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

31 July 2013 @ 6:00 AM  / Corporate /

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 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
Download Q2 2013 Press Release FINAL

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