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Garmin’s strong fourth quarter shows seamless shift to active products

by GPS4US 2014-02-21 10:39

Well, well, well. Maybe there really is something to this whole health angle Garmin has been taking

The company reported strong fourth quarter earnings of $760 million, much stronger than Wall Street
expected predicted. As a result, the company’s stock jumped 8 percent Wednesday.

What’s more, Garmin says that half of that revenue came from non-automotive and mobile sales. So, as
smartphones eat into the navigation business, Garmin seems to have shifted seamlessly to another niche.

Late 2013 and early 2014, Garmin released a flurry of fitness and mobile devices. The vivofit made news
at the Consumer Electronics Show in January, and the Approach S4 continued their line of golf units.

Sales of Garmin’s fitness, aviation and marine segments grew 14 percent in the fourth quarter.

So, even as the GPS landscape changes, Garmin is still keeping ahead of the curve.

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