Joined: 11/07/2002 14:36:40 Posts: 23819 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: 954 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, 600 and 500, Live 1000
Garmin 3598-HD, 2517
Navigon 92 Live
Mio Navman 695
HTC One M8 TomTom, CoPilot Live, Navigon, Sygic
Apple iPhone5S & iPad2 & Mini Navigon & TomTom
Nokia Lumia 930 Windows Phone with Here Drive
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum