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
Aldec

Featured Video
Jobs
Senior Electrical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
Principle Electronic Design Engr for Cypress Semiconductor at San Jose, California
Director, Business Development for Kongsberg Geospatial at remote from home, Any State in the USA
Director, Business Development for Kongsberg Geospatial at Ottawa, Canada
Upcoming Events
IPC Technical Education - PCB Layout - Place and Route at Del Mar Fairgrounds 2260 Jimmy Durante Blvd. Del Mar CA - May 2, 2018
IPC Technical Education at Wisconsin Center 400 W Wisconsin Ave. Milwaukee WI - May 8, 2018
IPC High Reliability Forum at Embassy Suites: Baltimore-At BWI Airport 1300 Concourse Drive Linthicum MD - May 15 - 17, 2018
DownStream: Solutions for Post Processing PCB Designs
TrueCircuits: IoTPLL
DAC2018



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise