Garmin Ltd. (GRMN) Tops Q4 EPS by 16c; Guides In-Line
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Garmin Reports Solid Fiscal 2016 Revenue and Operating Income Growth
February 22, 2017 7:00 AM ESTSCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (Nasdaq: GRMN) today announced results for the fiscal-year ended December 31, 2016.
Highlights for the fourth quarter 2016 include:
Total revenue of $861 million, growing 10% over the prior year, with outdoor, fitness, marine and aviation collectively growing 25% over the prior year quarter and contributing 74% of total revenue Gross margin improved to 54.7% compared to 52.9% in the prior year quarter Operating margin of 18.6% compared to 18.7% in the prior year quarter Operating income growth of 10%... More