New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Schaffhausen, Switzerland – GPS supplier Garmin posted a 4 percent decline in consolidated sales in the third quarter to $643.6 million and a 5.2 percent drop in operating income to $151.8 million.
Thanks to an income tax benefit of $26.9 million, third-quarter net income soared 33.7 percent to $187.7 million.
Sales declined in its auto/mobile and outdoor segments but rose in its fitness, marine, and aviation segments.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
Olathe, Kan. – Garmin International revealed Tuesday that it has entered the action video camera category, offering what it calls its “first true HD 1080p action camera series,” including a model with built-in GPS functionality.
The two-model Garmin VIRB action video camera series is part of the GPS-product company’s expanding lineup of outdoor devices.
Schaffhausen, Switzerland — Garmin reported slumping net sales for its fiscal second quarter, ended June 29.
Total revenue was $697 million in the quarter, down 3 percent from $718 million in the prior-year period. Broken out by category, sales were up 6 percent in outdoor ($106.9 million vs. the prior year’s $100.5 million) but down 12 percent in automotive/mobile ($344.7 million vs. $392.1 million).
Sales were up 16 percent in aviation, 3 percent in fitness and 7 percent in marine.
Olathe, Kan. – Here’s something that Elmer Fudd could have used to catch that wascally wabbit.
GPS supplier Garmin is adding to its outdoor-product segment with the July shipment of a next-generation GPS-equipped dog-tracking collar and a tracking receiver.
The DC 50 collar carries a minimum retail price of $229, and the DC 50 bundled with an Astro 320 hand-held tracking receiver is priced at a minimum $599. They’ll ship to brick-and-mortar and online outdoor sporting goods retailers such as Cabela’s and Bass Pro.
Olathe, Kansas – Garmin will ship its first portable navigation device (PND) intended for RV users in the summer.
The Garmin RV 760LMT will retail for a suggested $399.
The device features large 7-inch screen and ability to generate routes based on height and weight restrictions on roads and bridges. Users enter their vehicle’s height, weight, length and width to find routes suitable for their RV, Garmin said.
Schaffhausen, Switzerland – Market-share gains in Garmin’s portable navigation device (PND) segment could not offset declining industrywide PND sales in the fourth quarter, helping drive down Garmin’s fourth-quarter consolidated sales by 16 percent to $768.5 million.
Garmin also posted fourth-quarter sales declines in its outdoor, aviation and marine GPS segments, though fitness-segment revenues grew.
Schaffhausen, Switzerland—Clifton Pemble has been named president/CEO of Garmin by its board, effective Jan. 1.
Pemble has been president/COO since October 2007.
As part of the change, Garmin co-founder Dr. Min Kao relinquishes his CEO position but remains chairman. He also assumes the role of executive chairman, providing ongoing support to the company’s strategic planning and business development processes, the company said.
Pemble joined Garmin in 1989 as one of the company’s first engineers.
Schaffhausen, Switzerland – A slight decline in Garmin’s portable navigation device (PND) business was offset by gains in the company’s OEM automotive segment and other market segments to boost the company’s third-quarter sales by 1 percent to $672 million.
A “slight decline” in PND revenues was offset by “strong growth” in OEM revenues from automakers, the company said. “We believe that our PND volumes continue to trend ahead of the industry due to market share gains,” added Dr. Min Kao, chairman/CEO.