Garmin three times increased its net profit with virtually unchanged revenues
Garmin has published a report on the results of the first quarter of the 2017 financial year, which ended for her on 1 April.
Manufacturer during the reporting period helped 638,5 mln dollars, which is 2% higher than a year earlier. Operating margin increased from 16.6% to 18.2%. Net profit rose substantially: from 88 to 237,8 million dollars.
Unlike many other companies, Garmin all major business segments bring about equal revenue. For example, the automotive segment brought the company most of 157.5 million dollars, although this is 19% less than the year before. And less brought sales of «marine» products (sonar, chartplotters, etc.): 104.4 million dollars against 82.9 million dollars last year. By the way, that this business Garmin last month showed the greatest revenue growth (26%).
Garmin also notes increased by 13% R & d expenditure.