Garmin Q4 profit drops but tops expectations

By Toby Hill

Fitness revenue up 14 percent in quarter on strength of wellness, running and cycling products.

OLATHE, Kan. (BRAIN) — Sales and profit declined at Garmin Ltd. in the fourth quarter, but the company’s fitness business — which includes cycling products — posted its strongest gains for the period.

Fourth-quarter revenue slipped 3 percent to $781 million due to a decline in the overall market for personal navigation devices that saw Garmin’s automotive segment post a 21 …read more

Via:: Bicycle Retailer and Industry News