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Garmin Reports Second Quarter 2015 Results and Updated 2015 Guidance

29 July 2015 @ 6:00 AM  / Earnings /

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

Download Q2 2015 Press Release FINAL

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