Garmin Ltd.
Income Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.12B | $3.05B | $2.82B | $2.87B | $2.63B | $2.72B | $2.76B | $2.69B |
| Cost of Revenue | $1.32B | $1.36B | $1.28B | $1.27B | $1.22B | $1.28B | $1.42B | $1.34B |
| Gross Profit | $1.80B | $1.69B | $1.54B | $1.60B | $1.41B | $1.44B | $1.34B | $1.35B |
| Gross Margin | 57.6% | 55.4% | 54.6% | 55.9% | 53.5% | 53.0% | 48.5% | 50.1% |
| Operating Expenses | ||||||||
| Research & Development | $511.6M | $468.0M | $427.0M | $395.1M | $364.9M | $325.8M | $298.6M | $277.3M |
| SG&A Expense | $438.0M | $410.6M | $394.9M | $372.0M | $355.4M | $369.8M | $341.2M | $287.8M |
| Operating Income | $683.6M | $632.9M | $549.6M | $690.6M | $574.0M | $604.2M | $553.8M | $636.7M |
| Operating Margin | 21.9% | 20.8% | 19.5% | 24.1% | 21.8% | 22.2% | 20.1% | 23.7% |
| Interest Expense | — | — | — | — | — | — | — | $1.2M |
| Pretax Income | $697.1M | $638.6M | $567.2M | $723.7M | $653.6M | $624.5M | $584.2M | $577.3M |
| Income Tax Expense | $-11.9M | $120.9M | $111.0M | $359.5M | $41.1M | $82.1M | $63.3M | $-7.3M |
| Net Income | $709.0M | $517.7M | $456.2M | $364.2M | $612.4M | $542.4M | $520.9M | $584.6M |
| Net Margin | 22.7% | 17.0% | 16.2% | 12.7% | 23.3% | 20.0% | 18.9% | 21.7% |
| EPS (Basic) | $3.77 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| EPS (Diluted) | $3.76 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | 187.8M | 188.3M | 190.1M | 192.5M | 194.8M | 194.32B | 193.52B | 196.39B |
| Shares Outstanding (Diluted) | 188.7M | 188.8M | 190.5M | 193.6M | 195.7M | 195.62B | 194.31B | 197.41B |
| Dividends Per Share | $1.53 | — | — | $0.00 | $0.00 | $0.00 | $0.00 | — |