Garmin Reports Record Third Quarter, Raises Guidance; Announces Management Appointment; Announces Intention to Make Offer to Purchase all the Outstanding Shares of Tele Atlas N.V.
PR Newswire Europe, October, 2007
CAYMAN ISLANDS, October 31 /PRNewswire/ --
Garmin Ltd. (Nasdaq: GRMN) today announced a record quarter ended September 29, 2007.
Third Quarter 2007 Financial highlights:
-- Total revenue of US$729 million, up 79% from US$408 million in third
quarter 2006
-- Automotive/Mobile segment revenue increased 118% to US$519 million in
third quarter 2007
-- Aviation segment revenue increased 27% to US$74 million in third
quarter 2007
-- Outdoor/Fitness segment revenue increased 24% to US$88 million in
third quarter 2007
-- Marine segment revenue increased 17% to US$48 million in third quarter
2007
-- All geographic areas experienced significant growth:
- North America revenue was...
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