Garmin (GRMN) FY2007 results: revenue $3.2 billion
Garmin Ltd. (GRMN) reported revenue of $3.2 billion for fiscal 2007, the year ended 29 December 2007. Net income was $855 million, and diluted earnings per share $3.89. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2010.
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
| $ million | FY2007 | Last 8 years |
|---|---|---|
| Revenue | 3,180 | |
| Cost of revenue | 1,717 | |
| Gross profit | 1,463 | |
| Gross margin | 46.0% | |
| Research and development | 159 | |
| Selling, general and administrative | 190 | |
| Operating income | 907 | |
| Operating margin | 28.5% | |
| Interest expense | 0.2 | |
| Pre-tax income | 978 | |
| Income tax | 123 | |
| Effective tax rate | 12.6% | |
| Net income | 855 | |
| Net margin | 26.9% | |
| Diluted EPS | $3.89 |
$ million except per share.
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Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.Cash flow
| $ million | FY2007 | Last 8 years |
|---|---|---|
| Operating cash flow | 682 | |
| Capital expenditure | 157 | |
| Free cash flow | 525 | |
| Free cash flow margin | 16.5% | |
| Cash from investing | -176 | |
| Cash from financing | -136 | |
| Buybacks | 7.8 | |
| Dividends paid | 163 |
Balance sheet
| $ million | FY2007 | Last 8 years |
|---|---|---|
| Shareholders' equity | 2,351 | |
| Cash and equivalents | 708 |
10-K for the year ended 29 December 2007, filed 24 February 2010: the filing.