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Garmin expected to release third-quarter profits, revenues below a year ago
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OLATHE, Kan. - Navigational device maker Garmin Ltd. is expected to report lower third-quarter profits and revenues from a year ago.
The Cayman Islands-based company, which has its headquarters in Olathe, is scheduled to release its financial results for the July-September period Tuesday morning.
Analysts surveyed by Thomson Reuters expect earnings of 69 cents per share on $704 million in sales. A year ago, the company reported earning 82 cents per share on revenue of $870 million.
Garmin makes GPS-equipped gadgets for drivers, boaters, pilots and outdoor enthusiasts. Garmin and other makers of navigational devices are under pressure from cell phone makers who are increasingly equipping their products with directional applications.
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