(NASDAQ:GRMN) Stock Earnings Rise, Shares Down

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Garmin Ltd. (NASDAQ:GRMN) fell 4.20% to $30.09 after said Wednesday that third-quarter earnings were $205 million, or $1.07 a share, compared to $182 million, or 82 cents a share, in the same period a year ago. Adjusted earnings per share were $1.02 compared to 87 cents. Sales were $781 million compared to $870 million. Analysts polled by FactSet Research estimated, on average, earnings per share of 69 cents and sales of $698 million. "While revenues fell year-over-year, the rate of decline moderated at 10% but our margin improvements more than offset that decline," said Chief Executive Min Kao.

Garmin Ltd. (Garmin) is a provider of navigation, communication and information devices and applications, which are enabled by global positioning system (GPS) technology. Garmin designs, develops, manufactures and markets a diverse family of hand-held, portable and fixed-mount GPS-enabled products and other navigation, communications and information products for the automotive/mobile, outdoor/fitness, marine and general aviation markets.

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