Summary
Garmin Ltd.'s (GRMN) 10-Q filing for the quarter ended September 29, 2012, indicates no material changes in identified risk factors since its last annual report. Investors should continue to refer to the 2011 10-K for a comprehensive understanding of potential business, financial, and stock price risks. The company's board previously authorized a share repurchase program for up to $300,000, which expired on December 31, 2011, and no further repurchases were detailed within this reporting period.
Financial Highlights
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Financial Statements
Beta
| Revenue | $672.38M |
| Cost of Revenue | $313.32M |
| Gross Profit | $359.06M |
| R&D Expenses | $82.49M |
| SG&A Expenses | $86.40M |
| Operating Expenses | $198.99M |
| Operating Income | $160.06M |
| Net Income | $140.35M |
| EPS (Basic) | $0.72 |
| EPS (Diluted) | $0.72 |
| Shares Outstanding (Basic) | 195K |
| Shares Outstanding (Diluted) | 196K |
Key Highlights
- 1No new material risk factors were identified during the 13-week period ended September 29, 2012, aligning with risks previously disclosed in the 2011 10-K.
- 2Investors are directed to the 2011 Form 10-K for detailed information on existing risks and uncertainties that could impact Garmin's business and financial performance.
- 3The prior share repurchase program, authorized on February 12, 2010, for up to $300,000, expired on December 31, 2011.
- 4No issuer purchases of equity securities were reported for the period covered by this 10-Q filing.
- 5There were no defaults upon senior securities during the reporting period.
- 6The filing explicitly states that Items 2(a) and 2(b) (Unregistered Sales of Equity Securities and Use of Proceeds) are not applicable.
- 7Mine safety disclosures are not applicable to Garmin.