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Wednesday, Aug 1
2012, 9:17 AM
More on Garmin's Q2: Gross margin surged 800 bps Q/Q to 55% (big reason for the EPS beat)....
More on Garmin's Q2: Gross margin surged 800 bps Q/Q to 55% (big reason for the EPS beat). Auto/mobile sales rose 8% Y/Y, better than Q1's 6%, though Garmin still forecasts industry units will fall 10%-15% in 2012. Outdoor again a standout, +24%, though Fitness and Marine growth declined noticeably to +5% and -14%. Garmin now expects 2012 revenue of $2.75B-$2.8B and EPS of $2.70-$2.85; the former is in-line, but the latter is above a $2.66 consensus. GRMN +6.2%. (PR)