Garmin Ltd. (GRMN) Tops Q1 EPS by 29c

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Go back to Garmin Ltd. (GRMN) Tops Q1 EPS by 29c

Garmin announces first quarter results

April 28, 2021 7:00 AM EDT

Company reports strong double-digit revenue and operating income growth

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin® Ltd. (NASDAQ: GRMN), today announced results for the first quarter ended March 27, 2021.

Highlights for first quarter 2021 include:

Total revenue of $1.07 billion, a 25% increase over the prior year quarter led by double-digit growth in the fitness, outdoor, marine and auto segments Gross margin improved to 59.8% compared to 59.2% in the prior year quarter Operating margin improved to 23.3% compared to 20.7% in the prior year quarter Operating income of $250... More