Wednesday, October 29. 2008

Garmin Beats Estimates, drops outlook but Nuvifone on track for 2009

Garmin's third quarter earnings of 87 cents a share on revenue of $870 million topped Wall Street expectations of 83 cents a share on revenue of $858 million. That's the good news, along with the location-enabled phone now on target for its delayed launch.

As for earnings, for 2008, Garmin is projecting of $3.78 a share on revenue of $3.6 billion dropping from Wall Street's expectations of $4.13 a share on revenue of $3.9 billion.

The longer the Nuvifone takes to get to market the longer Apple's iphone and the various Android and RIM solutions have to get out the kinks and corral developers.

- ZDnet
- press release on earnings

Posted by Adena Schutzberg in Satellite Navigation at 07:47 | Comments (0) | Trackbacks (0) |

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