Garmin Ltd Q1 Profit Increases, But Misses Estimates

(RTTNews) - Garmin Ltd (GRMN) reported earnings for its first quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $332.77 million, or $1.72 per share. This compares with $275.96 million, or $1.43 per share, last year.

Excluding items, Garmin Ltd reported adjusted earnings of $311.59 million or $1.61 per share for the period.

Analysts on average had expected the company to earn $1.64 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 11.2% to $1.535 billion from $1.381 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings: $332.77 Mln. vs. $275.96 Mln. last year. -EPS: $1.72 vs. $1.43 last year. -Revenue: $1.535 Bln vs. $1.381 Bln last year.