On October 31, 2007, Garmin reported 3rd quarter 2007 results . Total revenue came in at $729 million, up 79% from $408 million in the third quarter of 2006. Net income (GAAP) came in at $193.5 million, up sharply from $123.0 million in the same quarter last year. Diluted earnings per share climbed 57% to $.88/share from $.56/share last year.
The company beat estimates on earnings which had been expected to come in at $.82/share, and instead came in at $.88/share. The company also raised 2007 guidance to $3.40/share from prior forecast of $3.15/share. Also it raised revenue guidance for 2007 to more than $2.9 billion from prior guidance of 'at least $2.8 billion'.
The company beat estimates on earnings which had been expected to come in at $.82/share, and instead came in at $.88/share. The company also raised 2007 guidance to $3.40/share from prior forecast of $3.15/share. Also it raised revenue guidance for 2007 to more than $2.9 billion from prior guidance of 'at least $2.8 billion'.