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Pocket GPS World :: View topic - Garmin - Q4 2011 earnings surpass analyst forecasts
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Garmin - Q4 2011 earnings surpass analyst forecasts

 
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Darren
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PostPosted: Fri Feb 24, 2012 10:03 am    Post subject: Garmin - Q4 2011 earnings surpass analyst forecasts Reply with quote

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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.

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crazyhazy
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PostPosted: Fri Feb 24, 2012 10:33 am    Post subject: Reply with quote

I just wish their customer service department was as successful, it takes them approximately one week to reply Surprised
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Graham

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Darren
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PostPosted: Fri Feb 24, 2012 10:36 am    Post subject: Reply with quote

Have you tried calling them? Garmin CS has always been very good in my experience?
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crazyhazy
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PostPosted: Fri Feb 24, 2012 10:53 am    Post subject: Reply with quote

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 Embarassed
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Graham

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Kremmen
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PostPosted: Fri Feb 24, 2012 11:25 am    Post subject: Reply with quote

I wonder if this is partly due to disgruntled TomTom owners voting with their wallets ?
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xtraseller
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PostPosted: Fri Feb 24, 2012 8:29 pm    Post subject: Reply with quote

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
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