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


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