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Wednesday, November 4. 2009

Garmin Profits Up (despite SatNav chaos)

It may be a bit hard to fathom since TomTom saw losses based on lower margins that Garmin saw profit increase on what? Higher margins! "Garmin Ltd.'s (GRMN) third-quarter profit rose 26% as improved margins more than offset a moderate decline in revenue."

The stock is up 64% this year.

- WSJ

Posted by Adena Schutzberg in Satellite Navigation at 07:48 | Comments (4) | Trackbacks (0) | Bookmark and Share

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"despite SatNav chaos" ... even mighty Google is not powerful enough to announce a new offering that affects another company's historical profits :-O (Q3 presumably finished at end of September, which now seems a long time ago in the SatNav world!).
#1 Peter Batty (Link) on 2009-11-04 09:37 (Reply)
Peter,

I was thinking of the chaos even before the Google announcement as satnav phone apps proliferated - especially in the iPhone 3G.

Adena
#1.1 Adena Schutzberg (Link) on 2009-11-04 10:44 (Reply)
Ah okay :-) ... just the first rumblings of chaos!
#1.1.1 Peter Batty (Link) on 2009-11-04 11:18 (Reply)
Looks like GRMN stock price fell 14.5% today.
#2 Kirk Kuykendall (Link) on 2009-11-04 16:45 (Reply)

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