Garmin (GRMN) is an OEM of GPS-based equipment. June
quarter results were much better than consensus
expectations, signaling an end to the downturn.

strong revenue and margin performance in the
recently concluded quarter, the company s market
share, brand equity, financial position, compelling
new products and management history of execution
are encouraging factors.

Although the near-term
outlook is cloudy and competition remains fierce, we
continue to believe that the company will perform
better than peers. Consequently, we are reiterating
our Outperform recommendation on Garmin shares.Zacks Investment Research