It was a good quarter for Garmin, whose stock is pacing for an all-time high and leading the S&P 500 in late-morning trading. The company reported fourth-quarter profit ahead of expectations on Wednesday,

While the stock has pulled back from its all-time record high of just under $242 per share, as of Friday morning, shares still gained almost 7% this week on the report, according to data provided by S&P Global Market Intelligence. The stock has also jumped almost 90% over the last year.

Key Takeaways Garmin's fourth-quarter results and full-year outlook exceeded analysts' expectations, sending shares to an all-time high Wednesday.The maker of navigation and fitness devices said its full-year revenue reached a record high.