Garmin Fitness, Outdoor Finish 2016 Strong
Garmin bucked the conventional wisdom that the fitness band market is saturated with solid growth in the final quarter from wearables in both its Fitness and Outdoor segments. Fitness segment sales jumped 20% to $274,052,000 from $228,740,000 and operating income increased 15% to $46,175,000 from $40,288,000 on a 52% gross margin. Wearables using the new Elevate wrist heart rate technology sold well in the quarter as did the kids’ vívofit jr. band. For the full-year, sales at GRMN’s largest contributing segment gained 24% ... Log in to view full article.