Garmin Ltd. (NASDAQ: GRMN) today reported its first quarter financial results for the period ended March 27, 2021.
Net income for the first quarter was $220 million, or $1.14 per share, compared to net income of $161 million, or $0.84 per share in the first quarter of 2020.
Net sales increased 25% to $1.07 billion.
Shares down 1% during the pre-market hours following the earnings announcement.
Broad momentum across our business segments resulted in strong double-digit revenue and profit growth. Interest in fitness, health, and active lifestyle products has never been higher, and we believe that we are well positioned to capitalize on the opportunities ahead.
Cliff Pemble, President and CEO of Garmin
