twice connect
careers

Garmin Reports Record Quarter

10/31/2007 10:47:00 AM Eastern

Olathe, Kan. — Garmin, which said it would make a public offer for TeleAtlas, also reported record third-quarter results.

Net sales were $729 million, up 79 percent from the same period last year, and net income was $193.5 million, up from $122.9 million the previous year.

The company said strong sales in its automotive/mobile segment “continue to exceed our expectations” and that the GPS maker sold 2.69 million units in the third quarter, up 119 percent from the same quarter in 2006. Year-to-date units sold increased 97 percent from the same period in 2006.

By segment, automotive/mobile revenue increased 118 percent to $519 million in the quarter. Aviation increased 27 percent to $74 million, while outdoor/fitness segment revenue increased 24 percent to $88 million. The marine segment revenue increased 17 percent to $48 million in the quarter.


In North America revenue was $454 million compared with $265 million to the previous year’s third quarter.

PHOTOS
NATM Annual Meeting

Besides the usual business of planning out the

Ultra HD OLED TVs In IFA Spotlight

At IFA, all Ultra HD makers are quickly expanding

Jack Wayman, the Father Of International CES

Tributes continue to pour in for Jack Wayman, who

Nationwide PrimeTime 2014

Scenes from Nationwide PrimeTime buy fair held in