Garmin Ltd. (GRMN) Tops Q3 EPS by 9c; Raises Outlook
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Garmin Reports Third Quarter Revenue and Profit Growth; Raises Guidance
November 1, 2017 7:00 AM EDTSCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (Nasdaq: GRMN) today announced results for the third quarter ended September 30, 2017.
Highlights for the third quarter 2017 include:
Total revenue of $743 million, growing 3% over the prior year, with outdoor, aviation, marine and fitness collectively growing 9% over the prior year quarter and contributing 75% of total revenue Gross margin improved to 58.4% compared to 56.2% in the prior year quarter Operating margin improved to 22.8% compared to 22.1% in the prior year quarter Operating income was $170 million, growing... More