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(NASDAQ:GRMN)
Sales Drop as Garmin Navigates Poor Economy
Posted on Monday, Jul 13th
Even as Garmin (NASDAQ:GRMN) remains the company of choice for US consumers buying GPS devices, the recession and its impact on discretionary spending have hit the manufacturer hard, as was evident in the company’s Q1 results. Revenues and earnings not only fell significantly, but also missed analysts’ estimates by quite a margin.
