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So What: Revenue fell 11% to $692 million and adjusted earnings per share of $0.70 missed estimates of $0.75. Garmin is also shutting down its smartphone business, which couldn't keep up with Apple's
Now What: A 54% increase in Asian sales couldn't offset an 18% decline in the U.S. market. Even though Garmin doesn't appear terribly expensive at a price-to-earnings ratio around 10, declining sales and profitability leave me unimpressed. I just can't hop aboard a tech company without any creative juice that's lost its competitive edge so quickly.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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