GARMIN LTD GRMN Income Statement

Garmin ltd (GRMN)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Net sales
3,847	3,757	3,587	3,463	3,402	3,347	3,312	3,253	3,190	3,121	3,112	3,083	3,063	3,045	2,939	2,896	2,858	2,820	2,842	2,868	2,872	2,870	2,827	2,764	2,683	2,631	2,640	2,669	2,691	2,715	2,856	2,851	2,807	2,758	2,686	2,712	2,766	2,689	2,911	3,000	2,940	2,946	2,757	2,887	0	0	0
Cost of goods sold
1,558	1,523	1,443	1,406	1,397	1,367	1,378	1,363	1,339	1,323	1,337	1,340	1,341	1,357	1,317	1,318	1,324	1,281	1,285	1,276	1,255	1,266	1,258	1,241	1,221	1,224	1,254	1,276	1,260	1,277	1,358	1,367	1,423	1,419	1,402	1,427	1,412	1,343	1,458	1,481	1,461	1,502	1,414	1,537	0	0	0
Gross profit
2,289	2,233	2,143	2,056	2,004	1,979	1,934	1,890	1,851	1,797	1,774	1,742	1,721	1,688	1,621	1,578	1,534	1,538	1,556	1,592	1,617	1,604	1,568	1,522	1,462	1,407	1,386	1,392	1,430	1,438	1,498	1,483	1,383	1,338	1,284	1,284	1,353	1,346	1,453	1,519	1,479	1,444	1,342	1,350	0	0	0
Advertising expense
163	164	157	155	157	155	158	160	158	164	173	174	176	177	166	170	171	167	164	160	149	146	127	120	115	112	124	128	137	138	147	152	148	145	133	138	147	144	153	158	149	155	153	166	0	0	0
Selling, general and administrative expenses
528	518	506	496	487	478	481	468	452	437	423	418	416	410	400	397	391	394	389	386	380	372	367	363	359	355	354	354	365	369	369	371	358	341	327	305	293	287	279	283	272	264	261	256	0	0	0
Research and development expense
624	605	588	578	571	567	555	545	531	511	508	494	481	467	445	434	429	427	422	415	404	395	386	375	373	364	355	349	333	325	327	317	307	298	285	282	285	277	276	262	245	238	219	217	0	0	0
Total operating expense
1,317	1,288	1,251	1,230	1,217	1,201	1,195	1,174	1,142	1,114	1,105	1,087	1,075	1,055	1,012	1,002	992	989	976	962	935	913	881	859	847	833	835	833	837	834	843	841	814	784	746	726	725	709	709	704	667	658	634	640	0	0	0
Operating income
971	945	891	826	787	778	739	716	708	683	669	655	646	632	609	575	541	549	579	629	681	690	687	663	614	574	551	559	593	604	654	641	569	553	538	557	628	636	744	814	811	786	708	709	0	0	0
Other income (expense):
Interest income
51	52	54	53	50	47	42	40	38	36	36	35	34	33	31	30	29	29	29	31	33	35	38	37	36	35	34	33	34	35	35	36	35	32	29	27	25	24	25	25	25	23	25	28	0	0	0
Foreign currency losses
1	16	17	7	7	7	46	48	60	22	-15	-43	-64	-31	-39	10	15	-23	1	-41	-61	-4	-3	8	56	35	14	8	-26	-20	-40	-19	-26	-12	-21	-0	-29	-88	-65	-88	-50	-6	-8	1	0	0	0
Other income (expense)
8	5	2	2	5	5	6	4	-0	-0	0	3	3	4	11	12	11	11	3	2	3	1	5	6	7	8	3	3	4	5	5	8	8	9	13	12	9	5	7	3	2	5	-2	-1	0	0	0
Gain/(loss) on sale of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Total other income:
26	41	39	49	48	44	36	47	53	13	21	-5	-26	5	3	53	56	17	34	-7	-24	33	41	53	99	79	52	46	12	20	0	25	17	30	17	33	0	-59	-30	-55	-17	22	19	77	0	0	0
Income before income taxes
998	987	931	875	835	823	775	764	762	697	690	649	619	638	613	628	598	567	614	622	657	723	728	716	714	653	603	605	606	624	654	667	586	584	555	591	628	577	713	758	794	808	727	787	0	0	0
Income tax provision
25	34	149	137	130	129	129	151	162	-11	-19	-33	-48	120	107	127	121	110	80	354	345	359	410	64	71	41	25	74	62	82	76	78	74	63	67	-26	-14	-7	-17	93	101	104	131	149	0	0	0
Net income
973	952	781	738	704	694	646	613	599	709	709	683	668	517	506	500	477	456	534	267	312	364	317	652	642	612	578	530	544	542	578	588	512	520	488	617	642	584	730	665	692	703	596	637	0	0	0
Net income per share:
Basic
0.84	1.89	1.20	1.18	0.74	1.00	0.98	1.01	0.69	0.75	0.81	0.94	1.27	0.77	0.66	0.85	0.46	0.69	0.63	0.72	0.35	1.10	-0.76	0.94	0.61	0.84	0.96	0.88	0.45	0.66	0.72	0.95	0.45	0.86	0.77	0.56	0.49	0.66	1.44	0.68	0.19	1.39	1.07	0.81	0.24	0.83	1.20
Diluted
0.84	1.89	1.19	1.17	0.74	1.01	0.97	1.00	0.68	0.76	0.80	0.94	1.26	0.76	0.66	0.85	0.46	0.69	0.63	0.72	0.35	1.10	-0.76	0.93	0.61	0.83	0.96	0.88	0.45	0.65	0.72	0.95	0.44	0.85	0.77	0.56	0.49	0.66	1.43	0.67	0.19	1.38	1.07	0.81	0.24	0.82	1.19
Weighted average common shares outstanding:
Basic
190	-	190	189	189	-	188	188	0	-	187	187	188	-	0	0	0	-	190	191	191	-	0	0	195	-	195	0	0	-	0	0	0	-	194	194	193	-	194	198	199	-	200	200	200	206	213
Diluted
191	-	190	190	190	-	190	189	0	-	188	188	189	-	0	0	0	-	190	191	192	-	0	0	195	-	196	0	0	-	0	0	0	-	194	194	194	-	195	200	201	-	201	200	200	208	215
Dividends declared per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.00	-	-	-	0.00	2.04	-	-	-	2.04	-	-	-	1.92	-	-	-	-	-	-	-	1.80	-	-	-	2.00	-	-	-1.50	1.50	1.50	-	0.75	0.75	0.00	-	-