Garmin Ltd. (GRMN) Tops Q1 EPS by 7c; Guides In-Line
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Garmin Reports Strong First Quarter 2016 Sales
April 27, 2016 7:01 AM EDTSCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (Nasdaq: GRMN News) today announced results for the first quarter ended March 26, 2016.
Highlights in the quarter include:
Total revenue of $624 million, growing 7% over the prior year, with outdoor, fitness, aviation and marine collectively growing 17% over the year ago quarter and contributing 69% of total revenue Gross and operating margins of 54.5% and 16.6%, respectively GAAP EPS of $0.46 and Pro forma EPS(1) of $0.49 for first quarter 2016 Completed the acquisition of DeLorme, the pioneer of the inReach® series of affordable two-way satellite... More