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Article Date: February 2018
Word Count: 166

Garmin Outdoor Finishes 2017 with Double-Digit Gains


GRMN’s Outdoor segment sales increased 16% to $203,278,000 in the 13 weeks ended Dec. 30 from $175,397,000 in the 14-week final quarter in 2016, while the Fitness segment eked out a 1% sales gain to $276,195,000 from $274,052,000 after three quarters of declines. Outdoor gross margin expanded 190 basis points to 63.4% boosting operating income 26% higher to $73,322,000 from $58,314,000. Outdoor sales were driven by wearables and growing the inReach satellite communication subscription service. Fitness operating income gained 24% to $57,315,000 from ... Log in to view full article.

 


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