All Garmin articles
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News briefsSuccessor for Garmin’s first General Counsel
Switzerland-based Garmin Ltd. announced today that Andrew Etkind, a company veteran, will step down from the position of General Counsel, effective July 1, 2024. Etkind will continue to serve as Vice President and Secretary for Garmin, while Josh Maxfield will assume the role of Vice President, General Counsel and Assistant ...
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ArticleGarmin reports strong Q4 results, guides to 10 percent revenue growth in FY24
Fueled by double-digit gains in both net sales and operating income, Garmin reported strong Q4 results and offered guidance on FY24, where it sees total sales improving by 10 percent to $5.75 billion but overall gross margin contracting by 100 basis points to 56.5 percent. In Q4 ended Dec. ...
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ArticleGarmin posts strong Q3 results
Bolstered by double-digit percentage growth in revenue, operating income and net income and record Q3 sales in four of five segments, Garmin reported a 12.9 percent increase in operating income to $270.4 million for the period ended Sept. 30 as net income came in 22.0 percent higher at $257.2 million ...
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ArticleInterest income and currency gains drive net profit in Garmin's Q2
Boosted by more than $29.6 million in interest income and gains on foreign currency, Garmin posted 11.7 percent net income growth to $287.9 million from $257.9 million. Without the two gains, the group’s profit would have been essentially flat for the period ended July 1. Second quarter operating income fell ...
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News briefsGarmin and Outdooractive become partners of German Mountain and Ski Guides Association
With Garmin and Outdooractive, the German Mountain and Ski Guides Association (VDBS) welcomes two prominent industry partners to its network and is pleased to be able to offer mountain and ski guides and hiking guides even more benefits in the future. “As a professional association, we create the optimal framework ...
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News briefsStar investors for the All in Biking app
Spanish tennis players David Ferrer and Juan Carlos Ferrero and former Moto GP racer Sete Gibernau have invested in All in Biking. Headquartered in Alicante, Spain, All in Biking was founded in November 2021 by José Julio Becerril and Juan Antonio Cano. Through the All in Biking app, users can ...
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ArticleGarmin maintains FY23 outlook
Garmin, which generated an 85 percent increase in Q1 free cash flow to nearly $232.4 million and paid a quarterly dividend approaching $140 million, is standing by its FY23 financial guidance that calls for approximate revenues of $5.0 billion and pro forma EPS of $5.15 a share. In Q1, ...
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ArticleGarmin's operating income drops in Q4, targets $5 billion for FY23
Positive currency effects of more than $44.5 million helped Garmin report a 2.5 percent increase in Q4 net income to $293.3 million from $286.1 million. Operating income decreased 15 percent to $267.2 million for the period ended Dec. 31, but gross margin improved to 57.0 percent from 55.5 percent. Total ...
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News briefsFull Circle Everest Expedition summits and sets a sign of diversity in climbing
Seven members of the all-black climber’s team of the Full Circle Everest Expedition reached the summit peak on May 12, 2022, roughly 60 years after the first U.S. citizen climbed Everest for the first time. The Full Circle Everest Expedition (counting eleven experienced climbers) set out to make history with ...
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News briefsVF named one of the top female-friendly companies in the world
VF Corp. was ranked 12th out of 300 companies on Forbes’ list of “World’s Top Female Friendly Companies 2021,” a ranking compiled by Forbes and market research firm Statista Inc. For the list, 85,000 women in 40 countries were surveyed and asked to rate their employers on criteria such as ...
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News briefs
Garmin presents a children’s book based on its Women of Adventure series
Source: Garmin Garmin International has introduced “ Women of Adventure: Being Brave in a Big World ,” a children’s book featuring six true stories of sport and passion from the brand’s Women of Adventure watch series. The book, written and illustrated by Garmin associates, ...
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News briefsGarmin opens manufacturing facility in Wroclaw, Poland
Garmin has opened a new manufacturing and distribution facility in Wroclaw, Poland, to serve automotive and CE customers throughout Europe. The BREEAM (Building Research Establishment Environmental Assessment Method) certified facility includes nearly 30,000 square feet of state-of-the-art manufacturing and distribution space dedicated to the production and supply of infotainment ...
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ArticleGarmin’s outdoor and fitness sales surge
Robust demand for advanced wearables and cycling products helped Garmin post record results for the fourth quarter of 2020. The company headquartered in Schaffhausen, Switzerland, with operational headquarters in Olathe, Kansas, which also makes equipment for the aviation and automotive industries, reported that its total sales rose by 23 ...
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News briefs
Fitbit and Garmin win an IP round against Philips
An administrative law judge of the International Trade Commission of the U.S. issued an initial determination that clears Garmin and Fitbit of a charge that they have been infringing on patents held by Koninklijke Philips and its North American subsidiary. In December 2019, the Dutch electronics multinational ...
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News briefs
Garmin Italy with executive changes
Garmin Italy has appointed Sara Cesarotti as marketing and communication manager for the sports, outdoor, and automotive sectors. Cesarotti was hired from Google Italy , where she served as retail marketing manager. The company has also announced changes in its Marine division, where Carlo Brevini has been ...
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ArticleOutdoor industry stocks among the winners of 2020
While the outdoor industry had a very difficult start of the year in 2020, when the pandemic forced Europe and America to adopt strict lockdowns, it bounced back significantly in the summer when restrictions were lifted, as people looked to escape crowds in the outdoors. The combined market capitalization of ...
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News briefsGarmin acquires GEOS Worldwide
Source: © Garmin Deutschland GmbH Garmin inReach Mini Garmin has acquired GEOS Worldwide , a company based in Montgomery, Texas, that provides emergency monitoring and incident response services, including search and rescue services for skiers, outdoor adventurers and boaters. The terms of the asset ...
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ArticleOutdoor, marine and fitness drive record Q3 for Garmin
Garmin has reported record third-quarter earnings of $313.4 million, thanks to robust growth in demand for its marine, fitness and outdoor products. The Swiss-based company, which also makes equipment for the aviation and automotive industries, reported net sales of $1.11 billion for the 13 weeks to Sept. 26. This ...
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ArticleGarmin hit by cyber attack
Garmin confirmed that the company was the victim of a cyber attack on July 23 in which some of Garmin’s systems were encrypted by outsiders, resulting in a significant failure of the company’s popular fitness tracking services. The German news site Spiegel Online reported indications that the company ...
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News briefsGarmin introduces new solar watches, cable charging becomes practically unnecessary
Garmin is expanding its solar product portfolio and now offers even more watches with an integrated, transparent solar charging lens that uses solar energy. In addition to a significantly extended battery life, some models also come with new features. The popular fēnix 6 series is now available as ...
