Garmin sales increased by 6 percent in the outdoor division for the fourth quarter of last year, driven by the strength of outdoor wearables, although gross and operating margins for the segment were down slightly. Sales for the fitness segment were up by 14 percent for the three months, with more demand for wellness, running and cycling products. For the full year, sales of Garmin's outdoor products reached a little over $425 million, down by 1 percent, while fitness products generated a turnover of $661.6 million, which was an increase of 16 percent. The entire group's sales slipped by 2 percent to $2,820.3 million and its gross profit margin contracted by 1.3 percentage points. The operating profit margin shrank by 4.6 percent to 19.5 percent but partly due to reduced tax provisions, Garmin still ended the year with an increase of 25.3 percent in net profit to $456.2 million.
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