Garmin Ltd. (GRMN) Tops Q4 EPS by 26c, Sees FY Revs Above the Street, Proposes 7% Div Increase
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Garmin reports strong revenue and operating income growth; proposes 7% dividend increase
February 19, 2020 7:00 AM ESTSCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (Nasdaq: GRMN) today announced results for the fourth quarter and fiscal year ended December 28, 2019.
Highlights for fourth quarter 2019 include:
Total revenue of $1.102 billion, an 18% increase, with fitness, aviation, marine and outdoor collectively increasing 24% over the prior year quarter Gross margin of 58.0% compared to 58.9% in the prior year quarter Operating margin improved to 25.1% compared to 23.9% in the prior year quarter Operating income of $277 million, increasing 24% over the prior year quarter GAAP EPS was $1.89 and pro forma EPS(1) was... More