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Last $45.86 USD
Change Today +0.67 / 1.48%
Volume 913.4K
GRMN On Other Exchanges
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

garmin ltd (GRMN) Key Developments

Garmin Ltd. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 28, 2015; Provides Earnings Guidance for the Full Year of 2015

Garmin Ltd. announced unaudited consolidated earnings results for the first quarter ended March 28, 2015. For the quarter, the company reported net sales of $585,394,000 against $583,221,000 a year ago. Operating income was $111,698,000 against $120,369,000 a year ago. Income before income taxes was $76,196,000 against $142,467,000 a year ago. Net income was $66,793,000 against $118,818,000 a year ago. Diluted net income per share was $0.35 against $0.61 a year ago. Net cash provided by operating activities was $81,655,000 against $71,173,000 a year ago. Purchases of property and equipment were $18,143,000 against $15,537,000 a year ago. Purchase of intangible assets was $717,000 against $1,111,000 a year ago. Pro forma net income was $105,594,000 against $108,131,000 a year ago. Pro forma diluted net income per share was $0.55 against $0.55 a year ago. Free cash flow was $63,512,000 against $55,636,000 a year ago. For 2015, the company is maintaining the guidance of approximately $2.9 billion of revenue and approximately $3.10 of pro forma EPS as performance thus far is consistent with expectations. The company anticipated a full year tax rate of 16% to 17%.

Garmin Ltd. Proposes Payment of Cash Dividend, Payable on June 30, 2015, September 30, 2015, December 31, 2015, March 31, 2016

Garmin Ltd. at its AGM to be held on June 5, 2015, proposed the payment of a cash dividend in the aggregate amount of $2.04 per outstanding share out of Garmin's general reserve from capital contribution in four equal installments of $0.51 per share. The Board expects that the dividend payment and record dates will be June 30, 2015, September 30, 2015, December 31, 2015, March 31, 2016 and June 16, 2015, September 15, 2015, December 15, 2015, March 15, 2016 respectively.

Garmin Ltd. to Report Q1, 2015 Results on Apr 29, 2015

Garmin Ltd. announced that they will report Q1, 2015 results at 10:30 AM, US Eastern Standard Time on Apr 29, 2015

Garmin Ltd., Q1 2015 Earnings Call, Apr 29, 2015

Garmin Ltd., Q1 2015 Earnings Call, Apr 29, 2015

Garmin Ltd. Releases GDL 84 ADS-B solutions

Garmin Ltd. announced the delivery of the initial orders for the GDL 84, a new addition to the company's lineup of certified ADS-B solutions. The GDL 84 provides an all-inclusive option for owners looking to satisfy the requirements of NextGen, while providing the benefits offered by ADS-B In without the need to significantly modify the panel of the aircraft. For $3,995, the GDL 84 comes complete with an integrated WAAS GPS, installation kit, configuration module, GPS antenna, and the Flight Stream Bluetooth wireless gateway, offering customers the industry's most comprehensive ADS-B package and cost-effective solution available on the market. Installation is quick and easy because the GDL 84 is a straightforward solution that wirelessly transmits weather and traffic information via Flight Stream 110/210 to a mobile device with Garmin Pilot, instead of an installed multifunction display in the cockpit. Additionally, for aircraft owners who do not already have a compatible WAAS GPS position source on board their aircraft, the GDL 84 offers a built-in WAAS GPS receiver. The GDL 84 is an all-in-one solution, which meets regulatory requirements and gives pilots the added benefits without the cost associated with a large installation. Becoming rule-compliant and preserving the existing aircraft panel are important to many aircraft owners. Because of the versatility and wireless functionality offered by the GDL 84 and Flight Stream, the existing panel configuration remains intact. Garmin's patented self-interrogation feature allows the GDL 84 to wirelessly communicate and interface with a wide range of general aviation transponders to synchronize squawk code and ident. This unique technology enables the ADS-B Out source to broadcast the same code as the transponder, simplifying the installation and eliminating the need to install an additional ADS-B control panel. This exclusive feature reduces pilot workload, preventing the need to manually enter two squawk codes. The GDL 84 has received the FAA's Approved Model List Supplemental Type Certification (AML STC) for hundreds of aircraft makes and models.


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