Garmin Falla Falla Prompt Estimations, Fallen Shares Falla

(Reuters) -Garmin registered its slowest growth in revenue in seven quarters and lost its profits on the slow demand of its navigation devices and smart clocks, sending more than 11.5% company actions on Wednesday.

He also joined a world of world companies in warning of the economic uncertainty caused by United States’ rates, which have already affected companies in sectors and countries.

Garmin has manufacturing operations in Taiwan, the United States, Netherlands, Poland and China. This could cause it to be vulnerable to the increase in tensions but united as Beijing and Washington to climb the tit-por-tyt fees that threaten with Roil’s supply chains.

However, the company, which competes with Samsung smart watches of Apple and South Korea, increased the forecast for revenue for the year to $ 6.85 billion, from $ 6.80 million before. This was higher than the average estimate of dollars € 6.82 billion, according to data collected by LSEG.

In the quarter of March 29, sales in outdoor and fitness divisions – the two largest Garmin revenue generators – increased by 20% and 12%, respectively, slower than 29% and 31% of growth seen in the previous three months.

Sales generally increased by 11% to $ 1.54 million on March 29, over the estimation of analysts of $ 1.51 billion.

But the adjusted profit of $ 1.61 per action lost the estimation of $ 1.67 analysts as total expenses jumped by 9.5%.

The company also reduced the annual margin forecast to 58.5% of 58.7%.

(Meghana Khare’s report to Bengali; Shinjini Ganguli edition)