Garmin reports fourth quarter results

The following table includes supplemental financial information for the consumer auto and auto OEM operating segments that management believes is useful.

Garmin Ltd. And Subsidiaries

 

Net Sales, Gross Profit and Operating Income by Segment (Unaudited)

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Auto

 

 

 

 

 

 

 

Fitness

 

 

Outdoor

 

 

Aviation

 

 

Marine

 

 

Total
Auto

 

 

Consumer
Auto

 

 

Auto
OEM

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13-Weeks Ended December 26, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

470,811

 

 

$

411,935

 

 

$

156,969

 

 

$

171,579

 

 

$

140,111

 

 

$

78,552

 

 

$

61,559

 

 

$

1,351,405

 

Gross profit

 

 

250,603

 

 

 

270,627

 

 

 

114,237

 

 

 

96,347

 

 

 

59,169

 

 

 

41,516

 

 

 

17,653

 

 

 

790,983

 

Operating income

 

 

128,809

 

 

 

179,028

 

 

 

33,718

 

 

 

41,530

 

 

 

(11,819

)

 

 

15,836

 

 

 

(27,655

)

 

 

371,266

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13-Weeks Ended December 28, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

372,520

 

 

$

294,819

 

 

$

193,143

 

 

$

115,779

 

 

$

125,972

 

 

$

88,868

 

 

$

37,104

 

 

$

1,102,233

 

Gross profit

 

 

179,799

 

 

 

194,601

 

 

 

137,537

 

 

 

68,935

 

 

 

58,584

 

 

 

41,945

 

 

 

16,639

 

 

 

639,456

 

Operating income

 

 

73,490

 

 

 

115,701

 

 

 

62,778

 

 

 

21,663

 

 

 

2,891

 

 

 

14,788

 

 

 

(11,897

)

 

 

276,523

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

52-Weeks Ended December 26, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

1,317,498

 

 

$

1,128,081

 

 

$

622,820

 

 

$

657,848

 

 

$

460,326

 

 

$

275,493

 

 

$

184,833

 

 

$

4,186,573

 

Gross profit

 

 

697,539

 

 

 

739,777

 

 

 

453,008

 

 

 

384,450

 

 

 

206,562

 

 

 

139,864

 

 

 

66,698

 

 

 

2,481,336

 

Operating income

 

 

318,884

 

 

 

441,085

 

 

 

137,203

 

 

 

175,724

 

 

 

(18,656

)

 

 

41,464

 

 

 

(60,120

)

 

 

1,054,240

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

52-Weeks Ended December 28, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

1,047,527

 

 

$

917,567

 

 

$

735,458

 

 

$

508,850

 

 

$

548,103

 

 

$

365,511

 

 

$

182,592

 

 

$

3,757,505

 

Gross profit

 

 

532,604

 

 

 

598,443

 

 

 

543,385

 

 

 

302,949

 

 

 

256,595

 

 

 

172,218

 

 

 

84,377

 

 

 

2,233,976

 

Operating income

 

 

191,858

 

 

 

334,041

 

 

 

252,943

 

 

 

109,876

 

 

 

56,868

 

 

 

63,299

 

 

 

(6,431

)

 

 

945,586

 

Garmin Ltd. And Subsidiaries

Net Sales by Geography (Unaudited)

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13-Weeks Ended

 

 

52-Weeks Ended

 

 

December 26,

 

 

December 28,

 

 

YoY

 

 

December 26,

 

 

December 28,

 

 

YoY

 

 

2020

 

 

2019

 

 

Change

 

 

2020

 

 

2019

 

 

Change

Net sales

 

$

1,351,405

 

 

$

1,102,233

 

 

23%

 

 

$

4,186,573

 

 

$

3,757,505

 

 

11%

Americas

 

 

595,720

 

 

 

528,362

 

 

13%

 

 

 

1,968,080

 

 

 

1,817,770

 

 

8%

EMEA

 

 

536,822

 

 

 

407,908

 

 

32%

 

 

 

1,579,749

 

 

 

1,350,533

 

 

17%

APAC

 

 

218,863

 

 

 

165,963

 

 

32%

 

 

 

638,744

 

 

 

589,202

 

 

8%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EMEA - Europe, Middle East and Africa

APAC - Asia Pacific and Australian Continent


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