Garmin Ltd., the worlds secondlargest maker of carnavigation equipment, fell
the most in more than a month in Nasdaq trading after Reuters said first
quarter revenue will fall, citing an interview with a company executive.
Firstquarter revenue at Garmin will drop 40 percent to 50 percent from the
preceding period, when holiday spending bolstered sales, Reuters quoted CFO
Kevin Rauckman as saying.
The stock fell $3.60, or 6.4 percent, to $52.81.
However, Garmin expects 2008 sales to climb to more than $4.5 billion, an
increase of at least 42 percent from 2007. That compares with a 79 percent jump
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