February 20, 2013 / 12:05 PM / 5 years ago

Garmin quarterly profit misses estimates

Feb 20 (Reuters) - Garmin Ltd’s quarterly profit missed analysts’ estimates as a 25 percent decline in its personal navigation devices business offset growth at its other businesses.

Net profit fell to $129.3 million, or 66 cents per share in the fourth quarter, from $165.6 million, or 85 cents per share, a year earlier.

Excluding items, the company earned 68 cents per share. Analysts’ on average expected profit of 73 cents per share, according to Thomson Reuters I/B/E/S.

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