Garmin Q3 revenue, margins continue to decline on strong dollar

By Stephen Frothingham

OLATHE, Kan. (BRAIN) — Garmin reported Wednesday that revenue and margins continued to slide in the third quarter as the strong U.S. dollar undercut growth in unit sales.

Revenue fell 4 percent to $680 for the period ended Sept. 26. The company reported gross and operating margins of 53 percent and 18.5 percent, respectively, compared with 56 percent and 25 percent a year earlier. Overall unit sales rose 4 percent to 3.9 million.

“The reduction in …read more

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