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Garmin Reports Solid Third Quarter 2013 Results and Raises Full Year Outlook

30 October 2013 @ 6:00 AM  / Corporate /

Schaffhausen, Switzerland / October 30, 2013/ Business Wire -- Garmin Ltd. (Nasdaq:  GRMN – News) today announced results for the fiscal quarter ended September 28, 2013.  Highlights in the quarter include:

  • Total revenue of $644 million in third quarter 2013 with non-automotive/mobile segments of outdoor, fitness, aviation and marine delivering 50% of total revenues and growing 12% over the year ago quarter
  • Operating margin of 24% with 65% of operating profit from non-automotive/mobile segments
  • Introduced the VIRB™ and VIRB Elite action cameras, offering unique features available only through the integration with Garmin products and sensors
  • Announced the Edge® Touring cycling computer and updates to our popular Forerunner® GPS running watches
  • Generated $205 million of free cash flow in third quarter 2013

Download Q3 2013 Press Release FINAL

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