The Latest in IT Security

Aviation, fitness sales drive Garmin profit; shares jump

20
Feb
2014

Garmin Ltd handily beat quarterly profit estimates and forecast a strong 2014 as sales of GPS-based fitness, aviation and outdoor products more than made up for shrinking sales of personal navigation devices, a market it once dominated. Garmin shares jumped as much as 12 percent to $52.72 – their highest in six years. The stock, however, is still a far cry from the high of $124 it hit in 2007, when personal navigation devices were high in demand and featured on most year-end gifting lists. Garmin said on Wednesday it expects revenue to grow 10-15 percent from businesses other than its personal navigation device unit, where revenue is expected to fall 10-15 percent.

Comments are closed.

Categories

SATURDAY, DECEMBER 04, 2021
WHITE PAPERS

Mission-Critical Broadband – Why Governments Should Partner with Commercial Operators:
Many governments embrace mobile network operator (MNO) networks as ...

ARA at Scale: How to Choose a Solution That Grows With Your Needs:
Application release automation (ARA) tools enable best practices in...

The Multi-Model Database:
Part of the “new normal” where data and cloud applications are ...

Featured

Archives

Latest Comments