Garmin Reports Second Quarter 2011 Results with Continued Strong Cash Flow Generation

Net deferred revenues and costs

The following table illustrates the net effect of deferred revenues and costs associated with certain products bundled with content and services. These revenues and costs are being amortized over the estimated economic lives of the products. Additional details are available in the Quarterly Report on Form 10-Q for the quarter ended June 25, 2011 that will be filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983) today.

       
Garmin Ltd. And Subsidiaries
Net Deferred Revenue Impact (Unaudited)
(In thousands, except per share information)
 
13-Weeks Ended 26-Weeks Ended
June 25, June 26, June 25, June 26,
  2011       2010     2011       2010  
Net sales $ (61,701 ) $ (22,911 ) $ (83,527 ) $ (37,920 )
Cost of goods sold   (10,652 )   (3,764 )   (14,557 )   (6,546 )
Gross profit (51,049 ) (19,147 ) (68,970 ) (31,374 )
 
Operating income (51,049 ) (19,147 ) (68,970 ) (31,374 )
 
Income tax provision based on normalized tax effects   (7,068 )   (3,446 )   (5,862 )   (5,647 )
           
Net income $ (43,981 ) $ (15,701 )   $ (63,108 )   $ (25,727 )
 
Net income per share:
Basic $ (0.23 ) $ (0.08 ) $ (0.33 ) $ (0.13 )
Diluted $ (0.23 ) $ (0.08 ) $ (0.32 ) $ (0.13 )
 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »



Review Article Be the first to review this article

Featured Video
Jobs
GIS Manager - Technical Support Group / Public Works for City Of Topeka at Topeka, Kansas
ArcGIS Maps for SharePoint Product Engineer for ESRI at Redlands, California
GIS Manager for Union County NC at Monroe, California
Transportation Specialist - Department of Transportation - (2100115) for City of San Jose at San José,, California
Full Stack ArcGIS Software Developer for Patrick Engineering at Remote - preference for individual residing in Southeastern US (per below), Any State in the USA
GIS Analyst for Union County NC at Monroe, California
Upcoming Events
Milipol Asia-Pacific 2021 at Singapore - Mar 23 - 25, 2021
Geo Connect Asia 2021 at Suntec Singapore - Mar 24 - 25, 2021
NextGen SCADA Global 2021 at United Kingdom - Mar 24 - 25, 2021
University of Denver GIS Masters Degree Online



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise