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
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Diversity: Really, who cares
More Editorial  
Jobs
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
DDR 3-4-5 Developer with VIP for EDA Careers at San Jose, CA
Senior Methodology Automation Engineer for EDA Careers at San Jose, CA
Proposal Support Coordinator for Keystone Aerial Surveys at Philadelphia, PA
Upcoming Events
11th International Conference on Verification and Evaluation of Computer and Communication Systems at 1455 DeMaisonneuve W. EV05.139 Montreal Quebec Canada - Aug 24 - 25, 2017
The Rise of Mechatronics at Dassault Systèmes San Diego 5005 Wateridge Vista Drive San Diego CA - Sep 12, 2017
The Rise of Mechatronics at Buca di Beppo - Pasadena 80 West Green Street Pasadena CA - Sep 13, 2017
S2C: FPGA Base prototyping- Download white paper



Internet Business Systems © 2017 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 Policy