$GRMN (Garmin Ltd.)

$GRMN {{ '2016-06-30T14:34:47+0000' | timeago}} • Announcement

Garmin International Inc., a subsidiary of $GRMN said that it unveiled the Oregon 700, 750 and 750t series of touchscreen outdoor handheld GPS units. These handhelds come with the new Active Weather feature for real-time forecast information with live weather radar so that users will be well aware of inclement weather-related issues.

$GRMN {{ '2017-07-20T17:11:03+0000' | timeago}} • Announcement

$GRMN acquired privately-held Alphamantis Technologies, a designer of aerodynamics testing and measurement technology for the cycling industry. The majority of associates will be retained and will continue working in Montreal, Canada. Financial terms of the acquisition will not be released.

$GRMN {{ '2017-07-18T16:16:01+0000' | timeago}} • Announcement

$GRMN said the G5 electronic flight instrument will soon be compatible with a wide range of third-party autopilots available on the market. Utilizing the new GAD 29B adapter, the G5 directional gyro (DG)/horizontal situation indicator (HSI) can interface with a variety of autopilots to provide heading and course error to drive the autopilot.

$GRMN {{ '2017-07-18T14:19:12+0000' | timeago}} • Announcement

$GRMN announced updates to the Specialized Turbo Levo data field, available for eBike riders in the Connect IQ store, an open platform for third-party developers to create apps for $GRMN products. The updated data field helps cyclists view their power output setting and battery level on their eBike directly from the Garmin wearable on their wrist.

$GRMN {{ '2017-06-13T17:57:32+0000' | timeago}} • Announcement

Garmin International Inc., a unit of $GRMN, prevailed in Navico patent dispute. The Federal Circuit’s decision not only reverses the ITC's original orders, but supersedes all related rulings by U.S. Customs and the ITC. Garmin is now free to import and sell any and all sonar products.

$GRMN {{ '2017-06-13T17:53:57+0000' | timeago}} • Announcement

Garmin International Inc., a unit of $GRMN, said the Court of Appeals for the Federal Circuit reversed a December 2015 finding by the International Trade Commission that Garmin had infringed Navico patents related to downscan sonar. Navico's two patents were ruled invalid and Garmin’s DownVu sonar does not infringe a third Navico patent.

$GRMN {{ '2017-06-09T20:54:30+0000' | timeago}} • Announcement

$GRMN approved a quarterly dividend of $2.04 per share through March 2018 payable in four equal instalments of $0.51 per share each. The first instalment is payable June 30, 2017 to shareholders of record on June 19, 2017.

$GRMN {{ '2017-06-06T13:46:18+0000' | timeago}} • Announcement

$GRMN announced the approval of the G5 electronic flight instrument for installation as a replacement directional gyro (DG) or horizontal situation indicator (HSI) in type-certificated fixed-wing general aviation aircraft.

$GRMN {{ '2017-05-11T17:39:09+0000' | timeago}} • Announcement

$GRMN acquired Active Corp., a developer of crowd sourced rich content for boaters, marketed as ActiveCaptain, which is an electronic marine database, for undisclosed terms. The founders and sole employees of ActiveCaptain, Karen and Jeffrey Siegel, will become employees of Garmin International.

$GRMN {{ '2017-05-03T15:38:53+0000' | timeago}} • Webcast

During 1Q17, $GRMN reserved lot of the advertising activities until 2Q17 and hence the company expects advertising expense in 2Q17 to increase sequentially and year-over-year as well. $GRMN will be promoting more popular wearables during 2Q17.

$GRMN {{ '2017-05-03T14:12:05+0000' | timeago}} • Announcement

In 1Q17, $GRMN's gross margin increased to 58.3% vs. 54.5% in the prior year quarter. Operating margin rose to 18.2% compared to 16.6%, improving operating income by 12%. In the quarter, Garmin reported a $150MM income-tax benefit and generated $95MM of free cash flow.

$GRMN {{ '2017-05-03T14:07:20+0000' | timeago}} • Announcement

Total revenue at $GRMN rose 2% to $638.5MM in 1Q17, as the fitness technology brand's net income jumped more than 2.7 times to $237.8MM from last year's $88.1MM. Earnings rose to $1.26 per diluted share from $0.46 a share, as marine, outdoor, aviation and fitness collectively grew 12% to contribute 75% of the revenue.

$GRMN {{ '2017-02-22T16:41:55+0000' | timeago}} • Webcast

$GRMN stated in terms of the product mix impact on GM, basic activity trackers have a low cost base so their margin profile does not improve the overall fitness market if they are weaker. The Vivo line, including the ones with GPS, are feature-rich products that have to sell at competitive prices. So their margin profile is generally lower.

$GRMN {{ '2017-02-22T16:26:37+0000' | timeago}} • Webcast

$GRMN anticipates the BMW program to start in late 2019 for production and revenue and this is for vehicles in the China market. It is a hardware-based Tier 1 opportunity so $GRMN invested in its factory capability to qualify as a Tier 1 supplier to BMW. Since this is a hardware opportunity, ASPs are higher than typical software opportunities.

$GRMN {{ '2017-02-22T16:17:45+0000' | timeago}} • Webcast

$GRMN said in 2017, although there is uncertainty in the fitness segment, the company believes there are growth opportunities. In outdoor, there are opportunities for Fenix and expansion of the DeLorme opportunity. In Marine, the product line is strong. Aviation will face economic challenges but there are incremental growth opportunities.

$GRMN {{ '2017-02-22T15:57:56+0000' | timeago}} • Webcast

$GRMN anticipates revenue growth of approx. 10% in the outdoor segment in 2017. The company is targeting revenue growth of approx. 5% in the fitness segment. In marine, revenue growth is expected to be approx 10% and in aviation, revenue growth is expected to be approx. 5%. Auto segment revenues are expected to decline approx. 17% in 2017.

$GRMN {{ '2017-02-22T15:47:57+0000' | timeago}} • Webcast

During 4Q16, $GRMN’s outdoor, fitness, marine and aviation segments collectively increased 25% YoY and contributed 74% of total revenues. GM improved YoY to 54.7%. Operating margin was essentially flat at 18.6%, while operating income increased 10%.

$GRMN {{ '2017-02-22T15:17:40+0000' | timeago}} • Announcement

BMW AG selected Garmin International Inc., a unit of $GRMN, as a tier-one supplier of infotainment computing modules for future BMW models. Garmin will be expanding its state-of-the-art automotive OEM manufacturing capability and capacity in order to serve BMW production requirements.

$GRMN {{ '2017-02-22T13:22:17+0000' | timeago}} • Infographic

$GRMN Garmin Ltd. Earnings AlphaGraphics: Q4 2016 Highlights

$GRMN {{ '2017-02-22T12:50:10+0000' | timeago}} • Announcement

$GRMN's revenue grew in all segments except auto segment, which declined 17% in 4Q16 versus a year ago. Outdoor, fitness, marine and aviation segments posted revenue growth of 46%, 20%, 19% and 13%, respectively.

$GRMN {{ '2017-02-22T12:41:14+0000' | timeago}} • Announcement

For 2017, $GRMN estimates revenue to be approx. $3.02Bil and pro forma EPS of approx. $2.65. "Entering 2017, we see additional growth opportunities ahead and we are well positioned to seize these opportunities with a strong lineup of great products," said CEO Cliff Pemble.

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