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+--- Thread: Garmin Q3 Sales Climb 79%; Earnings Grow 57% (/showthread.php?tid=371518)
Garmin Q3 Sales Climb 79%; Earnings Grow 57% - FishNews - 10-31-2007
Garmin Ltd. third quarter revenue was $729 million, up 79% from $408 million in third quarter 2006. Outdoor/Fitness segment revenue increased 24% to $88 million and the marine segment revenue increased 17% to $48 million. Diluted earnings per share increased 57% to 88 cents from 56 cents a year ago. Excluding foreign exchange, EPS increased 78% to 89 cents from 50 cents
All geographic areas experienced significant growth with North America revenue at $454 million compared to $265 million, up 71%. Europe revenue was $227 million compared to $120 million, up 89%. Asia revenue was $48 million compared to $23 million, up 109%. Revenue from the automotive/mobile segment continued to become a larger portion of total company revenues when compared with the same quarter in 2006, at 71% of total revenues.