Garmin (GRMN) Tops Q3 EPS by 33c, Top Line Beat Too
GRMN Hot Sheet
EPS Growth %: +4.7%Financial Fact:
Net income: 86.86M
Today's EPS Names:
DATE, MLAB, ZLC, More
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."
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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