Garmin revenue virtually unchanged for the year
Have a Garmin too, it’s time to report for the past fiscal quarter. For a manufacturer July 1, ended the second quarter of 2017 financial year.
Revenue for the reporting period amounted to 816,9 million dollars, an increase of only 1% in annual terms. Operating profit increased from 24.7% to 24.9% of revenues.
But if overall revenues Garmin remained almost unchanged, but upon closer examination, the situation becomes more interesting. For example, a division involved in automotive products, as previously, Garmin has brought the largest amount: 208,5 million dollars. However, this is 15% less than the year before. The Outdoor unit, which, among other things, works smart watch, showed revenue growth of 46%, to $ 194,8 million. 15% growth also showed the division of Aviation, but Marine and Fitness divisions showed a decline of 3% and 15%, respectively.