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Garmin Q3 profit misses Street, cuts FY outlook
Posted: 03-Nov-2010 [Source: Reuters]

[Garmin struggling due to smartphone and in-dash navigation device competition and cuts full-year forecast after releasing dismal Q3 numbers in its PND unit. Sales in outdoor/fitness and aviation units rose during the quarter.]

By Supantha Mukherjee and S. John Tilak in Bangalore (Reuters) -- "Garmin Ltd's (GRMN.O) quarterly adjusted profit missed market estimates, hurt by a 19 percent drop in revenue from its portable navigation device (PND) unit, and the company cut its full-year forecast."

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