Garmin Ltd Q4 Profit Increases, beats estimates

(RTTNews) - Garmin Ltd (GRMN) reported a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $293.27 million, or $1.53 per share. This compares with $286.14 million, or $1.48 per share, in last year's fourth quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $259.88 million or $1.35 per share for the period.

Analysts on average had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.8% to $1.31 billion from $1.39 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings (Q4): $293.27 Mln. vs. $286.14 Mln. last year. -EPS (Q4): $1.53 vs. $1.48 last year. -Analyst Estimate: $1.11 -Revenue (Q4): $1.31 Bln vs. $1.39 Bln last year.