Garmin Reports Strong Revenue & Pro Forma EPS Growth in Second Quarter 2014

SCHAFFHAUSEN, Switzerland — (BUSINESS WIRE) — July 30, 2014 — Garmin Ltd. (Nasdaq: GRMN) today announced results for the quarter ended June 28, 2014.

Highlights in the quarter include:

  • Total revenue of $778 million in second quarter 2014 with fitness and aviation delivering significant growth of 79% and 11%, respectively
  • Gross and operating profit margins improved from the prior year quarter to 57% and 28%, respectively
  • Pro forma EPS growth of 34%; $1.02 for second quarter 2014 compared to $0.76 in the prior year
  • Announced the acquisition of Fusion® Electronics, a leading supplier of integrated marine audio equipment, which was completed in third quarter 2014
  • Generated $143 million of free cash flow in second quarter 2014
 
(in thousands,         13-Weeks Ended         26-Weeks Ended
except per share data) Jun 28,       Jun 29,       Yr over Yr Jun 28,       Jun 29,       Yr over Yr
2014 2013 Change 2014 2013 Change
Net sales $ 777,848 $ 696,563 12 % $ 1,361,069 $ 1,228,520 11 %
Automotive/Mobile 350,036 344,701 2 % 592,988 597,290 -1 %
Fitness 150,678 84,216 79 % 250,965 156,653 60 %
Outdoor 106,059 106,856 -1 % 190,044 183,022 4 %
Aviation 97,295 88,042 11 % 193,289 168,511 15 %
Marine 73,780 72,748 1 % 133,783 123,044 9 %
 
Gross profit % 57 % 55 % 57 % 54 %
 
Operating profit % 28 % 24 % 25 % 20 %
 
Pro forma diluted EPS (1) $ 1.02 $ 0.76 34 % $ 1.57 $ 1.16 35 %
 
(1) See attached table for reconciliation of GAAP EPS to pro forma diluted EPS
 

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »



Review Article Be the first to review this article
HP

Autodesk - DelCAM

Featured Video
Jobs
CAD Systems Administrator for KLA-Tencor at Milpitas, CA
Senior Mechanical Engineer for Verb Surgical at Mountain View, CA
Principal Research Mechatronics Engineer for Verb Surgical at Mountain View, CA
Lead Geospatial Analyst for Alion at McLean, VA
Industrial Designer Intern – Spring 2017 for Nvidia at Santa Clara, CA
Upcoming Events
SOLIDWORKS 2017 Launch Event – Walsall at Village Hotel Club, Walsall, WS2 8TJ Walsall United Kingdom - Mar 30, 2017
PI APPAREL Hong Kong 2017 at SHANGRI-LA KOWLOON 64 Mody Road Tsim Sha Tsui East Kowloon Hong Kong - Apr 5 - 6, 2017
SOLIDWORKS intro and hands on session – Slough at Baylis House, Slough, Berkshire, SL1 3PB Slough United Kingdom - Apr 7, 2017
Engineer 3D! Training + Technology Conference at Hyatt Regency Milwaukee 333 West Kilbourn Avenue Milwaukee WI - Apr 25 - 26, 2017
MasterCAM



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise