Zacks Analyst Interview Highlights: Garmin, Ltd. and Varian Semiconductor

Business Wire, Oct 2, 2008

CHICAGO -- Zacks.com releases the latest Analyst Interview. Today's interview is with senior analyst Ken Nagy, who discusses Garmin, Ltd. (Nasdaq: GRMN) and Varian Semiconductor Equipment Associates, Inc. (Nasdaq: VSEA).

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Have you published any Buy reports lately? If so, which ones?

Garmin, Ltd. (Nasdaq: GRMN) is an original equipment manufacturer (OEM) of navigation and communication equipment that incorporate global positioning system (GPS)-based technology. Its end-product markets include marine, recreation, automotive and aviation.

The company's diverse portfolio of handheld, portable and fixed-mount GPS-enabled devices provides geographical location and navigation data using the GPS satellite system. The GPS system consists of a constellation of 24 orbiting satellites and ground monitoring stations that are controlled and maintained by the U.S. Department of Defense (DoD). A GPS receiver can calculate accurately any worldwide position within 10 meters or less.

What's your forward outlook for the GPS market overall?

The handset market is likely to be the largest driver of GPS sales in the next few years. According to an iSuppli report, GPS-enabled mobile handset shipments will grow from 109.6 million units in 2006 to around 444 million units in 2011. In 2006, 11.1% of all handsets were equipped with GPS functionality. iSuppli expects this percentage to increase to 30% by 2011.

Was there another Buy rec issued recently on a company in your coverage?

Varian Semiconductor Equipment Associates, Inc. (Nasdaq: VSEA) is a supplier of ion implantation equipment used in the fabrication of semiconductor chips. Varian Semiconductor designs, manufactures, markets and services semiconductor processing equipment for virtually all of the major semiconductor manufacturers in the United States, Europe and Asia Pacific.

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