Garmin Ltd Q4 adjusted earnings Beat Estimates

(RTTNews) - Garmin Ltd (GRMN) released a profit for fourth quarter that decreased from last year.

The company's profit came in at $333.55 million, or $1.73 per share. This compares with $360.79 million, or $1.89 per share, in last year's fourth quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $333.45 million or $1.73 per share for the period.

Analysts had expected the company to earn $1.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.7% to $1.35 billion from $1.10 billion last year.

Garmin Ltd earnings at a glance:

-Earnings (Q4): $333.45 Mln. vs. $246.38 Mln. last year. -EPS (Q4): $1.73 vs. $1.29 last year. -Analysts Estimate: $1.39 -Revenue (Q4): $1.35 Bln vs. $1.10 Bln last year.