Schaffhausen, Switzerland / July 29, 2015/ Business Wire -- Garmin Ltd. (Nasdaq: GRMN – News) today announced results for the quarter ended June 27, 2015.
Summary items for the quarter include:
- Total revenue of $774 million in the second quarter of 2015 with fitness, outdoor, aviation and marine delivering 61% of total revenue and collectively growing 11% over the year ago quarter
- The relative strength of the US Dollar compared to other major currencies negatively impacted revenue by approximately $59 million, or 8%, in the second quarter of 2015
- Gross and operating margins were 54% and 22%, respectively, and were impacted by unfavorable currency movements and the higher mix of promotional products sold during the quarter
- Shipped over 4 million units in the quarter, an 8% increase over the year ago quarter
- GAAP and pro forma EPS of $0.72 for second quarter 2015
- Launched the Forerunner® 225 with wrist-based heart rate monitoring, camera enabled nüvi® and dēzl™ models, and the Edge® 20/25, the world’s smallest GPS enabled bike computers