Garmin Reports Second Quarter 2011 Results with Continued Strong Cash Flow Generation

The following table contains a reconciliation of GAAP net income per share to pro forma net income per share.

           
Garmin Ltd. And Subsidiaries
Net income per share (Pro Forma)
(in thousands, except per share information)
 
13-Weeks Ended 26-weeks Ended
June 25, June 26, June 25, June 26,
2011   2010 2011   2010
 
Net Income (GAAP) $109,477 $134,816 $204,959 $172,144
Foreign currency (gain) / loss, net of tax effects 12,588   35,756 2,261   73,916
Net income (Pro Forma) $122,065   $170,572 $207,220   $246,060
 
Net income per share (GAAP):
Basic $0.56 $0.68 $1.06 $0.86
Diluted $0.56 $0.67 $1.05 $0.86
 
Net income per share (Pro Forma):
Basic $0.63 $0.86 $1.07 $1.23
Diluted $0.63 $0.85 $1.06 $1.23
 
Weighted average common shares outstanding:
Basic 194,051 198,948 193,986 199,437
Diluted 194,875 200,102 194,801 200,626
 

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