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 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

Garmin reports 3Q results

Garmin Ltd. today announced an increase in revenue in its marine segment despite an overall decrease in total revenue in the third quarter. The company posted net income of $150.4 million, or 77 cents a share, for the quarter that ended Sept. 24, compared with $279.6 million, or $1.43 a share, in the quarter a…more

Garmin reports 2Q results

Garmin today reported a drop in revenue for the second quarter, although marine segment revenue increased 6 percent. The company reported total revenue of $674 million, down 7.5 percent from $729 million in the second quarter last year. Automotive/mobile segment revenue dropped 19 percent, but the company’s other segments saw revenue growth. Revenue in the…more

Garmin named America’s Cup supplier

Garmin was selected to be the exclusive official supplier of marine navigation, marine communication and marine sensor equipment to the 34th America’s Cup, the company announced. A full suite of Garmin electronics, which includes the GPSMAP 7000 series of touchscreen multifunction displays, will outfit the fleet of support boats used for the AC45 World Series,…more

Garmin set to acquire Navigon AG

Garmin Ltd. and the shareholders of Navigon AG signed an agreement for a subsidiary of Garmin to acquire privately held navigation provider Navigon AG. “This acquisition is a great complement to Garmin’s existing automotive and mobile business. Navigon has invested significantly in the European automotive OEM business, and we feel that we can rapidly expand…more

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