Garmin announce a very strong quarter

Garmin

Garmin announced its first 2007 quarter earnings: Revenues were up 53% from last year. They shipped a total of 1.55 million units. Here is a breakdown by segments of Garmin’s earnings:

  • Automobile segment – Up 110%
  • Outdoor/Fitness segment – Down 5%
  • Aviation segment – Up 26%
  • Marine segment – Down 15%

Growth by Geographical areas:

  • North America – Up 60%
  • Europe – Up 45%
  • Asia – Up 17%

These results have been fueled by the quality of products that Garmin make. They release several new car navigation systems this spring and will are scheduled to release some new products later this year.

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