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SCHAFFHAUSEN, Switzerland (AP) — SCHAFFHAUSEN, Switzerland (AP) — Garmin Ltd. (GRMN) on Wednesday reported first-quarter net income of $202.3 million.
On a per-share basis, the Schaffhausen, Switzerland-based company said it had profit of $1.05. Earnings, adjusted for non-recurring gains, came to $1.02 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The maker of personal navigation devices posted revenue of $1.15 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.08 billion.
Garmin expects full-year earnings to be $5.15 per share, with revenue expected to be $5 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a GRMN">Zacks stock report on GRMN at https://www.zacks.com/ap/GRMN