Garmin reports strong revenue and operating income growth for first quarter 2020; withdraws fiscal 2020 guidance due to COVID-19 economic uncertainty

Free cash flow

Management believes that free cash flow is an important financial measure because it represents the amount of cash provided by operations that is available for investing and defines it as operating cash flows less capital expenditures for property and equipment. Management believes that excluding purchases of property and equipment provides a better understanding of the underlying trends in the Company’s operating performance and allows more accurate comparisons of the Company’s operating results to historical performance. This metric may also be useful to investors, but should not be considered in isolation as it is not a measure of cash flow available for discretionary expenditures. The most comparable GAAP measure is net cash provided by operating activities.

Garmin Ltd. And Subsidiaries

 

Free Cash Flow

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

13-Weeks Ended

 

 

 

March 28,

 

 

March 30,

 

 

 

2020

 

 

2019

 

Net cash provided by operating activities

 

$

225,874

 

 

$

164,582

 

Less: purchases of property and equipment

 

 

(41,361

)

 

 

(30,094

)

Free Cash Flow

 

$

184,513

 

 

$

134,488

 

Category: Earnings

Category: Corporate



Contact:

Investor Relations Contact:
Teri Seck
913/397-8200
investor.relations@garmin.com

Media Relations Contact:
Carly Hysell
913/397-8200
media.relations@garmin.com



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