Garmin Ltd Q3 Profit Increases, beats estimates

(RTTNews) - Garmin Ltd (GRMN) released earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $257.24 million, or $1.34 per share. This compares with $210.85 million, or $1.09 per share, in last year's third quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $270.22 million or $1.41 per share for the period.

Analysts on average had expected the company to earn $1.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.3% to $1.28 billion from $1.14 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings (Q3): $257.24 Mln. vs. $210.85 Mln. last year. -EPS (Q3): $1.34 vs. $1.09 last year. -Analyst Estimate: $1.29 -Revenue (Q3): $1.28 Bln vs. $1.14 Bln last year.

-Guidance: Full year EPS guidance: $5.25 Full year revenue guidance: $5.150 Bln