Garmin today reported its fourth quarter 2017 results. The Swiss-based firm saw its sales increase 3% to $888 million vs the same quarter of 2016.
Adjusted earnings came in at $0.79 per share, which is an improvement of 8% year-over-year. When it comes to segment performance, Outdoor, Aviation and Marine grew double-digits compared to the prior-year period, whereas the Auto segment nosedived 14%.
Dividend Update
Garmin’s board has declared quarterly dividend of $0.51 per share with March 30, 2018 as the payment date and March 15, 2018 as the record date.
2018 Outlook
The company expects its 2018 revenue to be approx. $3.2 billion. In addition, it expects adjusted earnings to be approx $3.05 per share. Garmin’s Board plans to give $2.12 per share as dividends during the year.
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