Garmin Reports Third Quarter 2011 Results with Strong EPS and Cash Flow; Increasing 2011 Guidance

Free cash flow

Management believes that free cash flow is an important financial measure because it represents the amount of cash provided by operations that is available for investing and defines it as operating cash flow less capital expenditures for property and equipment.

The following table contains a reconciliation of GAAP net cash provided by operating activities to free cash flow.

                 
Garmin Ltd. And Subsidiaries
Free Cash Flow
(in thousands)
 

13-Weeks Ended

39-weeks Ended
Sept 24, Sept 25, Sept 24, Sept 25,
2011 2010 2010 2010
 
Net cash provided by operating activities $186,523 $204,348 $597,476 $586,215
Less: purchases of property and equipment ($12,208 ) ($9,763 ) ($26,523 ) ($22,983 )
Free Cash Flow $174,315   $194,585   $570,953   $563,232  
 

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