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Garmin: 1Q Earnings Snapshot

SCHAFFHAUSEN, Switzerland (AP) _ Garmin Ltd. (GRMN) on Wednesday reported first-quarter earnings of $140.2 million.

The Schaffhausen, Switzerland-based company said it had profit of 74 cents per share. Earnings, adjusted for non-recurring gains, were 73 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The maker of personal navigation devices posted revenue of $766.1 million in the period.

Garmin expects full-year earnings to be $3.70 per share, with revenue expected to be $3.5 billion.

Garmin shares have climbed 36% since the beginning of the year, while the Standard & Poor's 500 index has climbed 18%. The stock has climbed 46% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GRMN at https://www.zacks.com/ap/GRMN