Garmin says trade publication’s report is inaccurate

Author:
Updated:
Original:

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 gross margins remain relatively strong,” said Kevin Rauckman, Garmin CFO and treasurer, in a statement. “However, the December sales environment is weaker, which we attribute to our retail customers’ desire to exit the year with lower levels of inventory.”

Garmin will update investors during its fourth quarter 2008 earnings call, scheduled for Feb. 25.

Related

Argos 3D Forward Looking Sonar

For 20 Years, FarSounder has been developing and manufacturing 3D forward-looking sonar for vessels of all sizes.

Dometic Marine Appoints Executives

The company promotes a 20-plus-year employee and adds a vice president of aftermarket sales and e-commerce.

IMEA Launches Scholarship Program

The International Marine Electronics Alliance aims to recruit students into the field of marine technology.

RBFF Campaign Reels in Awards

The fishing-and-boating advocacy group’s Get on Board campaign was recognized by two national public relations organizations.

Suzuki’s Clean Ocean Project

Testing of the engine manufacturer’s microplastics filtering device continues as it moves closer to production. The company also released its full-year financials.

Uflex Adds to Sales and Marketing Team

The company said significant growth during the last few years created the need to add three employees.

NMTA Beats Proposal To Double Excise Tax

It’s just one example of the value of belonging to a state or local marine trade association. Are you a member of an MTA?