Form 8-K · Current Report · Filed 2024-05-03
Trimble Inc. Discloses Material Weakness in Internal Controls, Delays Financial Filings
Trimble Inc. announced a material weakness in its internal controls over financial reporting, which had not been previously disclosed. This has led to a delay in the issuance of its first quarter financial results and an amendment to its Form 10-K. The company also reported record annualized recurring revenue and provided forward-looking guidance for 2024. The weakness identified concerns the design and execution of IT and other controls for revenue-related systems and processes.
- Filer
- Trimble Inc. TRMB · NASDAQ
- Filed
- Accession
- 0000864749-24-000126
- CIK
- 0000864749
- Signal
- High impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Other Events
Financial Statements and Exhibits
Market reaction
Close before filing
$60.09
Next session
-6.5%
Since filing
-1.0%
Latest close
$59.47
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from TRMB reporting the same item, with the next session's move:
Exhibits (1)
About Trimble Inc.
Trimble Inc. is a technology company that develops positioning and productivity solutions for various industries. It focuses on connecting the physical and digital worlds through advanced integrated solutions. Trimble's portfolio includes industries like agriculture, construction, geospatial, transportation, and natural resources, where accurate positioning and measurement are crucial. The company offers products such as GPS receivers, laser rangefinders, unmanned aerial vehicle systems, and software tools. Founded in 1978 and headquartered in Sunnyvale, California, Trimble has consistently contributed to technological advancements by providing systems that improve productivity, quality, safety, and compliance. Trimble's solutions are vital in automating and streamlining workflows, thus fostering efficiency and innovation across sectors. Its presence is felt globally as it enables businesses to make data-driven decisions, promoting sustainable practices and operational intelligence.
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