Garmin Ltd (GRMN) Tops Q2 EPS by 11c; Maintains FY Outlook
Tweet
Share
E-mailGet Alerts GRMN Hot Sheet
Price: $143.03 +0.17%
Revenue Growth %: +8.7%
Financial Fact:
Total operating expense: 246.36M
Today's EPS Names:
FRSB, DGICA, UXIN, More
Revenue Growth %: +8.7%
Financial Fact:
Total operating expense: 246.36M
Today's EPS Names:
FRSB, DGICA, UXIN, More
Join SI Premium – FREE
Garmin Ltd (NASDAQ: GRMN) reported Q2 EPS of $0.76, $0.11 better than the analyst estimate of $0.65. Revenue for the quarter came in at $697 million versus the consensus estimate of $665.84 million.
Garmin Ltd sees FY2013 EPS of $2.30-$2.40, versus the consensus of $2.37. Garmin Ltd sees FY2013 revenue of $2.5-2.6 billion, versus the consensus of $2.55 billion.
"The second quarter of 2013 was highlighted by stronger than expected revenue performance across all segments," said Cliff Pemble, president and chief executive officer of Garmin Ltd. "We were particularly pleased to generate revenue growth in each of our traditional markets. While our performance was strong in second quarter and we believe that the outlook for growth in 2013 for the traditional markets is positive, we also anticipate that declines in the PND market will continue to be a significant headwind. Third quarter will be particularly challenging as we compare against a period of strong prior year sell-in driven by the timing of new product introductions and end-of-life promotions. Given these factors, we are maintaining our full year revenue and EPS guidance. Longer term, our primary focus remains innovation that is expected to fuel sustained revenue and EPS growth."
For earnings history and earnings-related data on Garmin Ltd (GRMN) click here.
Garmin Ltd sees FY2013 EPS of $2.30-$2.40, versus the consensus of $2.37. Garmin Ltd sees FY2013 revenue of $2.5-2.6 billion, versus the consensus of $2.55 billion.
"The second quarter of 2013 was highlighted by stronger than expected revenue performance across all segments," said Cliff Pemble, president and chief executive officer of Garmin Ltd. "We were particularly pleased to generate revenue growth in each of our traditional markets. While our performance was strong in second quarter and we believe that the outlook for growth in 2013 for the traditional markets is positive, we also anticipate that declines in the PND market will continue to be a significant headwind. Third quarter will be particularly challenging as we compare against a period of strong prior year sell-in driven by the timing of new product introductions and end-of-life promotions. Given these factors, we are maintaining our full year revenue and EPS guidance. Longer term, our primary focus remains innovation that is expected to fuel sustained revenue and EPS growth."
For earnings history and earnings-related data on Garmin Ltd (GRMN) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gilead Sciences (GILD) Misses Q1 EPS by 288c
- Skechers USA (SKX) Tops Q1 EPS by 23c, Beats on Revenue; Offers FY24 Guidance
- MidWestOne Financial Group, Inc. (MOFG) Misses Q1 EPS by 15c
Create E-mail Alert Related Categories
Earnings, Guidance, Management CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
