Garmin (GRMN) Tops Q3 EPS by 33c, Top Line Beat Too
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Garmin (Nasdaq: GRMN) reports Q3 earnings of $1.02 per share, above the consensus of $0.69 and $0.87 last year. Revenues fell 10% to $781 million, versus the consensus of $703.9 million.
Dr. Min Kao, Chairman and Chief Executive Officer, said "We saw steady sequential improvement in our consumer segments during the third quarter and are very pleased to return to year-over-year earnings per share growth in the quarter. While revenues fell year-over-year, the rate of decline moderated at 10% but our margin improvements more than offset that decline. We remain focused on efforts to improve productivity and manage expenses as the consumer spending environment continues to recover."
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