Reuters logo
Garmin profit misses estimates
May 1, 2013 / 11:20 AM / 5 years ago

Garmin profit misses estimates

May 1 (Reuters) - Garmin Ltd’s first-quarter profit came in below analysts’ average estimate as revenue from its core personal navigation devices business fell further.

Net profit rose to $88.7 million, or 45 cents per share, from $86.9 million, or 44 cents per share, a year earlier. Excluding items, the company earned 40 cents per share.

Revenue fell 4 percent to $532 million. Automotive/Mobile segment revenue decreased 10 percent to $253 million.

Analysts on average had expected earnings of 41 cents per share on revenue of $515.6 million, according to Thomson Reuters I/B/E/S.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below