Garmin Ltd Q4 Profit Decreases, But Beats Estimates

(RTTNews) - Garmin Ltd (GRMN) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $435.73 million, or $2.25 per share. This compares with $542.13 million, or $2.82 per share, last year.

Excluding items, Garmin Ltd reported adjusted earnings of $466.28 million or $2.41 per share for the period.

Analysts on average had expected the company to earn $2.02 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 22.9% to $1.822 billion from $1.482 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings: $435.73 Mln. vs. $542.13 Mln. last year. -EPS: $2.25 vs. $2.82 last year. -Revenue: $1.822 Bln vs. $1.482 Bln last year.