Garmin Ltd (GRMN)

[MCArmel1]

Garmin misses by $0.02, misses on revenue

Apr 29 2015, 07:01 ET | About: Garmin Ltd. (GRMN) | By: Jignesh Mehta, SA News Editor

Garmin (NASDAQ:GRMN): Q1 EPS of $0.55 misses by $0.02.
Revenue of $585.39M (+0.4% Y/Y) misses by $20.87M.
Press Release

http://seekingalpha.com/news/2464056-garmin-misses-by-0_02-misses-on-revenue?auth_param=ano5b:1ak1ek0:dc39cd85828bd2013652a144a459f225&uprof=45#email_link

Garmin Reports Solid First Quarter 2015 Margins and Operating Results
Wed April 29, 2015 7:00 AM|Business Wire | About: GRMN

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (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 strong at 19%
• Pro forma EPS of $0.55 for first quarter 2015, consistent with the prior year
• Launched vívofit" 2, vívoactive", and fnix® 3, highlighting our continued commitment to a broad product portfolio in the rapidly growing wearables category

More...

http://seekingalpha.com/pr/13306526-garmin-reports-solid-first-quarter-2015-margins-and-operating-results