February 20, 2019 / 12:08 PM / a year ago

RPT-Garmin fourth-quarter profit beats expectations

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Feb 20 (Reuters) - Navigation device maker Garmin Ltd on Wednesday reported a rise in quarterly profit that beat Wall Street estimates, driven by higher demand for its fitness and outdoor gadgets.

Net income rose to $190.15 million, or $1 per share, in the fourth quarter ended Dec.29, from $142.55 million, or 75 cents per share, a year earlier.

Excluding items, it earned $1.02 per share and beat the average analyst estimate of 80 cents, according to IBES data from Refinitiv.

Net sales rose to $932.1 million from $897.3 million. (Reporting by Sayanti Chakraborty in Bengaluru; Editing by Arun Koyyur)

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