$GRMN (Garmin Ltd.)

$GRMN {{ '2016-02-17T16:58:20+0000' | timeago}} • Webcast

$GRMN ended 4Q15 with cash and marketable securities of about $2.4Bil. Inventory balance rose YoverY to $501MM. As a result, the company grew its product offerings. Free cash flow was $131MM. During 4Q15, the company paid dividends of $97MM, repurchased $23MM of stock with $161MM remaining for purchase for Dec. 2016.

$GRMN {{ '2017-09-08T21:48:38+0000' | timeago}} • Announcement

Garmin International Inc., a unit of $GRMN, said a jury verdict was reached in a patent lawsuit brought by Navico against Garmin in the Eastern District of Texas. The jury found that Garmin had willfully infringed two Navico "downscan" patents and awarded damages of $38MM.

$MA {{ '2017-08-31T16:01:15+0000' | timeago}} • Announcement

Payments network provider $MA is adding its contactless payment to Garmin's vivoactive3 smartwatch. $GRMN unveiled vivoactive3 today at IFA show. Users can enter/scan their card details using $GRMN's Connect app. One can pay by tapping the device near a contactless terminal at more than 6.6MM locations globally.

$GRMN {{ '2017-08-31T14:01:38+0000' | timeago}} • Announcement

$GRMN's units Garmin International launched its newest fitness-tracking smartwatch Vivoactive 3. This smartwatch comes with a built-in GPS and sensors for monitoring heart rate.  The watch also has 15 built-in sports apps. Garmin Pay, is the new payment feature on Vicoactive 3 that works on contactless payment technology.

$FIT {{ '2017-08-28T16:40:47+0000' | timeago}} • Hot News

Calling it a historic launch, wearables maker $FIT has unveiled ‘Fitbit Ionic’, its first health and fitness smartwatch. Fitbit Ionic joins the smartwatch club along with $AAPL (Apple Watch) and $GRMN. Priced at $299.95, Fitbit Ionic is expected to hit the stores in October 2017.

$GPRO {{ '2017-08-03T20:34:41+0000' | timeago}} • Announcement

The action camera maker $GPRO, that is facing increased competition from $GRMN lately, saw its camera shipments for 2Q17 surge 40% YoY. The company also reported that its HERO6 and Fusion cameras are on track for 2017. Additionally, Karma drone was the second largest selling drone brand in the U.S. in the quarter.

$GRMN {{ '2017-08-02T14:15:53+0000' | timeago}} • Infographic

$GRMN Garmin Earnings AlphaGraphic: Q2 2017 highlights

$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.

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