Garmin reports increases in profit, revenue for first quarter

By Stephen Frothingham

OLATHE, Kan. (BRAIN) — Garmin reported Wednesday that its first-quarter revenue rose 7 percent and net profit surged 32 percent as the company saw strong double-digit growth in the outdoor and marine segments that helped offset continuing declines in its automotive business. Garmin also reported high-single-digit growth in its fitness segment, which includes cycling products.

The 33 increase in outdoor revenue was highlighted by strong sales of Garmin’s Fenix line of wearables as well as …read more

Via:: Bicycle Retailer and Industry News