Garmin (GRMN) released reports on the second quarter 2011. To download Press Release click HERE
Second Quarter 2011 Financial highlights:
- Total revenue of $674 million, down 8% from $729 million in second quarter 2010 with four
- segments posting growth:
- Automotive/Mobile segment revenue decreased 19% to $363 million
- Outdoor segment revenue increased 1% to $81 million
- Fitness segment revenue increased 25% to $78 million
- Aviation segment revenue increased 13% to $73 million
- Marine segment revenue increased 6% to $79 million
Geographically, both Europe and Asia contributed growth in second quarter 2011:
- North America revenue was $358 million compared to $455 million, down 21%
- Europe revenue was $253 million compared to $226 million, up 12%
- Asia revenue was $63 million compared to $48 million, up 31%
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