Aviation, fitness sales drive Garmin profit; shares jump
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Fitness is over your shoulder
To counter the fall in sales, the companies charted different strategies to sustain growth. TomTom focused on mapping software, while Garmin, after a failed move to produce its own phone, invested in products for niche markets such as aviation, marine and fitness. STRONG BEAT Garmin said on Wednesday it expects a profit of $2.50-$2.60 per share on revenue of $2.6-$2.7 billion for 2014. Analysts on average were expecting a profit of $2.56 per share on revenue of $2.58 billion, according to Thomson Reuters I/B/E/S.
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