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Garmin Reports Q4 and Fiscal 2015 Results

17 February 2016 @ 9:52 AM  / Earnings /


Schaffhausen, Switzerland / February 17, 2016/ Business Wire

Garmin Ltd. (Nasdaq: GRMN – News) today announced results for the fourth quarter ended December 26, 2015.

Highlights in the quarter include:

  • Total revenue of $781 million with outdoor, fitness, aviation and marine collectively growing 11% over the year ago quarter and contributing 66% of total revenue
  • Gross and operating margins were 52.9% and 18.7%, respectively
  • Pro forma EPS(1) of $0.74 for fourth quarter 2015
  • Launched our global Beat Yesterday™ advertising campaign, designed to highlight the intrinsic motivation that leads to self-improvement
  • Recently announced new products available for the first quarter 2016 including a new line up of golf devices, fēnix® 3 HR with Garmin Elevate™ wrist heart rate technology, Varia Vision™ in-sight display, and the Garmin Drive™ line of PNDs

Highlights for the fiscal year include:

  • Total revenue of $2,820 million with outdoor, fitness, aviation, and marine collectively growing 9% over 2014 and contributing 63% of total revenue
  • Gross and operating margins were 54.6% and 19.5%, respectively
  • Shipped approximately 16.2 million units, up 7% from prior year
  • Pro forma EPS(1) of $2.49 for 2015

Download the full Q4 2015 Press Release here. 


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