2012 Guidance
|
2012 Guidance |
|||||
| Revenue | $2.7 - $2.8B | ||||
| Gross Margin | 49 - 50% | ||||
| Operating Income | $520 - 540 | ||||
| Operating Margin | 19 - 20% | ||||
| EPS (Pro Forma) | $2.45 - $2.60 | ||||
We expect 2012 revenue of $2.7 - $2.8 billion as growth in the outdoor,
fitness, marine and aviation segments offset ongoing declines in the PND
market. We anticipate gross margins to be stable to slightly improving
at 49-50% and operating margins of 19-20%, resulting in a forecasted
2012 earnings per share range of $2.45 - $2.60. This earnings per share
range assumes an effective tax rate of 13% versus 10.8% in 2011 and a
full-year EUR/USD currency exchange rate of 1.30 versus 1.39 in 2011.
