Garmin Ltd. (GRMN) reported third quarter net income of $215.13 million or $1.07 per share, compared to $171.24 million or $0.82 per share last year. Pro forma net income for the quarter rose to $205.29 million or $1.02 per share, from $181.57 million or $0.87 per share in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.69 per share. Analysts' estimates typically exclude special items.
Net sales for the quarter were $781.25 million, down 10% from $870.36 million in the prior year quarter. Seventeen analysts had consensus revenue estimate of $703.91 million for the quarter.
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