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 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

Garmin reports 1Q results

First-quarter profits more than doubled at Garmin Ltd. as revenue rose broadly, including a sales gain of 24 percent in the company’s marine segment.   The company reported earnings of $95.5 million, or 49 cents a share, for the quarter that ended March 26, compared with $37.3 million, or 19 cents a share, a year…more

Garmin set to buy distributor in South Africa

Garmin signed a letter of intent for the proposed acquisition of Garmin Distribution Africa (Pty) Ltd., the distributor of Garmin’s automotive, outdoor recreation, fitness and marine products in Southern Africa. Financial terms of the transaction were not released. “GDA has been our South African distributor for nearly two decades and this acquisition will only strengthen…more

Garmin reports 4Q, year-end results

Garmin today announced that revenue in its marine segment increased 9 percent in the fourth quarter. Total revenue for the quarter that ended Dec. 25 was down 21 percent, to $838 million, from $1.06 billion in the fourth quarter of 2009. The marine segment provided $37 million. Profits for the quarter fell 52 percent, to…more

Garmin signs OEM deal with Robalo and Chaparral

Garmin International announced a new OEM relationship with Robalo and Chaparral boats in conjunction with the Miami International Boat Show. Robalo selected Garmin to be the exclusive electronics supplier for its outboard-powered fishing boats. Chaparral selected Garmin to be the exclusive electronics supplier for its recreational pleasure boats, which range from 18-foot bowriders to 42-foot…more

Garmin signs OEM deal with Bavaria Yachts

Garmin International today announced that Bavaria Yachts selected Garmin to be the exclusive electronics supplier for its line of sailing and cruising yachts. The OEM partnership was announced in conjunction with the Düsseldorf International Boat Show, where the first on-board Garmin marine electronics package by Bavaria can be purchased. The show runs through Jan. 30. “We…more

Garmin signs OEM deal for cruising tugs

Fluid Motion, designers and builders of Ranger Tugs, announced that Garmin International will be the exclusive electronics supplier to outfit its full line of cruising tugs, including the new Cutwater Boats model. This new OEM partnership is being announced in advance of the Seattle Boat Show, where the first Cutwater Boats will debut. “Fluid Motion…more

Garmin reports 3Q results

Garmin today announced a drop in total revenue for the third quarter, which ended Sept. 25, but said its marine segment revenue was up 1 percent. Switzerland-based Garmin reported total revenue of $692 million, down 11 percent from $781 million in the third quarter last year. Marine segment revenue increased 1 percent, to $46 million.…more

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