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.
Frequently Asked Questions
No, the filing states that there have been no material changes in the risk factors during the 13-week period ended September 29, 2012. Investors should continue to refer to the risk factors outlined in the 2011 Annual Report on Form 10-K.
The share repurchase program that was authorized on February 12, 2010, with authorization to purchase up to $300,000 of its common shares, expired on December 31, 2011. No new repurchase activity is detailed in this filing for the current reporting period.
This indicates that Garmin did not engage in any unregistered sales of equity securities or have any specific uses of proceeds from such sales to report during this quarter.