Garmin Ltd Reports 2% Fall In Q4 Profit

(RTTNews) - Garmin Ltd (GRMN) reported earnings for fourth quarter that declined from last year.

The company said its profit declined to $137.94 million, or $0.73 per share. This was down from $140.44 million, or $0.74 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.57 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 10.2% to $860.77 million. This was up from $781.36 million last year.

Garmin Ltd earnings at a glance:

-Earnings (Q4): $137.94 Mln. vs. $140.44 Mln. last year. -Earnings Decline (Y-o-Y): -1.8% -EPS (Q4): $0.73 vs. $0.74 last year. -EPS Decline (Y-o-Y): -1.4% -Analysts Estimate: $0.57 -Revenue (Q4): $860.77 Mln vs. $781.36 Mln last year. -Revenue Change (Y-o-Y): 10.2%

-Guidance: Full year EPS guidance: $2.65 Full year revenue guidance: $3.02 Bln