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Trimble revenue tumbles

The company’s net operating income for Q1 2009 also took a hit, down 56% to $US17.5m. “The first quarter results were in line with our expectations,” chief executive officer Steven Berglund said. “We continue to see considerable uncertainty in our markets with the resulting financial impact focused within our engineering and construction segment.”Although the level of interest in our productivity improving technology remains high in the engineering and construction markets, underlying business confidence did not improve during the quarter, which impacted demand.” But Berglund said the company’s field solutions segment demonstrated year on year growth in revenue and profits as a result of relatively strong performance in agriculture. “While our mobile solutions segment did not grow year over year, the outlook for booking a number of enterprise level accounts in the first half of the year remains good,” Berglund said.”Overall, until some level of business confidence is restored, full year 2009 results will remain difficult to forecast. “We took cost-reduction actions in the quarter and will take additional steps, as conditions require, to align our costs with the lower revenue level.”

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