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 golf devices, fēnix® 3 HR with Garmin Elevate™ wrist heart rate technology, Varia Vision™ in-sight display, and the Garmin Drive™ line of PNDs

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