Garmin's sales accelerated to an increase of 4.0 percent in the second quarter ended June 27, reaching $110.3 million. The category generated a flat gross margin of 60.6 percent and 6.1 percent higher operating earnings of $37.4 million. The company is making new investments in the outdoor wearable category, where the market is growing the most. At $158.6 million, sales slowed down to a rise of 5.3 percent in the increasingly competitive fitness segment, but company officials expect the category to grow by 25 percent for the full year, following new product launches. Across the group, Garmin reported a 24.3 percent decline in net profit to $137.8 million on 0.5 percent lower revenues of $77.8 million, partly impacted by currencies.
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