Garmin Ltd. (GRMN) Misses Q1 EPS by 3c
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Garmin Reports Solid First Quarter 2015 Margins and Operating Results
April 29, 2015 7:00 AM EDTSCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (Nasdaq: GRMN) today announced results for the quarter ended March 28, 2015.
Highlights in the quarter include:
Total revenue of $585 million in the first quarter of 2015 with fitness, outdoor, aviation and marine delivering 63% of total revenue and collectively growing 9% over the year ago quarter The relative strength of the US Dollar compared to other major currencies negatively impacted revenue by approximately $38 million, or 7%, in the first quarter of 2015 Gross margin improved from the prior year to 59% while operating margin remained... More