Garmin Ltd. (GRMN) Misses Q2 EPS by 10c

Garmin Ltd. (NASDAQ: GRMN) reported Q2 EPS of $0.72, $0.10 worse than the analyst estimate of $0.82. Revenue for the quarter came in at $774 million versus the consensus estimate of $775.9 million.

Garmin Ltd. sees FY2015 EPS of $2.65, versus the consensus of $2.78. Garmin Ltd. sees FY2015 revenue of $2.9 billion, versus the consensus of $2.88 billion.

“Like many global companies, Garmin has experienced downward revenue and profit pressure due to recent unfavorable currency movements. In light of this reality, we feel positive about our first half revenue performance,” said Cliff Pemble, president and chief executive officer (CEO) of Garmin Ltd. “With our ongoing research and development efforts and exciting advertising plans, we believe that the foundation for long-term success is being established now.”

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

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