The company said net sales for fiscal 2023 rose 8% from the prior year, and total unit sales grew about 8%, from 15.0 million units in 2022 to about 16.2 million units in 2023.

1. 01

   The company said net sales for fiscal 2023 rose 8% from the prior year, and total unit sales grew about 8%, from 15.0 million units in 2022 to about 16.2 million units in 2023.

2. 02

   The company said gross profit dollars for fiscal 2023 rose 7%, while consolidated gross margin was relatively flat. It said gross margin rose 350 basis points in fitness, 110 basis points in outdoor and 170 basis points in aviation, and fell 870 basis points in auto OEM.

3. 03

   The company said it recorded an income tax benefit of $89.3 million for fiscal 2023, which included a benefit of $181.4 million from the revaluation of Switzerland deferred tax assets in Q4. Net income rose 32% to $1,289.6 million from $973.6 million.

4. 04

   The company said cash provided by operating activities was $1,376.3 million for fiscal 2023, compared with $788.3 million a year earlier, and that as of December 30, 2023 it had about $3.1 billion in cash, cash equivalents and marketable securities.

Key figures

Fiscal year ended December 30, 2023

Revenue

$5.2B

Operating income

$1.1B

Net income

$1.3B

EPS

$6.71

Gross profit

$3.0B

Operating cash flow

$1.4B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.