Garmin Ltd. (GRMN) Tops Q2 EPS by 7c; Raises Outlook
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Garmin reports second quarter revenue and earnings growth; raises guidance
August 2, 2017 7:00 AM EDTSCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (Nasdaq: GRMN) today announced results for the second quarter ended July 1, 2017.
Highlights for the second quarter 2017 include:
Total revenue of $817 million, growing 1% over the prior year, with outdoor, aviation, marine and fitness collectively growing 8% over the prior year quarter and contributing 74% of total revenue Gross margin improved to 58.5% compared to 57.0% in the prior year quarter Operating margin improved to 24.9% compared to 24.7% in the prior year quarter Operating income was $203 million, growing 1% over... More