Garmin Ltd Q3 Profit Increases, Beats Estimates

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

The company's bottom line came in at $399.11 million, or $2.07 per share. This compares with $257.24 million, or $1.34 per share, in last year's third quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $384.23 million or $1.99 per share for the period.

Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.1% to $1.586 billion from $1.278 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings (Q3): $399.11 Mln. vs. $257.24 Mln. last year. -EPS (Q3): $2.07 vs. $1.34 last year. -Revenue (Q3): $1.586 Bln vs. $1.278 Bln last year.