Garmin Ltd. (GRMN) Tops Q3 EPS by 21c; Raises Outlook
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Garmin Reports Third Quarter Revenue and EPS Growth; Raises Guidance
October 26, 2016 7:00 AM EDTSCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (Nasdaq: GRMN News) today announced results for the third quarter ended September 24, 2016.
Highlights for the third quarter 2016 include:
Total revenue of $722 million, growing 6% over the prior year, with fitness, outdoor, marine and aviation collectively growing 24% over the prior year quarter and contributing 70% of total revenue Gross margin expanded to 56.2% compared to 53.3% in the prior year quarter, and operating margin expanded to 22.1% compared to 18.5% in the prior year quarter GAAP EPS was $0.66, a 5% improvement over the prior year quarter, and pro forma... More