Garmin Reports First Quarter 2009 Results

The following table contains a reconciliation of GAAP net income per share to net income per share excluding the impact of foreign currency translation gain or loss.

Garmin Ltd. And Subsidiaries
Net income per share, excluding FX
( in thousands, except per share information)
 
13-Weeks Ended
March 28, March 29,
2009   2008
 
Net Income (GAAP) $48,538 $147,779
Foreign currency (gain) / loss, net of tax effects $1,975   $3,239
Net income, excluding FX $50,513   $151,018
 
Net income per share (GAAP):
Basic $0.24 $0.68
Diluted $0.24 $0.67
 
Net income per share, excluding FX:
Basic $0.25 $0.70
Diluted $0.25 $0.69
 
Weighted average common shares outstanding:
Basic 200,352 216,505
Diluted 200,725 218,979

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