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Article Date: February 2020
Word Count: 223

Garmin Finishes 2019 with Big Gains in Fitness and Outdoor


Fitness segment revenue was up 34% to $372,520,000 from $277,014,000 in the fourth quarter, led by sales of advanced wearables and contributions from Tacx, the indoor training and cycling software company the company acquired earlier in the year. Tacx sales helped push the segment to 22% full year growth, bringing in $1,047,527,000 over $858,329,000 in 2018. Outdoor sales grew 16% to $294,819,000 from $254,568,000, with “significant” contributions from adventure watches. The segment was up 13% for full year sales to $917,567,000, over $809,883,000. Fitness operating income was up 26% to $73,490,000 from $58,446,000 in Q4 and up 6% to $191,858,000 ... Log in to view full article.

 


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