Garmin Reports Strong Second Quarter 2013 Results and Maintains Full Year Outlook

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:

• 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 3^rd 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

Download Q2 2013 Press Release FINAL