Garmin Ltd. (GRMN) Tops Q1 EPS by 7c; Guides In-Line

Garmin Ltd. (NASDAQ: GRMN) reported Q1 EPS of $0.49, $0.07 better than the analyst estimate of $0.42. Revenue for the quarter came in at $624 million versus the consensus estimate of $585.89 million.

GUIDANCE:

Garmin Ltd. sees FY2016 EPS of $2.25, versus the consensus of $2.26. Garmin Ltd. sees FY2016 revenue of $2.82 billion, versus the consensus of $2.81 billion.

“We started out 2016 strong with total revenue growth of 7% led by robust double digit growth in our marine and outdoor segments, and high single digit growth in our fitness and aviation segments,” said Cliff Pemble, president and chief executive officer (CEO) of Garmin Ltd. “With the majority of the year still ahead of us, we recognize that there are many challenges and uncertainties yet to be encountered. We will continue to focus on innovation and execution to deliver compelling products to the markets we serve.”

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

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