Tag Archives: Cliff Pemble

Garmin reports record Q4, full-year results

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Garmin Ltd. recently announced results for the fourth quarter and fiscal year ended December 26, 2020. Revenue from the marine segment grew 48% in the fourth quarter across multiple categories led by chartplotters. Gross margin and operating margin were 56% and 24%, respectively, resulting in 92% operating income growth. The full report can be found here. On the marine side, ...

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Garmin reports record third quarter operating results

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Garmin Ltd. announced results for the third quarter ended September 26. Highlights for third quarter 2020 include: Total revenue of over $1.1 billion, a 19% year-over-year increase, led by robust growth in marine, fitness and outdoorGross margin and operating margin were 60.2% and 28.6%, respectivelyOperating income of $317 million, increasing 21% over the prior year quarterGAAP diluted EPS was $1.63 ...

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Garmin reports strong growth for Q1

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Garmin Ltd. recently announced results for the first quarter ended March 28, 2020. Highlights for first quarter 2020 include a total revenue of $856 million, a 12% increase, with fitness, marine, outdoor and aviation collectively increasing 17% over the prior year quarter. Other highlights include: a gross margin of 59.2% compared to 59.0% in the prior year quarter, with operating ...

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Garmin reports strong revenue, operating income growth

Garmin Ltd. announced results for the fourth quarter and fiscal year ended Dec. 28, 2019. “2019 was another exciting year of growth thanks to our strong lineup of products and unique innovations,” said Cliff Pemble, president and chief executive officer of Garmin Ltd. “We entered 2020 with a great lineup of recently introduced products with more on the way. We ...

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Garmin reports record results for Q3

Garmin Ltd. recently announced its results for the third quarter ended Sep. 28, 2019. Garmin said highlights for the 2019 quarter included revenue of $934 million, which was a 15% increase over the prior year quarter. All of the company's segments — aviation, fitness, outdoor and marine collectively increased 24% over the prior year quarter. The company had a gross ...

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Garmin mourns the loss of co-founder Gary Burrell

Garmin International, Inc., a unit of Garmin Ltd. (NASDAQ:GRMN), announced that Gary Burrell, aviation pioneer and co-founder of Garmin Ltd., passed away on June 12, 2019, at the age of 81. Burrell retired in 2002 and continued to serve as Garmin’s co-chairman until 2004 when he was named Chairman Emeritus. Mr. Burrell co-founded Garmin with Dr. Min Kao in 1989 ...

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Garmin announces Q4 FY 2018 results

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Garmin Ltd. announced results for the fourth quarter and fiscal year ended Dec. 29, 2018. “2018 was another remarkable year of revenue and operating income growth driven by strong performance in our aviation, marine, outdoor and fitness segments,” said Cliff Pemble, president and chief executive officer of Garmin Ltd. “Entering 2019, we see many opportunities ahead and believe that we ...

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Garmin reports record Q1 revenue, double-digit earnings growth

Garmin Ltd. recently announced its results for the first quarter ended March 31, 2018. The company's 2018 Q1 highlights included a total revenue of $711 million, 11 percent over last year. Garmin’s marine segment posted revenue growth of 9 percent, driven by the recent Navionics acquisition. Gross margin increased year-over-year to 59 percent, while operating margin declined to 12 percent. ...

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Garmin releases Q4 Fiscal 2017 results

Garmin Ltd. (Nasdaq: GRMN) has announced results for the fourth quarter and fiscal year ended Dec. 30, 2017. “2017 was our second full year of sales and operating income growth driven by strong sales in our outdoor, aviation and marine segments,” said Cliff Pemble, president and chief executive officer of Garmin Ltd. “Entering 2018, we see additional growth opportunities ahead ...

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Garmin acquires OEM provider Trigentic

Garmin Ltd. has acquired Trigentic AB, a privately-held provider of intelligent products, solutions, and services in the areas of embedded systems, power supply, and power distribution for the marine and recreational vehicle (RV) market. The Trigentic components are marketed and sold under the EmpirBus brand. “The acquisition of Trigentic will allow Garmin to more completely serve marine and RV OEMs with ...

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