Garmin Ltd Bottom Line Retreats In Q1, misses estimates

(RTTNews) - Garmin Ltd (GRMN) announced a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $202.33 million, or $1.05 per share. This compares with $211.59 million, or $1.09 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.7% to $1.15 billion from $1.17 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings (Q1): $202.33 Mln. vs. $211.59 Mln. last year. -EPS (Q1): $1.05 vs. $1.09 last year. -Analyst Estimates: $1.06 -Revenue (Q1): $1.15 Bln vs. $1.17 Bln last year.

-Guidance: Full year EPS guidance: $5.15 Full year revenue guidance: $5.00 Bln