Garmin Ltd Q4 Profit Increases, beats estimates

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

The company's earnings came in at $542.125 million, or $2.82 per share. This compares with $293.272 million, or $1.53 per share, in last year's fourth quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $330.863 million or $1.72 per share for the period.

Analysts on average 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 13.5% to $1.482 billion from $1.306 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings (Q4): $542.125 Mln. vs. $293.272 Mln. last year. -EPS (Q4): $2.82 vs. $1.53 last year. -Analyst Estimate: $1.39 -Revenue (Q4): $1.482 Bln vs. $1.306 Bln last year.