SCHAFFHAUSEN, Switzerland (AP) — SCHAFFHAUSEN, Switzerland (AP) — Garmin Ltd. (GRMN) on Wednesday reported fourth-quarter earnings of $528.7 million.
The Schaffhausen, Switzerland-based company said it had profit of $2.73 per share. Earnings, adjusted for non-recurring costs, were $2.79 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.39 per share.
The maker of personal navigation devices posted revenue of $2.12 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $2.01 billion.
For the year, the company reported profit of $1.66 billion, or $8.59 per share. Revenue was reported as $7.25 billion.
Garmin expects full-year earnings to be $9.35 per share, with revenue expected to be $7.9 billion.
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