The information for Garmin Ltd.’s earnings call is as follows:

When:				Wednesday, August 2, 2017 at 10:30 a.m. Eastern
Where:				http://www.garmin.com/en-US/company/investors/events/
How:				Simply log on to the web at the address above or call to listen in at 855-757-3897

An archive of the live webcast will be available until August 3, 2018 on the Garmin website at www.garmin.com. To access the replay, click on the Investor Relations link and select the Quarterly and Annual Earnings page.

This release includes projections and other forward-looking statements regarding Garmin Ltd. and its business that are commonly identified by words such as “would,” “may,” “expects,” “estimates,” “plans,” “intends,” “projects,” and other words or phrases with similar meanings. Any statements regarding the Company’s GAAP and pro forma estimated earnings, EPS, and effective tax rate, and the Company’s expected segment revenue growth rates, consolidated revenue, gross margins, operating margins, currency movements, expenses, pricing, new products to be introduced in 2017, statements relating to possible future dividends and the Company’s plans and objectives are forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors that are described in the Annual Report on Form 10-K for the year ended December 31, 2016 filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of Garmin’s 2016 Form 10-K can be downloaded from http://www.garmin.com/aboutGarmin/invRelations/finReports.html.

Garmin, the Garmin logo, the Garmin delta, fēnix, Approach, Rino, Foretrex, G1000, G5000, quatix, and VIRB are trademarks of Garmin Ltd. or its subsidiaries and are registered in one or more countries, including the U.S.; Garmin Elevate and QuickFit are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved

Garmin Ltd. And Subsidiaries
Condensed Consolidated Statements of Income (Unaudited)
(In thousands, except per share information)
				13-Weeks Ended							26-Weeks Ended
				July 1,			June 25,				July 1,				June 25,
				2017			2016				2017				2016
Net sales				$816,885			$811,609				$1,455,431				$1,435,648
Cost of goods sold				339,027			348,651				605,450				632,840
Gross profit				477,858			462,958				849,981				802,808
Advertising expense				42,009			44,252				73,533				76,485
Selling, general and administrative expense				105,251			103,677				207,303				199,287
Research and development expense				127,248			114,355				249,450				222,559
Total operating expense				274,508			262,284				530,286				498,331
Operating income				203,350			200,674				319,695				304,477
Other income (expense):
Interest income				9,281			8,455				17,724				15,883
Foreign currency gains (losses)				15,110			(5,743	)			(22,387	)			(10,582	)
Other income				314			415				715				1,570
Total other income (expense)				24,705			3,127				(3,948	)			6,871
Income before income taxes				228,055			203,801				315,747				311,348
Income tax provision (benefit)				57,105			42,737				(93,015	)			62,193
Net income				$170,950			$161,064				$408,762				$249,155
Net income per share:
Basic				$0.91			$0.85				$2.17				$1.32
Diluted				$0.91			$0.85				$2.17				$1.31
Weighted average common shares outstanding:
Basic				187,757			188,892				187,974				189,195
Diluted				188,492			189,356				188,691				189,491

Garmin Ltd. And Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except per share information)
				(Unaudited)
				July 1,				December 31,
				2017				2016
Assets
Current assets:
Cash and cash equivalents				$859,560				$846,883
Marketable securities				248,904				266,952
Accounts receivable, net				514,942				527,062
Inventories, net				525,167				484,821
Deferred costs				49,603				47,395
Prepaid expenses and other current assets				106,758				89,903
Total current assets				2,304,934				2,263,016
Property and equipment, net				517,290				482,878
Marketable securities				1,200,432				1,213,285
Restricted cash				117				113
Deferred income taxes				265,719				110,293
Noncurrent deferred costs				62,741				56,151
Intangible assets, net				309,318				305,002
Other assets				88,221				94,395
Total assets				$4,748,772				$4,525,133
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable				$161,398				$172,404
Salaries and benefits payable				86,955				88,818
Accrued warranty costs				37,012				37,233
Accrued sales program costs				51,531				80,953
Deferred revenue				145,603				146,564
Accrued royalty costs				29,378				36,523
Accrued advertising expense				23,180				37,440
Other accrued expenses				95,626				70,469
Income taxes payable				10,961				16,163
Dividend payable				286,865				96,168
Total current liabilities				928,509				782,735
Deferred income taxes				56,691				61,220
Noncurrent income taxes				131,887				121,174
Noncurrent deferred revenue				145,582				140,407
Other liabilities				1,656				1,594
Stockholders' equity:
Shares, CHF 0.10 par value, 198,077 shares authorized and issued; 187,703 shares outstanding at July 1, 2017 and 188,565 shares outstanding at December 31, 2016				17,979				17,979
Additional paid-in capital				1,839,587				1,836,047
Treasury stock				(496,342	)			(455,964	)
Retained earnings				2,083,076				2,056,702
Accumulated other comprehensive income (loss)				40,147				(36,761	)
Total stockholders' equity				3,484,447				3,418,003
Total liabilities and stockholders' equity				$4,748,772				$4,525,133

Garmin Ltd. And Subsidiaries
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
				26-Weeks Ended
				July 1,				June 25,
				2017				2016
Operating activities:
Net income				$408,762				$249,155
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation				29,558				26,657
Amortization				13,273				14,852
(Gain) loss on sale or disposal of property and equipment				(56	)			64
Provision for doubtful accounts				351				1,548
Deferred income taxes				(159,719	)			(6,074	)
Unrealized foreign currency loss				25,928				3,198
Provision for obsolete and slow moving inventories				11,072				15,892
Stock compensation expense				20,385				19,507
Realized loss (gain) on marketable securities				584				(188	)
Changes in operating assets and liabilities:
Accounts receivable				23,785				24,415
Inventories				(34,621	)			(16,672	)
Other current and non-current assets				(6,328	)			(865	)
Accounts payable				(20,942	)			(32,291	)
Other current and non-current liabilities				(48,162	)			(10,806	)
Deferred revenue				2,988				(13,066	)
Deferred costs				(8,383	)			(6,089	)
Income taxes payable				5,352				10,135
Net cash provided by operating activities				263,827				279,372
Investing activities:
Purchases of property and equipment				(39,812	)			(28,614	)
Proceeds from sale of property and equipment				121				-
Purchase of intangible assets				(6,336	)			(2,831	)
Purchase of marketable securities				(243,880	)			(457,433	)
Redemption of marketable securities				278,719				466,526
Change in restricted cash				-				2
Acquisitions, net of cash acquired				(7,500	)			(62,137	)
Net cash used in investing activities				(18,688	)			(84,487	)
Financing activities:
Dividends paid				(191,691	)			(193,111	)
Purchase of treasury stock under share repurchase plan				(63,957	)			(45,097	)
Purchase of treasury stock related to equity awards				(3,582	)			(173	)
Proceeds from issuance of treasury stock related to equity awards				10,316				8,970
Tax benefit from issuance of equity awards				-				2
Net cash used in financing activities				(248,914	)			(229,409	)
Effect of exchange rate changes on cash and cash equivalents				16,452				2,918
Net increase (decrease) in cash and cash equivalents				12,677				(31,606	)
Cash and cash equivalents at beginning of period				846,883				833,070
Cash and cash equivalents at end of period				$859,560				$801,464

Garmin Ltd. And Subsidiaries
Net Sales, Gross Profit, and Operating Income by Segment (Unaudited)
(In thousands)
				Reportable Segments
				Outdoor			Fitness			Marine			Auto			Aviation			Total
13-Weeks Ended July 1, 2017
Net sales				$194,776			$181,022			$108,545			$208,482			$124,060			$816,885
Gross profit				$127,813			$102,139			$62,368			$93,037			$92,501			$477,858
Operating income				$74,284			$37,487			$24,295			$27,926			$39,358			$203,350
13-Weeks Ended June 25, 2016
Net sales				$133,096			$212,855			$111,599			$245,728			$108,331			$811,609
Gross profit				$85,224			$119,805			$64,515			$112,988			$80,426			$462,958
Operating income				$48,565			$53,074			$28,548			$39,623			$30,864			$200,674
26-Weeks Ended July 1, 2017
Net sales				$310,652			$318,852			$212,990			$366,006			$246,931			$1,455,431
Gross profit				$201,282			$179,879			$122,116			$162,970			$183,734			$849,981
Operating income				$108,735			$55,959			$42,440			$34,595			$77,966			$319,695
26-Weeks Ended June 25, 2016
Net sales				$229,923			$355,273			$194,479			$441,326			$214,647			$1,435,648
Gross profit				$144,155			$192,100			$108,664			$199,131			$158,758			$802,808
Operating income				$76,450			$69,647			$38,840			$58,190			$61,350			$304,477

Garmin Ltd. And Subsidiaries
Net Sales by Geography (Unaudited)
(In thousands)
			13-Weeks Ended										26-Weeks Ended
			July 1,			June 25,			Yr over Yr				July 1,			June 25,			Yr over Yr
			2017			2016			Change				2017			2016			Change
Net sales			$816,885			$811,609			1	%			$1,455,431			$1,435,648			1	%
Americas			388,092			407,017			-5	%			708,281			724,974			-2	%
EMEA			315,039			309,721			2	%			541,834			535,448			1	%
APAC			113,754			94,871			20	%			205,316			175,226			17	%

EMEA - Europe, Middle East and Africa; APAC - Asia Pacific and Australian Continent

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