Garmin Reports Q4 and Fiscal 2015 Results

SCHAFFHAUSEN, Switzerland - (BUSINESS WIRE)--February 17, 2016 -Garmin Ltd. (Nasdaq: GRMN - News) today announced results for the fourth quarter ended December 26, 2015.

Highlights in the quarter include:

• Total revenue of $781 million with outdoor, fitness, aviation and marine collectively growing 11% over the year ago quarter and contributing 66% of total revenue
• Gross and operating margins were 52.9% and 18.7%, respectively
• Pro-forma EPS⁽¹⁾ of $0.74 for fourth quarter 2015
• Launched our global Beat Yesterday ™ advertising campaign, designed to highlight the intrinsic motivation that leads to self-improvement
• Recently announced new products available for the first quarter 2016 including a new line up of devices, fēnix golf ® 3 HR with Garmin Elevate ™ wrist heart rate technology, various Vision ™ in-sight display, and the Garmin Drive ™ line of NDPS

Highlights for the fiscal year include:...

• Total revenue of $2,820 million with outdoor, fitness, aviation, and marine collectively growing 9% over 2014 and contributing 63% of total revenue
• Gross and operating margins were 54.6% and