SCHAFFHAUSEN, Switzerland (AP) 鈥� SCHAFFHAUSEN, Switzerland (AP) 鈥� Garmin Ltd. (GRMN) on Wednesday reported first-quarter earnings of $405.1 million.
On a per-share basis, the Schaffhausen, Switzerland-based company said it had net income of $2.09. Earnings, adjusted for non-recurring gains, were $2.08 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.
The maker of personal navigation devices posted revenue of $1.75 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.72 billion.
Garmin expects full-year earnings to be $9.35 per share, with revenue expected to be $7.9 billion.
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