The company said consolidated revenue for the 13-week period ended March 30, 2024 was $1.38 billion, up 20% from the prior-year quarter, and operating income was $298 million, up 51%.

1. 01

   The company said consolidated revenue for the 13-week period ended March 30, 2024 was $1.38 billion, up 20% from the prior-year quarter, and operating income was $298 million, up 51%.

2. 02

   The company said Fitness revenue rose 40% and Auto OEM revenue rose 58% in the 13-week period. It cited higher shipments of domain controllers to BMW as the reason for the Auto OEM increase, and the acquisition of JL Audio as the driver of the 17% increase in Marine revenue.

3. 03

   The company said its gross margin was 58.1% (56.9% in the prior-year quarter) and its operating margin was 21.6% (17.2% in the prior-year quarter). Its effective tax rate was 15.6%, compared with 8.8% a year earlier, and the company attributed the change to the increase in Swiss statutory tax rates.

4. 04

   The company said it generated operating cash flow of $435 million and free cash flow of $402 million in the 13-week period, and paid a quarterly dividend of about $140 million. It said it is not updating its full-year revenue guidance of about $5.75 billion or its pro forma EPS guidance of $5.40.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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

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