Garmin FY 2018 net income drops 2% y/y to USD694 million
Sales in Auto business declines 19% y/y to USD634.2 million
Garmin’s net income declined 2.1% year-over-year (y/y) to USD694.1 million in the financial year ended 31 December 2018, the company said in a press release. Net sales increased 7.2% y/y to USD3.35 billion. Higher sales helped the company to record operating income of USD778.3 million, up 13.8% y/y, resulting in operating margin of 23.3% compared to 21.9% a year earlier.
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