OLATHE, Kan. (BRAIN) — Led by growth in its Fitness segment, which includes cycling products, Garmin Ltd. revenue increased 14% year-over-year in a record first quarter.
For the quarter ending March 28, consolidated revenue was $1.75 billion, compared with $1.54 billion at the same time last year. Fitness revenue increased 42%, from $385 million to $547 million. During the quarter, Garmin released the Varia RearVue 820, what it calls its brightest and most powerful radar light for cyclists.
Garmin also recorded record operating income of $432 million, a 30% increase compared to the prior year quarter.
Outdoor sales were the only segment that dipped (5%), from $438 million to $418 million.
Year-over-year net income for the first quarter increased 21.6%, from $333 million to $405 million. Earnings per share increased from $1.73 to $2.10 year-over-year. According to Garmin, it will maintain its fiscal year 2026 guidance of about $7.9 billion revenue.
Garmin's corporate headquarters is in Olathe. Its stock is traded on the NASDAQ under the GRMN symbol. Stock quotes are available at Marketwatch.com.
