Garmin Ltd. today reported fourth-quarter revenue of $803 million and posted an operating loss for the marine segment in the “seasonally weak” quarter.
Garmin Ltd. is a group of companies that designs, manufactures, markets and sells navigation, communication and information devices and applications, most of which are enabled by GPS technology.
Key Largo, Fla.-based Boats Direct USA is now an authorized Garmin dealer.
Garmin’s third-quarter revenue increased 10 percent to $706 million with double-digit growth in four of five reporting segments.
Garmin saw improvements in gross and operating profits, driven largely by fitness and aviation, with total revenue of $778 million for the second quarter.
Garmin International today introduced a software update for the GPSMAP 8000 Glass Helm Series and its newest series of chart plotters and combination units.
Garmin Ltd. named Doug Boessen as its next chief financial officer and treasurer, beginning July 31.
Garmin Ltd. saw revenue grow 19 percent in its marine segment in the first quarter, compared with the quarter a year earlier, and said demand for its new products, including autopilot solutions, chart plotters and radars, has improved.
Garmin International today announced the GNX 20 and GNX 21, the newest offerings in the company’s marine instrumentation lineup.
Garmin Ltd. reported lower fourth-quarter revenue, but profits climbed 27 percent as rising sales in the company’s marine segment helped offset a revenue decline in the company’s automotive and mobile business.
Garmin International today announced a fully integrated vessel solution for its GPS MAP Glass Helm series as a result of a collaboration with Mastervolt, the manufacturer of CZone intelligent technology, which seeks to make the boating experience more automated and fluent at the helm.