Highlights for third quarter 2020 include:...
- Total revenue of over $1.1 billion, a 19% year-over-year increase, led by robust growth in marine, fitness and outdoor
- Gross margin and operating margin were 60.2% and 28.6%, respectively
- Operating income of $317 million, increasing 21% over the prior year quarter
- GAAP diluted EPS was $1.63 and pro forma diluted EPS(1) was $1.58, increasing 24% over the prior year quarter
- Named Manufacturer of the Year by the National Marine Electronics Association for the sixth consecutive year
- Since its launch in 2011, Garmin inReach® has provided remote communication and rescue facilitation in over 5,000 SOS incidents, demonstrating the crucial importance of satellite based two-way messaging wherever our customers need assistance
- Began production shipments of the BMW MGU 2020 computing module, expanding our role as a