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Garmin Ltd. (GRMN) Fell To A New Low After Q4 Miss

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Garmin Ltd. (GRMN: Quote) reported fourth quarter pro forma EPS of $0.68 Wednesday morning, down from $0.96 a year ago. The consensus estimate was for EPS of $0.73. Full year 2013 pro forma EPS is expected to be between $2.30 and $2.40, compared to the consensus estimate of $2.82.

Garmin gapped open sharply lower Wednesday and declined in early trade, before settling into a range. The stock finished down by 3.70 at $35.54 on above average volume. Garmin fell below support and set a new low for the year.

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by RTT Staff Writer

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