SCHAFFHAUSEN, Switzerland (AP) — SCHAFFHAUSEN, Switzerland (AP) — Garmin Ltd. (GRMN) on Wednesday reported fourth-quarter net income of $542.1 million.
On a per-share basis, the Schaffhausen, Switzerland-based company said it had net income of $2.82. Earnings, adjusted for non-recurring gains, were $1.72 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.
The maker of personal navigation devices posted revenue of $1.48 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.4 billion.
For the year, the company reported profit of $1.29 billion, or $6.71 per share. Revenue was reported as $5.23 billion.
Garmin expects full-year earnings to be $5.40 per share, with revenue expected to be $5.75 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GRMN at https://www.zacks.com/ap/GRMN