Earnings release
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GARMIN . Schaffhausen , Switzerland / July 28 , 2021 / Business Wire - Garmin® Ltd. ( NASDAQ : GRMN ) , today announced results for the second quarter ended June 26 , 2021 . Highlights for second quarter 2021 include : Total revenue of $ 1.33 billion , a 53 % increase over the prior year quarter with double - digit growth in all segments Gross margin of 58.8 % compared to 59.3 % in the prior year quarter Operating margin improved to 28.0 % compared to 21.7 % in the prior year quarter Operating income of $ 371 million , a 97 % increase over the prior year quarter GAAP EPS was $ 1.64 and pro forma EPS ( 1 ) was $ 1.68 , representing 85 % growth in pro forma EPS over the prior year quarter ● ● Garmin announces second quarter results Company reports record second quarter revenue and operating income Net sales Garmin Autoland was awarded the 2020 Robert J. Collier Trophy , which recognizes the greatest achievements in aeronautics or astronautics in America Expanded our family of health and fitness smartwatches with the launch of Venu 2 and Venu 2S Launched Descent Mk2S , our smallest watch - style dive computer ( In thousands , except per share information ) Fitness Outdoor Aviation Marine Auto Gross margin % Operating income % June 26 , 2021 $ 1,326,905 413,201 323,405 180,832 261,790 147,677 GAAP diluted EPS Pro forma diluted EPS ( 1 ) $ 58.8 % 28.0 % 1.64 1.68 13 - Weeks Ended June 27 , 2020 869,867 294,642 206,200 126,140 157,827 85,058 $ LA CA 59.3 % 21.7 % 0.96 0.91 YoY Change 53 % 40 % 57 % 43 % 66 % 74 % 71 % 85 % June 26 , 2021 $ 2,399,232 721,326 579,859 354,721 471 , 163 272,163 59.3 % 25.9 % $ 2.78 $ 2.85 26 - Weeks Ended June 27 , 2020 $ 1,725,975 518,242 381,302 314,739 320,832 190,860 LA GA $ 59.2 % 21.2 % 1.80 1.82 YoY Change 39 % 39 % 52 % 13 % 47 % 43 % ( 1 ) See attached Non - GAAP Financial Information for discussion and reconciliation of non - GAAP financial measures , including pro forma diluted EPS 54 % 57 %