OLATHE (dpa-AFX) - Garmin Ltd (GRMN) announced a profit for first quarter that declined from last year.
The company said its earnings totaled $92.06 million, or $0.49 per share. This was lower than $105.59 million, or $0.55 per share, in last year's first quarter.
Analysts had expected the company to earn $0.42 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter rose 6.6% to $624.04 million. This was up from $585.39 million last year.
Garmin Ltd earnings at a glance:
-Earnings (Q1): $92.06 Mln. vs. $105.59 Mln. last year. -Earnings Decline (Y-o-Y): -12.8% -EPS (Q1): $0.49 vs. $0.55 last year. -EPS Decline (Y-o-Y): -10.9% -Analysts Estimate: $0.42 -Revenue (Q1): $624.04 Mln vs. $585.39 Mln last year. -Revenue Change (Y-o-Y): 6.6%
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