Garmin (GRMN) earnings

Posted: February 20, 2008 at 12:21 pm by Lisa

Garmin reported Q4 EPS of $1.39 v $1.10 estimate, revenue of $1.22Bv $1.04 estimate. That’s all good news. Shares were trading up for the first couple hours, but suddenly took a nosedive. Why? Because on the conference call they stated they see increasing competition in 2008. That could cut into their growth and some investors bailed on that news.