Joined: 11/07/2002 14:36:40 Posts: 23774 Location: Hampshire, UK
Posted: Fri Feb 24, 2012 10:03 am Post subject: Garmin - Q4 2011 earnings surpass analyst forecasts
Garmin have cause to celebrate following the release of their Q4 2011 earnings report.
Surpassing analyst predictions by as much as 30%, Garmin reported Q4 revenue of $906m, up 36.4% on the previous quarter and 8.6% over earnings in the same period of 2010. Currency fluctuations had an -11% impact without which earnings would have been even higher.
Garmin have always had a presence in a number of market areas and this seems to be paying dividends. Although the PND market continues to decline, the in-dash market is growing as are sales of outdoor and fitness products.
Sales in Europe, aided by the purchase of Navigon helped offset a stagnant North American market with growth remaining strongest in the Auto/Mobile market segment. Garmin's focus on Outdoor and Fitness market areas has also seen large gains whilst Aviation remained fairly static and Marine was down 10% over Q3.
Joined: Oct 20, 2006 Posts: 171 Location: Cheshire
Posted: Fri Feb 24, 2012 10:53 am Post subject:
Actually, no I haven't, normally you would not think twice about ringing because of the charges involved nowadays, I have just noticed they have a freephone number, well there you go, apologies to Garmin customer services _________________ Graham
App 8.010 (9369/080529) OS:190943
GPS v1.21, Boot 5.5011
United Kingdom and Replublic of Ireland v885.4058
Joined: 15/07/2003 22:59:27 Posts: 925 Location: United Kingdom
Posted: Fri Feb 24, 2012 8:29 pm Post subject:
Probably down to market saturation at least in the PND market where really you have 2 main choices everywhere - Garmin (including a horde of sub-£100 units) and TomTom, plus in a few stores and online retailers Navman / Mio
Pretty much everyone else has dropped out, and at the price many PNDs retain at today, I know a lot of people who buy one, just because they can and may find it useful twice a year
Good on Garmin though, lets hope they plough some of it's cash in to a decent routing algorithm (haven't tried their latest v3 routing)and some sharper map displays (map render not screen resolution - their new top end units look okay there)
As for moving to Garmin from TomTom, after many years preferring Garmin I have (95%) converted TO TT _________________ TomTom Go Live 6000 and 500, Live 1000 and Start 60
Garmin 3598-HD (New), 2595W
Navigon 92 Premium Live
Mio Navman 695
Samsung Galaxy Note TomTom, CoPilot Live, Navigon, Sygic
Apple iPhone4 & iPad2 & Mini Navigon & TomTom
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