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Trimble reports:

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Sunnyvale, CA - Trimble Inc. (NASDAQ: TRMB) today announced financial results for the first quarter of 2021.

First Quarter 2021 Financial Highlights

GAAP revenue of $886.5 million, up 12 percent year over year, and non-GAAP revenue of $886.7 million, up 12 percent year over year
Annualized recurring revenue (ARR) was $1.32 billion, up 9 percent year over year
GAAP operating income was $140.9 million and non-GAAP operating income was $209.2 million
GAAP net income was $114.5 million and non-GAAP net income was $167.0 million
Diluted earnings per share was $0.45 on a GAAP basis and $0.66 on a non-GAAP basis
Adjusted EBITDA of $231.3 million, 26.1 percent of revenue
Operating cash flow on a trailing twelve months basis was $744.5 million, up 26 percent year over year

Executive Quote
"Our first quarter results exceeded expectations," said Rob Painter, Trimble's president and chief executive officer. "Growth in total revenue, annualized recurring revenue, and EBITDA reflect increasing end-market strength and execution of our Connect and Scale 2025 strategy."

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