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Technology Stocks : Trimble Navigation -- Ignore unavailable to you. Want to Upgrade?

To: Springer who wrote (2537)	6/19/1998 11:02:00 AM
From: SKIP PAUL	Respond to of 3506

Friday June 19, 9:30 am Eastern Time Company Press Release SOURCE: Trimble Trimble Outlines Path for Future Growth NEW YORK, June 19 /PRNewswire/ -- An executive with Trimble (Nasdaq: TRMB - news), the world's leading manufacturer of Global Positioning System equipment, outlined plans today to take advantage of a predicted industry boom by licensing the company's technology and building alliances with other market leaders. The plans were outlined by Mike Gagliardi, Trimble's vice president for aerospace, at the Red Chip Review investment conference. The Global Positioning System, or GPS, is a constellation of 24 satellites that transmits a signal providing precise location and timing information anywhere on Earth. This information is used in a variety of applications, from navigation to surveying and from construction to communication. The company, based in Sunnyvale, Calif., has virtually led the industry through its development and commercialization. Analysts believe the GPS industry is moving from its early development stages into a period of rapidly increasing customer acceptance, Gagliardi said. In addition, the United States GPS Industry Council forecasts that industry revenues could exceed $8 billion by the year 2000, up from the approximately $3 billion reported in 1997. Trimble, founded 20 years ago, reported 1997 net income of $9.3 million on revenues of $272 million. The company is acknowledged in the industry for its technological leadership. Gagliardi said a combination of new strategic alliances, as well as the licensing of some of its patented technology, will help keep it in the forefront in the future. Trimble's list of strategic partners reads like a ''Who's Who'' of a variety of industry leaders, including: Bosch, Caterpillar, Case, Honeywell, Intel, Microsoft and Siemens. For example, Trimble is the world's leading supplier of GPS receivers for the in-car navigation system industry, with a 30% share of the global market. The company's commercial systems division, which serves the construction and agricultural industries among others, maintains a 50% market share. In addition, the company continues to market strongly to the land survey industry, a market it helped change by introducing GPS technology 14 years ago. Trimble currently holds a 68% marketshare worldwide, and saw first quarter growth of 44% in 1998 compared to the same period in 1997. Gagliardi said the company plans to further strengthen its business by developing new alliances, pursuing new platforms for mobile applications, and advancing positioning technology through greater integration.