicted results could negatively impact the Company's revenues, gross margin and other financial results. Whether the Company achieves its guidance for the first fiscal quarter of 2007 will also depend on a number of other factors, including the risks detailed from time to time in reports filed with the SEC, including its quarterly reports on Form 10-Q and its annual report on Form 10- K. Undue reliance should not be placed on any forward-looking statement, contained herein. These statements reflect the Company's position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company's expectations or any change of events, conditions, or circumstances on which any such statement is based.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information About The Merger And Where To Find It

Trimble and @Road filed with the SEC a prospectus/proxy statement and other relevant materials in connection with the proposed acquisition of @Road by Trimble pursuant to the terms of an Agreement and Plan of Merger by and among Trimble, Roadrunner Acquisition Corp., a wholly-owned subsidiary of Trimble, and @Road. The prospectus/proxy statement has been mailed to the stockholders of @Road. The prospectus/proxy statement and other relevant materials, and any other documents filed by Trimble or @Road with the SEC, may be obtained free of charge at the SEC's web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by Trimble by contacting Trimble Investor Relations, 935 Stewart Drive, Sunnyvale, California 94085, (408) 481-7838. Investors and security holders may obtain free copies of the documents filed with the SEC by @Road by contacting @Road Investor Relations, 47071 Bayside Parkway, Fremont, California 94538, (510) 870-1317. Investors and security holders of @Road are urged to read the prospectus/proxy statement and the other relevant materials, as well as any amendments or supplements to those documents, when they become available before making any voting or investment decision with respect to the proposed merger.


                      CONSOLIDATED STATEMENTS OF OPERATIONS
                     (In thousands, except per share data)
                                   (Unaudited)

                                      Three Months Ended   Fiscal Year Ended

                                       Dec-29,   Dec-30,   Dec-29,   Dec-30,
                                        2006      2005      2006      2005

    Revenue                           $234,120  $186,821  $940,150  $774,913
    Cost of sales                      118,349    94,522   479,069   385,108
    Gross margin                       115,771    92,299   461,081   389,805
    Gross margin (%)                     49.4%     49.4%     49.0%     50.3%

    Operating expenses
        Research and development        26,606    20,944   103,840    84,276
        Sales and marketing             40,268    31,827   143,623   120,215
        General and administrative      18,400    13,933    68,416    52,137
        Restructuring charges                -         -         -       278
        Amortization of purchased
         intangible assets               2,267     1,515     7,906     6,855
        In-process research and
         development                       930     1,100     1,930     1,100
           Total operating expenses     88,471    69,319   325,715   264,861


    Operating income                    27,300    22,980   135,366   124,944

    Non-operating income (expense),
     net
        Interest income (expense),
         net                               894       185     3,241    (1,495)
        Foreign currency transaction
         gain, net                         724       955     1,719     1,022
        Income (expense) for
         affiliated operations, net      2,751     7,223     6,989      (291)
        Other income, net                  368       321       777       608
           Total non-operating income
            (expense), net               4,737     8,684    12,726      (156)

    Income before taxes                 32,037    31,664   148,092   124,788

    Income tax provision                 8,054     8,271    44,434    39,933
    Net income                         $23,983   $23,393  $103,658   $84,855


    Earnings per share :
         Basic                           $0.43     $0.43     $1.88     $1.59
         Diluted                         $0.41     $0.41     $1.79     $1.49

    Shares used in calculating
     earnings per share :
        Basic                           55,662    53,814    55,022    53,216
        Diluted                         58,587    56,941    58,036    56,819


                              EBITDA RECONCILIATION
                             (Dollars in thousands)
                                   (Unaudited)


                                   Three Months Ended       Fiscal Year Ended
                                   Dec-29,     Dec-30,      Dec-29,   Dec-30,
                                    2006        2005         2006      2005

    GAAP net income                $23,983     $23,393     $103,658   $84,855

       Add back :
              Interest (income)
               expense, net           (894)       (185)      (3,241)    1,495
              Income tax provision   8,054       8,271       44,434    39,933
             Depreciation expense    3,584       2,781       13,523    10,671
             Amortization of
              intangibles            4,177       1,561       13,259     7,020

     EBITDA                        $38,904     $35,821     $171,633  $143,974


                             NON-GAAP RECONCILIATION
                 (Dollars in thousands, except per share data)
                                   (Unaudited)


                                   Three Months Ended     Fiscal Year Ended
                                   Dec-29,     Dec-30,   Dec-29,      Dec-30,
                                    2006        2005      2006         2005

    GAAP income before taxes       $32,037     $31,664  $148,092     $124,788

    Non-GAAP adjustments
        Amortization of purchased
         intangibles                 4,118*(a)   1,515    13,073*(a)    6,855
        In-process research and
         development                   930       1,100     1,930        1,100
        Amortization of
         acquisition-related
         inventory step-up               -           -         -          228
        Restructuring charges            -           -         -          278
        Write off of Debt Issuance
         Costs                           -           -         -          918
        Deferred gain on joint
         venture                         -      (9,304)        -       (9,304)
        Stock-based compensation     3,134*(b)       -    12,571*(b)        -
           Total Non-GAAP
            adjustments              8,182      (6,689)   27,574           75

    Non-GAAP income before taxes    40,219      24,975   175,666      124,863

    Income tax provision            10,111       8,741    52,708       43,702

    Non-GAAP net income            $30,108     $16,234  $122,958      $81,161

    Diluted Non-GAAP earnings per
     share                           $0.51       $0.29     $2.12        $1.43

    Shares used in calculating
     diluted non-GAAP earnings per
     share                          58,587      56,941    58,036       56,819


    *(a) Amortization of purchased intangibles, includes $1,851K recorded in
         cost of sales and $2,267K recorded in operating expense for the three
         months ended December 29, 2006 and $5,168K recorded in cost of sales
         and $7,905K recorded in operating expense for the year ended
         December 29, 2006.
    *(b) Stock compensation expense by Segment and GAAP category (in $000's):


     Three Months Ended December 29, 2006
     ('000s)

                          E&C     TFS    TMS    Advanced Corporate  Total
                                                 Devices

     Cost of sales       $108      25     20        13       126     $292
     Research &
      Development        $278      74     66       167        43     $628
     Sales &
      Marketing           289      66     26       128       191     $700
     General &
      administrative     $288      81    114       115       916   $1,514
       Total             $963    $246   $225      $423    $1,276   $3,134


     Year Ended December 29, 2006
     ('000s)

                          E&C     TFS    TMS    Advanced Corporate  Total
                                                 Devices

     Cost of sales       $393     $98    $63       $82      $536    $1,173
     Research &
      Development      $1,110    $299   $227      $736      $182    $2,554
     Sales &
      Marketing        $1,225    $245   $102      $479      $763    $2,814
     General &
      administrative   $1,235    $330   $344      $553    $3,567    $6,029
       Total           $3,964    $973   $736    $1,850    $5,048   $12,571


                           CONSOLIDATED BALANCE SHEETS
                                 (In thousands)
                                    Unaudited
                                                   Dec-29,           Dec-30,
                                                    2006              2005
    Assets

    Current assets:
       Cash and cash equivalents                   129,621            73,853
       Accounts receivables, net                   172,008           145,100
       Other receivables                             6,014             6,489
       Inventories, net                            112,552           107,851
       Deferred income taxes                        25,905            18,504
       Other current assets                         13,026             8,580
          Total current assets                     459,126           360,377

    Property and equipment, net                     47,998            42,664
    Goodwill and other purchased
     intangible assets, net                        441,682           313,456
    Deferred income taxes                              399             3,580
    Other assets                                    29,226            23,011
          Total non-current assets                 519,305           382,711

          Total assets                            $978,431          $743,088

    Liabilities and Shareholders' Equity

    Current liabilities:
       Current portion of long-term loan               -                 216
       Accounts payable                             44,148            45,206
       Accrued compensation and benefits            47,006            36,083
       Accrued liabilities                          24,973            16,189
       Deferred revenue                             28,060            12,588
       Accrued warranty expenses                     8,607             7,466
       Deferred income taxes                         4,525             4,087
       Income taxes payable                         23,814            24,922
          Total current liabilities                181,133           146,757

    Non-current portion of long-term loan              481               433
    Deferred income taxes                           21,633             5,602
    Other non-current liabilities                   27,519            19,041
          Total liabilities                        230,766           171,833

    Shareholders' equity:
       Common stock                                435,371           384,196
       Retained earnings                           271,183           167,525
       Accumulated other comprehensive
        income                                      41,111            19,534
          Total shareholders' equity               747,665           571,255

          Total liabilities and
           shareholders' equity                   $978,431          $743,088


                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In thousands)
                                    Unaudited
                                                        Fiscal Year Ended
                                                    Dec-29,           Dec-30,
                                                     2006              2005

    Cash flow from operating activities:
        Net Income                                 $103,658           $84,855

        Adjustments to reconcile net
         income  to net cash provided by
           operating activities:
             Depreciation expense                    13,523            10,671
             Amortization expense                    13,259             7,020
             Provision for doubtful
              accounts                                  163              (502)
             Amortization of debt
              issuance cost                             180             1,270
             Deferred income taxes                   10,368            14,242
             Stock-based compensation                12,571                 -
             In-process research and
              development                             1,930             1,100
             Equity (gain) loss from
              joint ventures                         (6,989)              290
             Excess tax benefit for
              stock-based compensation               (8,761)                -
             Other                                      720              (756)

        Add decrease (increase) in
         assets:
             Accounts receivables, net              (12,185)          (19,018)
             Other receivables                        1,949            (2,108)
             Inventories                               (374)          (17,888)
             Other current and non-
              current assets                        (18,692)           (2,294)

        Add increase (decrease) in
         liabilities:
             Accounts payable                        (4,487)            1,078
             Accrued compensation and
              benefits                                7,807             3,408
             Accrued liabilities                      9,952             6,232
             Deferred gain on joint
              venture                                     -            (9,180)
             Deferred revenue                         3,263             2,406
             Income taxes payable                    10,232            12,054
     Net cash provided by operating
      activities                                    138,087            92,880

     Cash flows from investing
      activities:
          Acquisitions, net of cash
           acquired                                 (99,887)          (51,379)
          Acquisition of property and
           equipment                                (16,529)          (23,436)
          Dividends received                              -                 -
          Other                                         (16)             (103)
     Net cash used in investing
      activities                                   (116,432)          (74,918)

     Cash flow from financing activities:
          Issuance of common stock                   26,566            24,463
          Excess tax benefit for stock-
           based compensation                         8,761                 -
          Proceeds from long-term debt
           and revolving credit lines                     -             6,000
          Payments on long-term debt and
           revolving credit lines                         -           (44,250)
          Other                                      (1,165)              385
     Net cash provided (used) in
      financing activities                           34,162           (13,402)

     Effect of exchange rate changes on
      cash and cash equivalents                         (49)           (2,579)

     Net increase (decrease) in cash and
      cash equivalents                               55,768             1,981
     Cash and cash equivalents -
      beginning of period                            73,853            71,872

     Cash and cash equivalents - end of
      period                                       $129,621           $73,853


                                         Q1'05     Q2'05     Q3'05     Q4'05
                                        Actual    Actual    Actual     Actual

    Income Statement Metrics
     Total Revenue                     $195,383  $204,225  $188,484  $186,821
      Engineering & Construction        120,198   141,096   134,173   128,994
      Trimble Field Solutions            45,425    32,187    24,882    25,349
      Advanced Devices                   22,359    24,505    22,215    22,049
      Trimble Mobile Solutions            7,401     6,437     7,214    10,429

     Gross Margin                         50.1%     50.1%     51.6%     49.4%

     Total Segment Income               $39,663   $47,916   $40,492   $32,589
      Engineering & Construction         21,490    37,173    34,360    24,970
      Trimble Field Solutions            15,577     8,044     3,962     4,944
      Advanced Devices                    3,232     4,578     2,916     2,486
      Trimble Mobile Solutions             (636)   (1,879)     (746)      189

     Corporate and Other Charges        $(9,463)  $(9,179)  $(7,465)  $(9,609)

     Non-operating income (expense)    $(12,761) $(14,950) $(12,791)     $413
     and income taxes
     Net Income                         $17,439   $23,787   $20,236   $23,393

     GAAP operating margin%               15.5%     19.0%     17.5%     12.3%
     Non-GAAP operating margin%           16.9%     20.0%     18.5%     13.7%

     GAAP EPS                             $0.31     $0.42     $0.35     $0.41
     Non-GAAP EPS                         $0.34     $0.44     $0.37     $0.29

    Balance Sheet Metrics
     Cash & Cash Equivalents            $50,193   $56,860   $87,293   $73,853

     Accounts Receivables, Net         $154,540  $150,590  $146,792  $145,100

     Inventories, Net                   $91,309   $89,853   $93,940  $107,851

     Total Debt                         $28,836      $661      $659      $649
      Short Term Debt                    12,500       -         -         216
      Long Term Debt                     16,336       661       659       433

     Equity                            $490,188  $513,817  $543,394  $571,255

    Cashflow Metrics

     Cash Flow from (used in)
      Operations                        $(2,135)  $36,570   $35,676   $22,769

     Working Capital                   $197,372  $208,410  $232,985  $213,620

     Capital Expenditures                $3,164    $4,570    $6,760    $8,942

     EBITDA                             $31,885   $41,126   $35,142   $35,821
      Amortization of Intangibles         2,339     2,209       911     1,561
      Depreciation                        2,512     2,378     3,000     2,781

    Financial Ratios
     Days Sales Outstanding                  62        60        60        66
     Inventory Turns (trailing 12
      months)                               4.3       4.1       4.0       3.9
     Current ratio                          2.5       2.7       2.8       2.5
     Debt to Equity                         0.1       0.0       0.0       0.0

    Other
     Headcount                            2,231     2,308     2,347     2,462


                                                            FY'05
                                                            Actual

    Income Statement Metrics
      Total Revenue                                       $774,913
        Engineering & Construction                         524,461
        Trimble Field Solutions                            127,843
        Advanced Devices                                    91,128
        Trimble Mobile Solutions                            31,481

      Gross Margin                                           50.3%

      Total Segment Income                                $160,660
        Engineering & Construction                         117,993
        Trimble Field Solutions                             32,527
        Advanced Devices                                    13,212
        Trimble Mobile Solutions                            (3,072)

      Corporate and Other Charges                          (35,716)

      Non-operating income (expense)                       (40,089)
      and income taxes
      Net Income                                           $84,855

      GAAP operating margin%                                 16.1%
      Non-GAAP operating margin%                             17.2%

      GAAP EPS                                               $1.49
      Non-GAAP EPS                                           $1.43

    Balance Sheet Metrics
      Cash & Cash Equivalents

      Accounts Receivables, Net

      Inventories, Net

      Total Debt
        Short Term Debt
        Long Term Debt

      Equity

    Cashflow Metrics

      Cash Flow from (used in) Operations                  $92,880

      Working Capital

      Capital Expenditures                                 $23,436

      EBITDA                                              $143,974
        Amortization of Intangibles                         $7,020
        Depreciation                                       $10,671

    Financial Ratios
      Days Sales Outstanding
      Inventory Turns (trailing 12
       months)
      Current ratio
      Debt to Equity

    Other
      Headcount


      (a) Impact of moving joint venture transactions from non-operating to
          operating income -- reduced gross margin by 1.3 points and operating
          income by 1.3 points in Q4'06.
          In addition, operating margins were impacted by 1.3 points due to
          stock-based compensation expense. (For details, please refer to the
          Non-GAAP Reconciliation).
      (b) Impact of moving joint venture transactions from non-operating to
          operating income -- reduced gross margin by 1.9 points and operating
          income by 1.9 points in FY06.
          In addition, operating margins were impacted by 1.3 points due to
          stock-based compensation expense. (For details, please refer to the
          Non-GAAP Reconciliation).
      (c) Impact of moving joint venture transactions from non-operating to
          operating income -- reduced operating income by 1.3 points in Q4'06.
      (d) Impact of moving joint venture transactions from non-operating to
          operating income -- reduced operating income by 1.9 points in FY06.


                                      Q1'06     Q2'06    Q3'06     Q4'06
                                     Actual    Actual    Actual    Actual

    Income Statement Metrics
     Total Revenue                  $225,854  $245,326  $234,851  $234,120
      Engineering & Construction     146,734   168,041   162,370   159,973
      Trimble Field Solutions         43,042    36,320    29,236    30,631
      Advanced Devices                23,471    26,114    26,819    26,546
      Trimble Mobile Solutions        12,607    14,851    16,426    16,970

     Gross Margin                      47.6%     49.6%     49.5%     49.4%(a)

     Total Segment Income            $42,831   $52,719   $49,209   $41,406
      Engineering & Construction      26,377    38,803    38,337    32,638
      Trimble Field Solutions         13,908    11,299     5,634     6,536
      Advanced Devices                 2,323     2,243     4,113     1,405
      Trimble Mobile Solutions           223       374     1,125       827

     Corporate and Other Charges     $(9,766) $(14,050) $(12,878) $(14,106)

     Non-operating income (expense)  $(7,237) $(10,166) $(10,989)  $(3,317)
     and income taxes
     Net Income                      $25,828   $28,503   $25,342   $23,983

     GAAP operating margin%            14.6%     15.8%     15.5%     11.7%(a)
     Non-GAAP operating margin%        17.1%     19.0%     18.0%     15.2%(c)

     GAAP EPS                          $0.45     $0.49     $0.43     $0.41
     Non-GAAP EPS                      $0.52     $0.59     $0.50     $0.51

    Balance Sheet Metrics
     Cash & Cash Equivalents         $97,648  $107,726  $136,402  $129,621

     Accounts Receivables, Net      $171,392  $171,942  $173,318  $172,008

     Inventories, Net               $101,552  $113,925  $114,875  $112,552

     Total Debt                         $603      $890      $757      $481
      Short Term Debt                    166       431       290         -
      Long Term Debt                     437       459       467       481

     Equity                         $611,860  $664,739  $708,924  $747,665

    Cashflow Metrics

     Cash Flow from (used in)
      Operations                     $16,877   $42,492   $26,398   $52,320

     Working Capital                $249,302  $257,808  $302,045  $277,993

     Capital Expenditures             $4,972    $5,971    $3,023    $2,563

     EBITDA                          $40,922   $47,747   $44,060   $38,904
      Amortization of Intangibles      2,380     3,765     2,937     4,177
      Depreciation                     3,104     3,385     3,450     3,584

    Financial Ratios
     Days Sales Outstanding               57        55        59        55
     Inventory Turns (trailing 12
      months)                            4.0       4.0       4.0       4.1
     Current ratio                       2.6       2.5       2.9       2.5
     Debt to Equity                      0.0       0.0       0.0       0.0

    Other
     Headcount                         2,543     2,627     2,665     2,842


                                                       FY'06
                                                       Actual

    Income Statement Metrics
      Total Revenue                                   $940,150
        Engineering & Construction                     637,118
        Trimble Field Solutions                        139,229
        Advanced Devices                               102,950
        Trimble Mobile Solutions                        60,854

      Gross Margin                                       49.0%(b)

      Total Segment Income                            $186,165
        Engineering & Construction                     136,155
        Trimble Field Solutions                         37,377
        Advanced Devices                                10,084
        Trimble Mobile Solutions                         2,549

      Corporate and Other Charges                      (50,800)

      Non-operating income (expense)                   (31,709)
      and income taxes
      Net Income                                      $103,658

      GAAP operating margin%                             14.4%(b)
      Non-GAAP operating margin%                         17.3%(d)

      GAAP EPS                                           $1.79
      Non-GAAP EPS                                       $2.12

    Balance Sheet Metrics
      Cash & Cash Equivalents

      Accounts Receivables, Net

      Inventories, Net

      Total Debt
        Short Term Debt
        Long Term Debt

      Equity

    Cashflow Metrics

      Cash Flow from (used in) Operations             $138,087

      Working Capital                                 $277,993

      Capital Expenditures                             $16,529

      EBITDA                                          $171,633
        Amortization of Intangibles                    $13,259
        Depreciation                                   $13,523

    Financial Ratios
      Days Sales Outstanding
      Inventory Turns (trailing 12 months)
      Current ratio
      Debt to Equity

    Other
      Headcount


        (a) Impact of moving joint venture transactions from non-operating to
            operating income -- reduced gross margin by 1.3 points and
            operating income by 1.3 points in Q4'06.
            In addition, operating margins were impacted by 1.3 points due to
            stock-based compensation expense. (For details, please refer to
            the Non-GAAP Reconciliation).
        (b) Impact of moving joint venture transactions from non-operating to
            operating income -- reduced gross margin by 1.9 points and
            operating income by 1.9 points in FY06.
            In addition, operating margins were impacted by 1.3 points due to
            stock-based compensation expense. (For details, please refer to
            the Non-GAAP Reconciliation).
        (c) Impact of moving joint venture transactions from non-operating to
            operating income -- reduced operating income by 1.3 points in
            Q4'06.
        (d) Impact of moving joint venture transactions from non-operating to
            operating income -- reduced operating income by 1.9 points in
            FY06.

FTRMB



SOURCE Trimble

Investor Relations, Willa McManmon, +1-408-481-7838, or Media, LeaAnn McNabb,
+1-408-481-7808, both of Trimble
http://www.trimble.com/

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