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 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

Garmin reports 2Q results

Garmin today announced a 9 percent increase in total revenue and a 23 percent increase in marine segment revenue for the second quarter. Total revenue for the quarter that ended June 26 was $729 million, up from $669 million in second-quarter 2009, with all segments posting growth. Marine segment revenue was $74 million, the company…more

Garmin reports 1Q results

Garmin announced a slight decrease in revenue for the first quarter, which ended March 27, but a 9 percent increase in the marine segment. Garmin announced total revenue of $431 million for the quarter, down 1 percent from $437 million in revenue in the same period last year. However, marine segment revenue was $41 million,…more

Garmin makes offer to buy Raymarine

Garmin announced today that it has made a cash offer of 15 pence (23 cents) per share to acquire Raymarine plc. The transaction remains subject to shareholder acceptance and regulatory approval, but Garmin said it expects to obtain the necessary merger control approvals. Raymarine has previously announced several approaches from other companies, but Ted Gartner,…more

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