Garmin Ltd. (GRMN) Tops Q3 EPS by 5c

Garmin Ltd. (NASDAQ: GRMN) reported Q3 EPS of $0.76, $0.05 better than the analyst estimate of $0.71. Revenue for the quarter came in at $706 million versus the consensus estimate of $677.35 million.

Garmin Ltd. sees FY2014 EPS of $3.10, versus the consensus of $3.07. Garmin Ltd. sees FY2014 revenue of $2.85 billion, versus the consensus of $2.81 billion.

“Our strong year continued with a third consecutive quarter of revenue, operating income and pro forma EPS growth. Our non-automotive/mobile segments delivered 24% revenue growth and 70% of our operating profits. We believe we are well positioned with our current product portfolio while also investing for long-term sustained growth through further innovation and diversification,” said Cliff Pemble, president and chief executive officer (CEO) of Garmin Ltd. “Given the strong revenue and margin performance in the third quarter, we are revising our guidance as we now expect our revenue and pro forma EPS for the full year to be approximately $2.85 billion and $3.10, respectively.”

For earnings history and earnings-related data on Garmin Ltd. (GRMN) click here.

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