Garmin Reports Q4 and Fiscal 2015 Results

SCHAFFHAUSEN, Switzerland — (BUSINESS WIRE) — February 17, 2016 — 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
           
(in thousands, 13-Weeks Ended 52-Weeks Ended
except per share data) Dec 26,   Dec 27, Yr over Yr Dec 26, Dec 27, Yr over Yr
2015 2014   Change 2015 2014   Change
Net sales $781,358 $803,306 -3% $2,820,270 $2,870,658 -2%
Auto 268,478 339,832 -21% 1,048,125 1,240,377 -15%
Fitness 228,740 201,303 14% 661,599 568,440 16%
Outdoor 123,627 116,432 6% 425,150 427,555 -1%
Aviation 104,059 93,279 12% 398,618 385,915 3%
Marine 56,454 52,460 8% 286,778 248,371 15%
 
Gross profit % 52.9% 53.6% 54.6% 55.9%
 
Operating profit % 18.7% 21.9% 19.5% 24.1%
 
GAAP diluted EPS $0.70 $1.09 -36% $2.39 $1.88 27%
Pro forma diluted EPS (1) $0.74 $0.77 -4% $2.49 $3.10 -20%
 

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »



Review Article Be the first to review this article
Trimble

Harris

Featured Video
Jobs
SYSTEMS INTEGRATOR for Palm Beach County Human Resources at West Palm Beach, FL
Solidworks Product Designer for NASCENT Technology at Charlotte, NC
Developer-Support-Implementation Engineer for EDA Careers at San Francisco Area, CA
CAD/CAM Regional Account Manager (Pacific Northwest) for Vero Software Inc. at Seattle, WA
Upcoming Events
8th International Summer School on Applied Geoinformatics for Society and Environment: Crisis and Disaster Management at University of Tehran, Kish International Campus Kish Island Iran - Apr 29 - 4, 2017
UGIC CONFERENCE 2017 at Park City Utah - May 8 - 12, 2017
C4ISR Summit 2017 at Armed Forces Officers Club Abu Dhabi United Arab Emirates - May 9 - 10, 2017
8th Electronic Materials and Processes for Space (EMPS) Workshop at Noordwijk Netherlands - May 10 - 12, 2017
Teledyne:
GEOINT2017
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