Navigation-product manufacturer Garmin said its fourth quarter through Black Friday was in line with expectations in terms of margins, the number of units sold and the selling price per unit. “We did not go down to the very low price point … and elected to let some of the low-end units go to competitors because…more
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 today reported its total revenue was down 10 percent for the third quarter, though marine segment revenue increased 3 percent to $45 million as market share gains offset ongoing weakness in the industry. Total revenue for the quarter, which ended Sept. 26, was $781 million, down from $870 million in the third quarter of…more
Garmin Ltd. issued a statement in response to reports that it was in early discussions with Raymarine to purchase the U.K.-based company. “In accordance with Rule 2.10 of the City Code on Takeovers and Mergers … Garmin announces that any offer it might make for the shares of Raymarine is likely to be solely in…more
Garmin Ltd. today reported a 27 percent decline in revenue for the second quarter, which ended June 27. Total revenue was $669 million in the recent quarter, compared to $912 million in the year-ago quarter. Marine segment revenue decreased 15 percent to $60 million in the 2009 quarter. Net income declined to $161.9 million, or…more
Garmin Ltd. is conducting a voluntary product safety recall of the 2009 version of its marine cartography data card known as BlueChart g2 and g2 Vision. The affected data cards were sold between April 8 and June 3. In certain waters, the data card provides inaccurate indications of the depth of the water, which creates…more
Garmin today reported a 34 percent decrease in overall revenue for the first quarter ending March 28, including a 32 percent decrease in the marine segment. Total revenue of $437 million was reported, down from $664 million in the first quarter of 2008. Marine segment revenue was $38 million for the quarter. Significant decreases of…more
Garmin Ltd. issued a press release disputing a recent report in the DigiTimes trade publication titled, “Garmin expects to ship 18 million GPS PNDs in 2008.” The story contains a number of inaccuracies in both sales figures and product rollout schedules, according to Garmin. “Black Friday sales from our customers were what we expected, and…more