Exhibit 99.01

Trimble Announces First Quarter 2012 Revenue of $502.3 Million, Up 31 Percent; Non-

GAAP Earnings per Share of $0.68, Up 36 Percent, as Compared to First Quarter 2011

SUNNYVALE, Calif., May 3, 2012 – Trimble (NASDAQ: TRMB) today announced first quarter revenue of $502.3 million, up 31 percent as compared to the first quarter of 2011.

Going forward, as subscription and software sales become a more material part of Trimble’s total revenue, the company will break out its revenue in three categories – product, service and subscription. For the first quarter of 2012, Trimble’s product revenue was $398.5 million, or 79 percent of total revenue; service revenue was $57.4 million, or 12 percent of total revenue; and subscription revenue was $46.3 million, or 9 percent of total revenue.

GAAP operating income for the first quarter of 2012 was $59.8 million, up 37 percent as compared to the first quarter of 2011. GAAP operating margin in the first quarter of 2012 was 11.9 percent as compared to 11.4 percent in the first quarter of 2011.

GAAP net income for the first quarter of 2012 was $50.8 million, up 28 percent as compared to the first quarter of 2011. Diluted earnings per share in the first quarter of 2012 were $0.40 as compared to diluted earnings per share of $0.32 in the first quarter of 2011.

First quarter 2012 non-GAAP operating income of $101.7 million was up 45 percent as compared to the first quarter of 2011. Non-GAAP operating margin was 20.3 percent as compared to 18.2 percent in the first quarter of 2011.

Non-GAAP net income of $87.3 million for the first quarter of 2012 was up 40 percent as compared to the first quarter of 2011. Diluted non-GAAP earnings per share in the first quarter of 2012 were $0.68 as compared to diluted non-GAAP earnings per share of $0.50 in the first quarter of 2011.

First quarter 2012 non-GAAP results exclude:

“First quarter revenue and profits established new milestones for Trimble. We are particularly encouraged by the continuing improvement in margins,” said Steven W. Berglund, Trimble’s president and chief executive officer. “Market conditions were generally stable worldwide, although European markets remain uncertain and commercial and residential construction remains weak. Overall, the results for the first quarter reinforce our optimistic outlook for the year.”

Segment operating income is revenue less cost of sales and operating expenses, excluding general corporate expenses, restructuring expenses, amortization of intangibles, amortization of acquisition-related inventory step-up charges and acquisition costs. Non-GAAP segment operating income also excludes the impact of stock-based compensation expense.

Engineering and Construction (E&C)

First quarter 2012 E&C revenue was $248.9 million, up 31 percent as compared to the first quarter of 2011. This growth was driven primarily by strong sales of machine control and survey products across North America, Europe and Asia Pacific and acquisitions.

First quarter operating income in E&C was $40.1 million, or 16.1 percent of revenue as compared to $22.8 million, or 12.0 percent of revenue in the first quarter of 2011. Non-GAAP operating income was $42.8 million, or 17.2 percent of revenue, as compared to $25.1 million, or 13.2 percent of revenue, in the first quarter of 2011. The improvement in operating income was due to operating leverage on higher revenue and acquisitions.

Field Solutions

First quarter 2012 Field Solutions revenue was $147.5 million, up 20 percent as compared to the first quarter of 2011 due primarily to increased sales of agricultural and Geographic Information System (GIS) products and acquisitions.

First quarter 2012 Field Solutions operating income was $62.4 million, or 42.3 percent of revenue, as compared to $52.5 million, or 42.7 percent of revenue, in the first quarter of 2011. Non-GAAP operating income was $63.0 million, or 42.7 percent of revenue, as compared to $53.0 million, or 43.1 percent of revenue, in the first quarter of 2011.

Mobile Solutions

First quarter 2012 Mobile Solutions revenue was $78.4 million, up 76 percent as compared to the first quarter of 2011, primarily due to the PeopleNet acquisition.

First quarter 2012 Mobile Solutions operating income was $7.4 million, or 9.4 percent of revenue, as compared to an operating loss of $1.3 million, or negative 3.0 percent of revenue, in the first quarter of 2011. Non-GAAP operating income was $8.2 million, or 10.4 percent of revenue, as compared to an operating loss of $338 thousand, or approximately break-even, in the first quarter of 2011. The improvement in non-GAAP operating margin was due to the PeopleNet acquisition and increased profitability from the base business.

Advanced Devices

First quarter 2012 Advanced Devices revenue was $27.5 million, up 3 percent as compared to the first quarter of 2011.

Operating income in Advanced Devices for the first quarter of 2012 was $3.3 million, or 12.1 percent of revenue, as compared to $3.9 million, or 14.4 percent of revenue, in the first quarter of 2011. Non-GAAP operating income in Advanced Devices was $4.0 million, or 14.4 percent of revenue, as compared to $4.5 million, or 16.9 percent of revenue, in the first quarter of 2011.

Use of Non-GAAP Financial Information

To help our investors understand our past financial performance and our future results, as well as our performance relative to competitors, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non-GAAP financial measures. These non-GAAP measures can be used to evaluate our historical and prospective financial performance, as well as our performance relative to competitors. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, and to make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. We believe that these non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. Further, we believe some of our investors track our “core operating performance” as a means of evaluating our performance in the ordinary, ongoing, and customary course of our operations. Core operating performance excludes items that are non-cash, not expected to recur or not reflective of ongoing financial results. Management also believes that looking at our core operating performance provides a supplemental way to provide consistency in period to period comparisons.

The specific non-GAAP measures which we use along with a reconciliation to the nearest comparable GAAP measures and the explanation for why these non-GAAP measures provide useful information to investors regarding our financial condition and results of operations and why management chose to exclude selected items can be found at the end of this release. The method we use to produce non-GAAP results is not computed according to GAAP and may differ from the methods used by other companies. Our non-GAAP results are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read

only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of our non-GAAP financial measures to the comparable GAAP results, which is attached to this earnings release. Additional financial information about our use of non-GAAP results can be found on the investor relations page of our Web site at http://investor.trimble.com.

Forward Looking Guidance

For the second quarter of 2012 Trimble expects revenue between $510 million and $515 million with GAAP earnings per share of $0.41 to $0.43 and non-GAAP earnings per share of $0.69 to $0.71. Non-GAAP guidance excludes the amortization of intangibles expense of $29.1 million related to previous acquisitions; anticipated acquisition costs of $5.0 million; and the anticipated impact of stock-based compensation expense of $8.0 million. Both GAAP and non-GAAP earnings per share assume a 15 to 17 percent tax rate, 129.0 million shares outstanding and interest costs of $4.0 million.

Investor Conference Call / Webcast Details

Trimble will hold a conference call on May 3, 2012 at 1:30 p.m. PT to review its first quarter 2012 results. It will be broadcast live on the Web at http://investor.trimble.com. Investors without Internet access may dial into the call at (800) 528-9198 (U.S.) or (702) 928-6633 (international). A replay of the call will be available for seven days at (855) 859-2056 (U.S.) or (404) 537-3406 (international) and the pass code is 67982054. The replay will also be available on the Web at the address above.

About Trimble

Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location—including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978, Trimble is headquartered in Sunnyvale, Calif.

For more information visit: www.trimble.com.

Safe Harbor

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 expectations for future financial market and economic conditions, the ability to deliver revenue, earnings per share and other financial projections that Trimble has guided for the

second quarter 2012, the expected tax rate, the anticipated impact of stock-based compensation expense, the amortization of intangibles related to previous acquisitions and the anticipated number of shares outstanding and interest costs. These forward-looking statements are subject to change, and actual results may materially differ from those set forth in this press release due to certain risks and uncertainties. The Company’s results may be adversely affected if the Company is unable to market, manufacture and ship new products or obtain new customers for its Mobile Solutions segment or integrate new acquisitions. Any failure to achieve predicted results could negatively impact the Company’s revenues, cash flow from operations, and other financial results. The Company’s financial results will also depend on a number of other factors and risks detailed from time to time in reports filed with the SEC, including its quarterly reports on Form 10-Q and its annual report on Form 10- K, such as changes in economic conditions, critical part supply chain shortages, possible write-offs of goodwill, and regulatory proceedings affecting GPS. Undue reliance should not be placed on any forward-looking statement contained herein, especially in light of greater uncertainty than normal in the economy in general. These statements reflect the Company’s position as of the date of this 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.

FTRMB

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

(Unaudited)

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

REPORTING SEGMENTS

(Dollars in thousands)

(Unaudited)

GAAP TO NON-GAAP RECONCILIATION

(Dollars in thousands, except per share data)

(Unaudited)

GAAP TO NON-GAAP RECONCILIATION (CONTINUED)

(Dollars in thousands, except per share data)

(Unaudited)

FOOTNOTES TO GAAP TO NON-GAAP RECONCILIATION

(Unaudited)

Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures. The non-GAAP financial measures included in the previous table as well as detailed explanations to the adjustments to comparable GAAP measures, are set forth below:

Non-GAAP gross margin

We believe our investors benefit by understanding our non-GAAP gross margin as a way of understanding how product mix, pricing decisions and manufacturing costs influence our business. Non-GAAP gross margin excludes restructuring costs, amortization of purchased intangible assets, stock-based compensation and amortization of acquisition-related inventory step-up from GAAP gross margin. We believe that these exclusions offer investors additional information that may be useful to view trends in our gross margin performance.

Non-GAAP operating expenses

We believe this measure is important to investors evaluating our non-GAAP spending in relation to revenue. Non-GAAP operating expenses exclude restructuring costs, amortization of purchased intangible assets, stock-based compensation and acquisition costs associated with external and incremental costs resulting directly from merger and acquisition activities such as legal, due diligence and integration costs from GAAP operating expenses. We believe that these exclusions offer investors supplemental information to facilitate comparison of our operating expenses to our prior results.

Non-GAAP operating income

We believe our investors benefit by understanding our non-GAAP operating income trends which are driven by revenue, gross margin, and spending. Non-GAAP operating income excludes restructuring costs, amortization of purchased intangible assets, stock-based compensation, amortization of acquisition-related inventory step-up and acquisition costs associated with external and incremental costs resulting directly from merger and acquisition activities such as legal, due diligence and integration costs. We believe that these exclusions offer an alternative means for our investors to evaluate current operating performance compared to results of other periods.

Non-GAAP non-operating income, net

We believe this measure helps investors evaluate our non-operating income trends. Non-GAAP non-operating income, net excludes acquisition costs associated with unusual acquisition related items such as an adjustment to a gain on bargain purchase (resulting from the fair value of identifiable net assets acquired exceeding the consideration transferred), adjustments to the fair value of earn-out liabilities and payments made or received to settle earn-out and holdback disputes. These costs are specific to particular acquisitions and vary significantly in amount and timing. Non-GAAP non-operating income, net also excludes a foreign exchange loss specifically associated with a hedge for one of our acquisitions. We believe that these exclusions provide investors with a supplemental view of our ongoing financial results.

Non-GAAP income tax provision

Non-GAAP items tax effected adjusts the provision for income taxes to reflect the effect of certain non-GAAP items on non-GAAP net income. We believe this information is useful to investors because it provides for consistent treatment of the excluded items in our non-GAAP presentation.

Non-GAAP net income

This measure provides a supplemental view of net income trends which are driven by non-GAAP income before taxes and our non-GAAP tax rate. Non-GAAP net income excludes restructuring costs, amortization of purchased intangible assets, stock-based compensation, amortization of acquisition-related inventory step-up, acquisition costs, a foreign exchange loss from a hedge associated with an acquisition, and non-GAAP tax adjustments from GAAP net income. We believe our investors benefit from understanding these exclusions and from an alternative view of our net income performance as compared to our past net income performance.

Non-GAAP diluted net income per share

We believe our investors benefit by understanding our non-GAAP operating performance as reflected in a per share calculation as a way of measuring non-GAAP operating performance by ownership in the company. Non-GAAP diluted net income per share excludes restructuring costs, amortization of purchased intangible assets, stock-based compensation, amortization of acquisition-related inventory step-up, acquisition costs, a foreign exchange loss from a hedge associated with an acquisition, and non-GAAP tax adjustments from GAAP diluted net income per share. We believe that these exclusions offer investors a useful view of our diluted net income per share as compared to our past diluted net income per share.

Non-GAAP operating leverage

We believe this information is beneficial to investors as a measure of how much incremental revenue is contributed to our operating income. Non-GAAP operating leverage is the increase in non-GAAP operating income as a percentage of the increase in revenue. We believe that this information offers investors supplemental information to evaluate our current performance and to compare to our past non-GAAP operating leverage.

Non-GAAP segment operating income

Non-GAAP segment operating income excludes stock-based compensation from GAAP segment operating income (loss). We believe this information is useful to investors because some may exclude stock-based compensation as an alternative view when assessing trends in the operating income of our segments.

These non-GAAP measures can be used to evaluate our historical and prospective financial performance, as well as our performance relative to competitors. We believe some of our investors track our “core operating performance” as a means of evaluating our performance in the ordinary, ongoing, and customary course of our operations. Core operating performance excludes items that are non-cash, not expected to recur or not reflective of ongoing financial results. Management also believes that looking at our core operating performance provides a supplemental way to provide consistency in period to period comparison. Accordingly, management excludes from non-GAAP those items relating to restructuring, amortization of purchased intangible assets, stock based compensation, amortization of acquisition-related inventory step-up, acquisition costs, a foreign exchange loss from a hedge associated with an acquisition, and non-GAAP tax adjustments. For detailed explanations of the adjustments made to comparable GAAP measures, see items (A) - ( I ) below,