OLATHE (dpa-AFX) - Garmin Ltd (GRMN) reported earnings for its first quarter that increased from last year but missed the Street estimates.
The company's bottom line came in at $332.77 million, or $1.72 per share. This compares with $275.96 million, or $1.43 per share, last year.
Excluding items, Garmin Ltd reported adjusted earnings of $311.59 million or $1.61 per share for the period.
Analysts on average had expected the company to earn $1.64 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 11.2% to $1.535 billion from $1.381 billion last year.
Garmin Ltd earnings at a glance (GAAP) :
-Earnings: $332.77 Mln. vs. $275.96 Mln. last year. -EPS: $1.72 vs. $1.43 last year. -Revenue: $1.535 Bln vs. $1.381 Bln last year.
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