Tag Archives: Garmin

Garmin reports record Q2

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Garmin Ltd. recently announced results for the second quarter ended June 26, 2021. The company reported a total revenue of $1.33 billion, a 53% increase over the prior year quarter with double-digit growth in all segments. “Strong demand for active lifestyle products continued, and we experienced solid recovery within our aviationand auto segments resulting in record revenue and profits in ...

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Garmin reports Q1 FY21 results

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Garmin Ltd. recently announced results for the first quarter ended March 27, 2021. Highlights for first quarter 2021 include: Total revenue of $1.07 billion, a 25% increase over the prior year quarter led by double-digit growth in the fitness, outdoor, marine and auto segmentsGross margin improved to 59.8% compared to 59.2% in the prior year quarterOperating margin improved to 23.3% ...

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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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Turn it up!

By Adam Quandt The boat business has found itself booming over the last year. Sales are up across the board for both new and used boats. But what does that mean for the entertainment components designed to bring the boaters’ experience to the next level? Audio options offer one of the easiest points for boaters to make some simple upgrades ...

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Garmin acquires GEOS Worldwide

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Garmin International and Garmin Services, units of Garmin Ltd., announced the acquisition of substantially all the assets of GEOS Worldwide Limited and its subsidiaries. A privately held, industry leading provider of emergency monitoring and incident response services, GEOS Worldwide operates the International Emergency Response Coordination Center (IERCC), the nerve center for SOS rescue efforts triggered by Garmin’s inReach personal satellite ...

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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 named Manufacturer of the Year by NMEA

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Garmin International Inc. announced that it was named Manufacturer of the Year for the sixth consecutive year by members of the National Marine Electronics Association (NMEA) at its annual business meeting and awards presentation held virtually on Sept. 26. The coveted Manufacturer of the Year honor is given to the most recognized company in the marine electronics industry for excellence ...

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Manitou selects Fusion for standard audio equipment for MY 2021

Garmin International, Inc. announced that Manitou Pontoon Boats will install marine audio packages from Fusion Entertainment, a Garmin Brand, as the standard-fit for select model year 2021 pontoon boats. Manitou exclusively offers the GarminECHOMAP UHD 73sv and GPSMAP chartplotters for its entire lineup and will add a range of Fusion Entertainment stereos, speakers and amplifiers for the upcoming boating season. ...

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Garmin reports second quarter revenue

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Garmin Ltd. announced results for the second quarter ended June 27, 2020. Highlights for second quarter 2020 include: Total revenue of $870 million, a 9% year-over-year decrease, as strength in fitness and marine partially offset declines in outdoor, aviation, and automotive.Gross margin and operating margin were 59.3% and 21.7%, respectively.Expanded an exclusive relationship with Regulator Marine, adding Fusion® Entertainment as ...

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Avalon and Tahoe select Fusion Entertainment for marine audio packages

Fusion Marine Audio

Garmin International, Inc., a unit of Garmin Ltd., announced that Avalon and Tahoe Manufacturing selected Fusion Entertainment to exclusively supply marine entertainment audio packages for its entire line of pontoons starting with model year 2021. Avalon announced to dealers that it will fully integrate Fusion Entertainment stereos, speakers, and amplifiers as a standard fit in each level of its high-performance, ...

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