More on Garmin's (GRMN +3.4%) Q1: Roughly half of all sales came from divisions other than...

|About: Garmin Ltd. (GRMN)|By:, SA News Editor

More on Garmin's (GRMN +3.4%) Q1: Roughly half of all sales came from divisions other than Automotive/Mobile, which has long been pressured by the impact of smartphone usage. Auto/Mobile rose 6% Y/Y, though Garmin doesn't expect growth to continue given industry trends. Fitness +26% Y/Y (14% of total), Outdoor +16% (15% of total). Gross margin rose 300 bps Q/Q to 51%, free cash flow was $116M. (PR)