Garmin on stock market (GRMN)

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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