CORRECTED-Garmin sales rise as demand soars for GPS-based fitness gears

Wed Jul 30, 2014 7:43am EDT

(Correct reporting period in paragraph 2 to second quarter from first quarter)

July 30 (Reuters) - Navigation equipment maker Garmin Ltd reported an 11.7 percent rise in quarterly revenue, helped by higher sales of its GPS-based fitness products.

The company's net income rose to $182 million, or 93 cents per share, in the second quarter ended June 28, from $172.5 million, or 88 cents per share, a year earlier.

Revenue rose to $777.8 million from $696.6 million. (Reporting by Abhirup Roy in Bangalore; Editing by Maju Samuel)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.