August 4, 2010

Garmin Earnings at Record Level Sales Up - Flat Outlook


Garmin had what amounts to a pretty good quarter with all product segments achieving growth on some level - off from the teeth rattling growth of years past, but pretty good considering the weak economy, the surge of mobile phone based navigation and determined competition. While the auto segment sales were only up 2%, the Outdoor Fitness area was up 32% behind strong promotion this past quarter of the older Forerunner 305, and the newer models of the Forerunner including the Forerunner 405, Forerunner 110, as well as the Edge 500.   

Geographically sales in the established markets of the US and Europe were not the hot spots with revenue up 4% and 14% respectively, whereas sales in Asia were up 37%; too bad that represents less than 10% of their business. Finally sales on a unit basis were up 8%.

Garmin lowered their outlook for the rest of the year citing currency exchange factors and a lowered automobile segment forecast. The latter partially driven by the continued lowering of prices in that segment by about 5% - 10%.

Read More in: Earnings Announcements

Share this Article with others: social bookmarking

Related Articles:

Came straight to this page? Visit GPS Lodge for all the latest news.

Posted by Scott Martin at August 4, 2010 9:33 AM

Recent Comments

Post a comment

Remember personal info?

Please enter the letter "j" in the field below:
Please press Post only once. Submission of comments takes up to 20 seconds because of Spam Filtering.
Join the Mailing List Mailing List
Enter your Email

Powered by FeedBlitz

facebook_badge.jpg twitter_badge.jpg

Subscribe - RSS
Site Navigation

Visit our other properties at!



This weblog is licensed under a Creative Commons License.

Powered by
Movable Type 6.3.6
All items Copyright © 1999-2017 Blogpire Productions. Please read our Disclaimer and Privacy Policy