Garmin

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 enters the action-camera market

Garmin International, a unit of Garmin Ltd., today announced the introduction of VIRB, the satellite navigation manufacturer’s first true HD 1080p action camera series. Meant for outdoor shooting in challenging elements, VIRB features a rugged and waterproof (IPX-7 waterproof rating) housing and a 1.4-inch Chroma color display. The camera features digital image stabilization and lens…more

Garmin faces investor lawsuit over failed LightSquared project

Investors filed a $1.9 billion lawsuit against three GPS receiver manufacturers, including Garmin International, over LightSquared, a now bankrupt company that still hopes to build a wireless broadband network across the United States. The investors, led by Harbinger Capital Partners, are seeking compensation for losses incurred when the Federal Communications Commission denied LightSquared permission to…more

Garmin reports 2Q results

Garmin Ltd. today reported lower revenue and profits in the second quarter, but its results topped Wall Street estimates and the company said its 2013 guidance remains largely unchanged. Garmin reported net income for the quarter that ended June 29 of $172.5 million, or 88 cents a share, down 7.2 percent from $185.9 million, or…more

Garmin reports 1Q results

Total revenue dropped 4 percent for Garmin to $532 million in the first quarter from $557 million in the first quarter of 2012. The company announced that the marine segment saw one of the largest dips, falling 10 percent, to $50 million, because of heavily discounted products necessary to maintain market share. “In the marine…more

Garmin reports 4Q, year-end results

Revenue at Garmin Ltd. was down 16 percent in the fourth quarter, from $910 million in 2011 to $769 million in 2012, due in part to slumping automobile sales, the company reported. Revenue declined across all segments except fitness, where Garmin saw a 10 percent increase. The marine segment dipped 9 percent, to $39 million,…more

Garmin acquires Swedish supplier

Garmin Ltd. announced the purchase of Nexus Marine AB, a privately held Swedish designer and manufacturer of navigation equipment for the sailing and yachting market. The acquisition was announced in conjunction with the Southhampton Boat Show according to the company. “Nexus Marine is very highly respected in the sailing market, and we’re happy to have…more

Garmin reports 1Q results

Garmin Ltd. today announced improved results for the first quarter, including an increase in marine segment revenue. Total revenue for the period that ended March 31 was $557 million, up 10 percent from $508 million in the first quarter of 2011. The marine segment saw a revenue increase of 9 percent to $56 million. The…more

Garmin reports 4Q, year-end results

Garmin today announced that total revenue was up 9 percent in the fourth quarter and 3 percent for fiscal 2011, while marine segment revenue increased 16 percent for the quarter and 12 percent for the year. The company reported total revenue of $910 million in the fourth quarter, up from $838 million in the fourth…more

Garmin signs deal to buy Interphase Technologies

Garmin signed an agreement to acquire Interphase Technologies Inc., a privately held creator and manufacturer of phased array scanning sonar technology based in Soquel, Calif. Financial terms of the agreement will not be released. This transaction is expected to be finalized within the next 30 days and it will allow Garmin to expand its overall…more

Garmin buys its distributor in Chile

Garmin Ltd. acquired Centro GPS, the distributor of Garmin’s automotive, outdoor recreation, fitness and marine products in Chile. Centro GPS will be renamed Garmin Chile and will continue operations at its current facilities in Santiago, which employ about 25 associates. Financial terms of the transaction were not released. “We are happy to welcome the Chilean…more

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