Skip to main content

Garmin Reports Robust Q1


Garmin reported a strong first quarter with consolidated net sales of $1.07 billion, a 25 percent increase compared with the same period last year.

Double-digit growth in the automotive, fitness, marine and outdoor segments were chiefly responsible for the results, the company said.


Gross margin and operating margin were 59.8 percent and 23.3 percent, respectively, and operating income of $250 million reflected a 41 percent jump compared with the prior year.

Led by demand for plotters and Panoptix LiveScope sonar, the marine segment posted sales of $209.4 million, a 28 percent increase in revenue.


“Broad momentum across our business segments resulted in strong double-digit revenue and profit growth,” president and CEO Cliff Pemble said in a statement. “Interest in fitness, health, and active lifestyle products has never been higher, and we believe that we are well-positioned to capitalize on the opportunities ahead.”

Earlier this month, Garmin and Mercury Marine announced expanded access to VesselView functionality with the launch of SmartCraft Connect, which provides engine information on Garmin MFDs.



FAF Brings New Anglers into the Fold

The nonprofit organization will leverage Giving Tuesday on Nov. 29 to raise funds for its grassroots fishing and boating participation efforts.


Naos Yachts Plans New Offices

The San Francisco Bay area location will expand the dealer’s midcoast footprint and help grow its Groupe Beneteau, Lagoon, Neel, CNB Yachts, Four Winns and Wellcraft brands.


Trade Only Today Returns Monday

The e-newsletter will not publish Thursday, Nov. 24, and Friday, Nov. 25, in observance of the Thanksgiving holiday.


Correct Craft Gives Back

Employees spent a day serving at the Florida United Methodist Children’s Home, impacting more than 500 kids in need.


GH Motion Launches All-Electric Lift

The GH70e mobile boat lift is powered by a modular solar/battery system and has a 65-ton capacity.


Dealers: Are You in Compliance?

A new FTC Safeguards Rule designed to protect consumers’ personal information goes into effect Dec. 9 — are you prepared?


NMMA Canada President Steps Down

NMMA Canada president Sara Anghel is leaving the recreational boating trade group after nearly 15 years of service.


Ohio Ordered To Get Serious About Algae

Many are applauding a judge’s proposed consent decree that will serve as a roadmap to address western Lake Erie’s chronic algal blooms.