19/02/2015

Garmin Reports Strong Fiscal 2014 Revenue and Pro Forma EPS Growth; Proposes Dividend Increase and Announces Share Repurchase Plan

Schaffhausen, Switzerland / February 18, 2015/ Business Wire -- Garmin Ltd. (Nasdaq:  GRMN – News) today announced results for the fiscal year and quarter ended December 27, 2014.
Highlights in the quarter include:
  • Total revenue of $803 million in fourth quarter 2014 with non-automotive/mobile segments of outdoor, fitness, aviation and marine delivering 58% of total revenues
  • Gross and operating margins of 54% and 22%, respectively
  • Gained market share across a broad range of product categories including activity trackers and PNDs
Highlights for the fiscal year include:
  • Total revenue of $2,871 million in 2014 with non-automotive/mobile segments of outdoor, fitness, aviation and marine growing a combined 23% over 2013 and contributing 57% of total revenue
  • Gross and operating margins of 56% and 24%, respectively, improving from 2013 levels
  • Continued diversification of revenue and profitability sources as we entered new product categories, broadened our range of offerings and grew market share
  • Returned $602 million of cash to shareholders with quarterly dividends totaling $360 million and share repurchases of $242 million
Download Q4 2014 Press Release FINAL


Source Garmin by press release ©

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