Garmin reports record second quarter revenue and profits; raises guidance

In the first quarter of fiscal 2019, the methodology used to allocate certain selling, general, and administrative expenses to the segments was refined. The Company’s composition of segments did not change. Prior year amounts are presented above as they were originally reported. For comparative purposes, we estimate segment operating income for the 13 weeks ended June 30, 2018 would have been approximately $5 million less for the aviation segment, approximately $4 million more for the marine segment, $1 million more for the outdoor segment, and not significantly different for the fitness and auto segments. We estimate segment operating income for the 26 weeks ended June 30, 2018 would have been approximately $9 million less for the aviation segment, approximately $8 million more for the marine segment, $1 million more for the outdoor segment, and not significantly different for the fitness and auto segments. Also, we estimate segment operating income for the 52 weeks ended December 29, 2018 would have been approximately $18 million less for the aviation segment, approximately $11 million more for the marine segment, approximately $7 million more for the outdoor segment, and not significantly different for the fitness and auto segments.

Garmin Ltd. And Subsidiaries
Net Sales by Geography (Unaudited)
(In thousands)

13-Weeks Ended

 

 

26-Weeks Ended

 

June 29,

 

June 30,

Yr over Yr

 

June 29,

 

June 30,

Yr over Yr

2019

 

2018

Change

 

2019

 

2018

Change

Net sales

$

954,840

$

894,452

7

%

$

1,720,890

$

1,605,325

7

%

Americas

 

470,840

 

437,116

8

%

 

850,296

 

783,091

9

%

EMEA

 

338,595

 

309,116

10

%

 

598,615

 

555,029

8

%

APAC

 

145,405

 

148,220

-2

%

 

271,979

 

267,205

2

%

EMEA - Europe, Middle East and Africa; APAC - Asia Pacific and Australian Continent

Non-GAAP Financial Information

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