Garmin reported strong fourth-quarter and 2016 results as sales and profits rose from year-earlier figures.
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.
Garmin said it grew revenue 6 percent in the third quarter to $722 million with fitness, outdoor, marine and aviation collectively growing 24 percent from the prior year’s quarter and contributing 70 percent of total revenue.
Garmin International announced the GPSMAP 276Cx, an upgraded reinvention of the 276C chart plotter.
Garmin International Inc. said today that it was breaking ground on a $200 million facility expansion at its Olathe, Kan., campus.
Garmin Ltd. today reported second-quarter revenue of $812 million, growing 5 percent from the prior year, with fitness, outdoor, marine and aviation collectively growing 20 percent from the year-earlier quarter and contributing 70 percent of total revenue.
Garmin said today that it saw revenue grow 7 percent in the first quarter to $624 million as outdoor, fitness, aviation and marine collectively grew 17 percent from the year-earlier quarter and contributed 69 percent of total revenue.
Electronics continue to stand out as a hotbed of innovation and advancement for the marine industry, with the four heavyweights pushing ahead with advances in radar, sonar and chartplotting devices.
MIAMI — Garmin International this year has introduced an array of new electronics, including sonar, radar and multifunction displays, as well as wearable accessories.
Garmin reported fourth-quarter 2015 revenue of $781.4 million, with outdoor, fitness, aviation and marine growing 11 percent from the quarter a year earlier and contributing more than 66 percent of the company’s total revenue.
The strong U.S. dollar negatively affected Garmin during the third quarter, causing the company to miss analysts’ profit expectations by 4 cents a share.