31 July 2013 @ 6:00 AM /
Schaffhausen, Switzerland / July 31, 2013/ Business Wire --
Garmin Ltd. (Nasdaq: GRMN – News) today announced results for the fiscal quarter ended June 29, 2013. Highlights in the quarter include:
Garmin Ltd. (Nasdaq: GRMN – News) today announced results for the fiscal quarter ended June 29, 2013. Highlights in the quarter include:
- Total revenue of $697 million in second quarter 2013 with traditional segments of outdoor, fitness, aviation and marine delivering 51% of total revenues and growing 8% over the year ago quarter
- Operating margin of 24% with 64% of operating profit from traditional segments
- Continued to gain global market share in the PND industry
- Introduced the Monterra™, an Android™ powered outdoor GPS, supporting 3rd party applications for outdoor professionals and enthusiasts
- Announced the expansion of our relationships with Volkswagen and MINI, providing factory- or dealer-installed solutions for the compact car market
- Generated $186 million of free cash flow in second quarter 2013