Garmin Reports EPS Growth in First Quarter 2014 with Strong Revenue and Margins

SCHAFFHAUSEN, Switzerland — (BUSINESS WIRE) — April 30, 2014 — Garmin Ltd. (Nasdaq: GRMN) today announced results for the fiscal year and quarter ended March 29, 2014.

Highlights in the quarter include:

  • Total revenue of $583 million in first quarter 2014 with outdoor, fitness, aviation and marine delivering 58% of total revenues and growing 22% over the year ago quarter
  • Gross and operating profit margins improved from the prior year quarter to 57% and 21%, respectively
  • Pro forma EPS growth of 38%, or $0.55 for first quarter 2014
  • Delivered vívofit™, our first fitness band, in the rapidly growing activity monitor category
  • Announced the G3X™ Touch for the experimental and light-sport aircraft markets with five OEM partners at launch
(in thousands,     13-Weeks Ended
except per share data) Mar 29,     Mar 30,     Yr over Yr
2014 2013     Change
Net sales $583,221 $531,957 10%
Automotive/Mobile 242,952 252,589 -4%
Outdoor 83,985 76,165 10%
Aviation 95,994 80,470 19%
Fitness 100,288 72,437 38%
Marine 60,002 50,296 19%
 
Gross profit % 57% 52%
 
Operating profit % 21% 15%
 
Pro forma diluted EPS (1) $0.55 $0.40 38%

1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
Harris

Trimble Catalyst

Featured Video
Jobs
Geospatial Analyst for Vencore at Suitland, MD
Geospatial Intelligence Analyst for Quick Services LLC at Fort Bragg, NC
Sr. Mechanical Engineer for Kateeva at Newark, CA
MECHANICAL ENGINEER for Peter R. Thom and Associates at ORINDA, CA
Mgr Mechanical Engineering 2 for Northrop Grumman at Melbourne, FL
Upcoming Events
DGI 2017 at QEII Centre London United Kingdom - Jan 23 - 25, 2017
GMP Compliance for Quality Control Laboratories 2016 at Andheri Kurla Road, Sahar Village, Andheri-Kurla Road, Mumbai, Maharashtra 40005 Mumbai, Maharashtra India - Jan 23 - 24, 2017
Geospatial World Forum 2017 Hyderabad at Hyderabad International Convention Center P.O Bag 1101, Cyberabad Post Office Hyderabad Telangana India - Jan 23 - 25, 2017
Teledyne:
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy