Garmin’s Q3 net income up 21.9% y/y to USD184.2 million
Company raises financial guidance for fiscal year 2018
Garmin’s net income increased 21.9% year-over-year (y/y) to USD184.2 million in the third quarter ended 29 September 2018, the Switzerland-based company said in a press release last week. Net sales increased by 7.8% y/y to USD810 million. Higher sales also helped Garmin report operating income of USD196 million, up 12.9% y/y, resulting in operating margin of 24.2% over 23.1% during the same period a year earlier.