MapBiz: GPS Boom Yields Record Earnings For Trimble

More evidence of the booming market for Global Positioning System (GPS) devices came yesterday as Trimble, Inc. announced record revenue and earnings for both the 4th quarter and all of 2005. The GPS equipment maker recorded a 15% growth in revenue for the 4th quarter of 2005. For the entire year, the firm had total revenue of $774.9 million, up 16% from the previous year. For 2005, the firm booked a profit of $124.9 million, a 46% increase over 2004.

The firm expects 2006 to be another good year as well. Trimble president and CEO, Steven W. Berglund said, "Looking to 2006, we feel that Trimble is well-positioned to continue to penetrate its served markets, many of which are just beginning to use technology as a productivity tool. The engineering and construction market is showing continuing signs of growth, and we expect our mobile solutions business, which is now profitable, to continue to grow rapidly."

A recent report predicted the world-wide market for GPS devices would reach $22 billion by 2008.