Garmin Ltd Q4 adjusted earnings Beat Estimates

(RTTNews) - Garmin Ltd (GRMN) released earnings for its fourth quarter that advanced from the same period last year.

The company's earnings totaled $360.79 million, or $1.89 per share. This compares with $190.15 million, or $1.00 per share, in last year's fourth quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $246.38 million or $1.29 per share for the period.

Analysts had expected the company to earn $1.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.3% to $1.10 billion from $0.93 billion last year.

Garmin Ltd earnings at a glance:

-Earnings (Q4): $246.38 Mln. vs. $193.60 Mln. last year. -EPS (Q4): $1.29 vs. $1.02 last year. -Analysts Estimate: $1.04 -Revenue (Q4): $1.10 Bln vs. $0.93 Bln last year.