Revenues from the outdoor and fitness segments at Garmin grew by 13.5 percent to $80 million in the first quarter ended March 28. The company, which makes personal navigation devices (PND), said this was a result of its penetration in the channel and increasing market shares in the fitness division. Worldwide, its market share in the PND segment was 37 percent at the end of the fourth quarter 2008. In the outdoor/fitness division, the gross profit margin for the quarter jumped by 7.4 percentage points to 60.5 percent. Operating margins fell in all other segments, and the company overall had a 67.2 percent drop in earnings to $48.5 million compared with the same period last year.
