WESTMINSTER, Colo., March 26,
2025 /PRNewswire/ -- Trimble Inc. (NASDAQ: TRMB) (the
"Company") today announced that it received an expected deficiency
notification letter from the Listing Qualifications Staff of The
Nasdaq Stock Market LLC ("Nasdaq") on March 20, 2025 (the "Notice"). The Notice
indicated that the Company is not in compliance with Nasdaq Listing
Rule 5250(c)(1) (the "Listing Rule") as a result of its failure to
timely file its Annual Report on Form 10-K for the period ended
January 3, 2025 (the "2024 Form 10-K") with the Securities and
Exchange Commission (the "SEC"). The Listing Rule requires
Nasdaq-listed companies to timely file all required periodic
reports with the SEC.
The Notice has no immediate effect on the listing or trading of
the Company's common stock on the Nasdaq Global Select Market. In
accordance with Nasdaq's listing rules, the Company has 60 calendar
days after the Notice to submit a plan to regain compliance with
the Listing Rule. Pursuant to the Notice, following receipt of such
plan, Nasdaq may grant an extension of up to 180 calendar days from
the Form 10-K's due date, or until July 2,
2025, for the Company to regain compliance. The Company
intends to take the necessary steps to regain compliance with
Nasdaq's listing rules as soon as practicable.
As discussed on the Company's earnings call on February 19, 2025, the Company's audit process
for fiscal year 2024 has been delayed due to the time required to
prepare and file (i) an amendment to the Company's Form 10-K for
fiscal year 2023 and (ii) the Quarterly Reports on Form 10-Q for
the first three quarters of fiscal year 2024, all of which were
filed on January 16, 2025. Nothing
has come to the Company's attention which causes it to believe that
the financial results included in the 2024 Form 10-K will differ
from those presented in the Company's press release dated
February 19, 2025 announcing the
financial results for its fourth quarter and fiscal year ended
January 3, 2025. The Company expects to file the 2024 Form
10–K as soon as practicable.
Safe Harbor Statement
Certain statements made in this press release are
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended, and are made pursuant
to the safe harbor provisions of the Securities Litigation Reform
Act of 1995. These statements include, but are not limited to,
statements regarding the Company's expectations as to the
anticipated timing of filing the 2024 Form 10-K and completion of
the Company's audit for fiscal year 2024 and statements relating to
the Company's plan to regain compliance with Nasdaq's listing
rules, as well as all statements that are not historical facts.
These forward-looking statements are subject to change, and actual
results may materially differ from those set forth in this Current
Report due to certain risks and uncertainties. Factors that could
cause or contribute to changes in such forward-looking statements
include, but are not limited to, the expected timing and results of
the Company's audit for fiscal year 2024; the risk that the
completion and filing of the 2024 Form 10-K will take longer than
expected; uncertainties about the timing of the Company's
submission of a compliance plan; Nasdaq's acceptance of any such
plan; the duration of any extension that may be granted by Nasdaq;
and the risk that the Company will be unable to meet Nasdaq's
continued listing requirements. The foregoing review of important
factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements set forth in
reports filed with the SEC, including the Company's current reports
on Form 8-K, quarterly reports on Form 10-Q and its annual report
on Form 10-K. Undue reliance should not be placed on any
forward-looking statement contained herein. These statements
reflect the Company's position as of the date of this press
release. The Company expressly disclaims any undertaking to release
publicly any updates or revisions to any statements to reflect any
change in the Company's expectations or any change of events,
conditions, or circumstances on which any such statement is
based.
About Trimble
Trimble is transforming the ways people move, build and live.
Core technologies in positioning, modeling and data analytics
connect the digital and physical worlds to improve our customers'
productivity, quality, safety, transparency and sustainability. For
more information about Trimble (NASDAQ: TRMB), visit:
www.trimble.com.
Michael Leyba
Investor Relations
415-309-3127
michael_leyba@trimble.com
Eric Harris
Director of Strategic Communications
303-588-6167
eric_harris@trimble.com
FTRMB
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SOURCE Trimble