GPS provider Garmin Ltd. said Wednesday it had net income of $138.8 million, or 73 cents a share, in the fourth quarter, up from $136.6 million, or 72 cents a share, in the year-earlier period. Adjusted per-share earnings came to 70 cents, ahead of the FactSet consensus of 75 cents. Sales rose to $888.5 million from $860.8 million, also ahead of the FactSet consensus of $871 million. Outdoor, fitness, marine and aviation revenue grew 9% over the year-earlier quarter to account for 78% of total revenue. Looking ahead, Garmin said it expects full-year revenue of about $3.2 billion, compared with a current FactSet consensus of $3.1 billion. EPS is expected to come to about $3.05, ahead of the FactSet consensus of $2.97. Shares were slightly higher premarket, but have gained 29% in the last 12 months, while the S&P 500 has gained 15%.
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