Locating a Winner: Garmin
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Garmin Reports Record Third Quarter 2004 Revenue and Earning
Garmin Reports Record Third Quarter 2004 Revenue and Earnings
10/27/2004 7:02:00 AM
CAYMAN ISLANDS, Oct 27, 2004 /PRNewswire-FirstCall via COMTEX/ --
Garmin Ltd. (GRMN) today announced record revenue and earnings for its third fiscal quarter ended September 25, 2004.
Revenue for the quarter increased 43 percent to $193.6 million from $135.6 million in the year-ago quarter.
Net income was $67.1 million, or $0.62 diluted earnings per share, compared to $35.3 million or $0.32 diluted earnings per share in the year-ago quarter.
Third quarter net income included a $4.4 million foreign currency gain as a result of a stronger U.S. dollar compared to the Taiwan dollar.
Excluding the effects of foreign currency, diluted EPS for the quarter was $0.58 compared to $0.39 in the year-ago quarter, exceeding the high end of management's guidance of $0.42 to $0.45
http://cbs.marketwatch.com/tools/quotes ... .asp?guid={28C5F821-063B-46F0-BCBD-51CFD0DA9FE2}&siteid=mktw&dist=nbs&symb=
10/27/2004 7:02:00 AM
CAYMAN ISLANDS, Oct 27, 2004 /PRNewswire-FirstCall via COMTEX/ --
Garmin Ltd. (GRMN) today announced record revenue and earnings for its third fiscal quarter ended September 25, 2004.
Revenue for the quarter increased 43 percent to $193.6 million from $135.6 million in the year-ago quarter.
Net income was $67.1 million, or $0.62 diluted earnings per share, compared to $35.3 million or $0.32 diluted earnings per share in the year-ago quarter.
Third quarter net income included a $4.4 million foreign currency gain as a result of a stronger U.S. dollar compared to the Taiwan dollar.
Excluding the effects of foreign currency, diluted EPS for the quarter was $0.58 compared to $0.39 in the year-ago quarter, exceeding the high end of management's guidance of $0.42 to $0.45
http://cbs.marketwatch.com/tools/quotes ... .asp?guid={28C5F821-063B-46F0-BCBD-51CFD0DA9FE2}&siteid=mktw&dist=nbs&symb=
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Garmin Ltd. Invites You to Listen to Its Third Quarter 2004 Earnings Call
10/6/2004 9:01:00 AM
CAYMAN ISLANDS, Oct 6, 2004 /PRNewswire-FirstCall via COMTEX/ -- Garmin Ltd. (GRMN) invites shareholders and investors to listen to its third quarter 2004 earnings conference call that will be broadcast over the Internet on Wednesday, October 27, 2004 at 11 a.m. ET, with executives of Garmin. The call will be held in conjunction with the company's earnings release, which will be distributed prior to market open on October 27.
What: Garmin Ltd. Third Quarter 2004 Earnings Call
When: Wednesday, October 27, 2004 at 11:00 a.m. ET
Where: http://www.garmin.com/aboutGarmin/invRe ... endar.html
How: Simply log on to the Web at the address above or call to listen in
at (800) 883-9537.
Contact: investor.relations@garmin.com
A phone recording will be available for 24 hours following the earnings call and can be accessed by dialing (800) 642-1687 and utilizing the access code 1046730. An archive of the live webcast will be available until November 26, 2004 on the Garmin website at http://www.garmin.com . To access the replay, click on the Investor Relations link and click over to the Events Calendar page.
Through its operating subsidiaries, Garmin Ltd. designs and manufactures navigation, communication and information electronics. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor recreation, automotive, wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit the Investor Relations site of Garmin Ltd. at http://www.garmin.com or contact the Investor Relations department at 913-397-8200.
SOURCE Garmin Ltd.
Polly Schwerdt, Investor Relations Manager, +1-913-440-1394,
e-mail, investor.relations@garmin.com , or Pete Brumbaugh, Senior Media
Relations Specialist, +1-913-440-1411, e-mail, pete.brumbaugh@garmin.com ,
both of Garmin
http://www.garmin.com
10/6/2004 9:01:00 AM
CAYMAN ISLANDS, Oct 6, 2004 /PRNewswire-FirstCall via COMTEX/ -- Garmin Ltd. (GRMN) invites shareholders and investors to listen to its third quarter 2004 earnings conference call that will be broadcast over the Internet on Wednesday, October 27, 2004 at 11 a.m. ET, with executives of Garmin. The call will be held in conjunction with the company's earnings release, which will be distributed prior to market open on October 27.
What: Garmin Ltd. Third Quarter 2004 Earnings Call
When: Wednesday, October 27, 2004 at 11:00 a.m. ET
Where: http://www.garmin.com/aboutGarmin/invRe ... endar.html
How: Simply log on to the Web at the address above or call to listen in
at (800) 883-9537.
Contact: investor.relations@garmin.com
A phone recording will be available for 24 hours following the earnings call and can be accessed by dialing (800) 642-1687 and utilizing the access code 1046730. An archive of the live webcast will be available until November 26, 2004 on the Garmin website at http://www.garmin.com . To access the replay, click on the Investor Relations link and click over to the Events Calendar page.
Through its operating subsidiaries, Garmin Ltd. designs and manufactures navigation, communication and information electronics. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor recreation, automotive, wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit the Investor Relations site of Garmin Ltd. at http://www.garmin.com or contact the Investor Relations department at 913-397-8200.
SOURCE Garmin Ltd.
Polly Schwerdt, Investor Relations Manager, +1-913-440-1394,
e-mail, investor.relations@garmin.com , or Pete Brumbaugh, Senior Media
Relations Specialist, +1-913-440-1411, e-mail, pete.brumbaugh@garmin.com ,
both of Garmin
http://www.garmin.com
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- Mensagens: 596
- Registado: 11/8/2004 10:39
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- Mensagens: 596
- Registado: 11/8/2004 10:39
Uma vencedora-Galeria das estrelas
Oi :
Gosto .De momento está numa B- tem de ficar mais actrativa. O movimento é correctivo.
Esperar...
Obrigado pela dica
Cumprimentos
Gosto .De momento está numa B- tem de ficar mais actrativa. O movimento é correctivo.
Esperar...
Obrigado pela dica
Cumprimentos
- Mensagens: 214
- Registado: 29/7/2004 20:58
- Localização: Lisboa
Locating a Winner: Garmin
Locating a Winner: Garmin
By Dave Mock
July 29, 2004
Everyone is looking for the next something -- the next Microsoft (Nasdaq:
MSFT), the next Qualcomm (Nasdaq: QCOM), the next Intel (Nasdaq: INTC). It's
every growth investor's dream to take stock in a company that not only
dominates a burgeoning industry but also navigates it with such incredible
efficiency that competitors look like a rerun of "The Three Stooges" by
comparison.
At this point, I'm wondering whether Garmin Ltd. (Nasdaq: GRMN) doesn't fit
the bill. The company has already racked up a powerful track record of 20+%
growth, yet it still remains mid-sized ($4 billion market cap) in a market
that has a long way to fully mature. A leading provider of consumer and
aviation global positioning systems (GPS), Garmin keeps giving this Fool
fewer reasons to question the possibility.
Garmin reported its second-quarter earnings yesterday, redeeming tepid
guidance earlier this year by clearly vaulting recent estimates. Revenue was
up 32% from a year ago to $189.7 million, and profits were a meaty $56.3
million. While the company's net income benefited from foreign currency by
$3.6 million, operational performance still beat the most optimistic of
analysts.
Thanks to excess cash generated, Garmin also announced a $0.50 dividend for
shareholders this year, repeating last year's dividend (well ahead of the
new trend with technology companies -- thanks for finally coming around,
Microsoft). This is on top of a 3 million share repurchase program.
The good news sent Garmin's shares up over 12% to close just shy of $38.
This is still a far cry from their 52-week high of more than $59 reached
back in January -- but that's the good news. Investors now have a chance to
pick up a quality company at a better price.
The management of Garmin is refreshingly forthcoming about all areas of the
business -- good and bad. In the first quarter, the company chose to
highlight and explain a disappointing drop in gross margins -- from 60% to
51%. While many companies would sweep this blip away into the dark corners
of a report, Garmin went as far as describing the drop as "meaningfully
lower."
While Garmin's chance at being the next something exists, it's certainly not
a sure bet. Competition across the entire GPS sector is increasing, which
will put further pressure on profit margins and operations. The company has
to execute well and stay three steps ahead of competitors such as Trimble
Navigation (Nasdaq: TRMB). Yet this Fool thinks there's a chance that
several years from now investors will be looking for the next Garmin.
Tom Gardner and his guest analysts have shown an uncanny ability to find
those next "somethings" in his Hidden Gems newsletter. Take a free trial to
find out who his money is on.
Fool contributor Dave Mock is putting a Garmin GPS on the top of his
Christmas list this year (hint hint, wink wink). He owns shares of Garmin
and Intel.
http://www.fool.com/News/mft/2004/mft04072907.htm?logvisit=y&source=estmarhln001999&npu=y
By Dave Mock
July 29, 2004
Everyone is looking for the next something -- the next Microsoft (Nasdaq:
MSFT), the next Qualcomm (Nasdaq: QCOM), the next Intel (Nasdaq: INTC). It's
every growth investor's dream to take stock in a company that not only
dominates a burgeoning industry but also navigates it with such incredible
efficiency that competitors look like a rerun of "The Three Stooges" by
comparison.
At this point, I'm wondering whether Garmin Ltd. (Nasdaq: GRMN) doesn't fit
the bill. The company has already racked up a powerful track record of 20+%
growth, yet it still remains mid-sized ($4 billion market cap) in a market
that has a long way to fully mature. A leading provider of consumer and
aviation global positioning systems (GPS), Garmin keeps giving this Fool
fewer reasons to question the possibility.
Garmin reported its second-quarter earnings yesterday, redeeming tepid
guidance earlier this year by clearly vaulting recent estimates. Revenue was
up 32% from a year ago to $189.7 million, and profits were a meaty $56.3
million. While the company's net income benefited from foreign currency by
$3.6 million, operational performance still beat the most optimistic of
analysts.
Thanks to excess cash generated, Garmin also announced a $0.50 dividend for
shareholders this year, repeating last year's dividend (well ahead of the
new trend with technology companies -- thanks for finally coming around,
Microsoft). This is on top of a 3 million share repurchase program.
The good news sent Garmin's shares up over 12% to close just shy of $38.
This is still a far cry from their 52-week high of more than $59 reached
back in January -- but that's the good news. Investors now have a chance to
pick up a quality company at a better price.
The management of Garmin is refreshingly forthcoming about all areas of the
business -- good and bad. In the first quarter, the company chose to
highlight and explain a disappointing drop in gross margins -- from 60% to
51%. While many companies would sweep this blip away into the dark corners
of a report, Garmin went as far as describing the drop as "meaningfully
lower."
While Garmin's chance at being the next something exists, it's certainly not
a sure bet. Competition across the entire GPS sector is increasing, which
will put further pressure on profit margins and operations. The company has
to execute well and stay three steps ahead of competitors such as Trimble
Navigation (Nasdaq: TRMB). Yet this Fool thinks there's a chance that
several years from now investors will be looking for the next Garmin.
Tom Gardner and his guest analysts have shown an uncanny ability to find
those next "somethings" in his Hidden Gems newsletter. Take a free trial to
find out who his money is on.
Fool contributor Dave Mock is putting a Garmin GPS on the top of his
Christmas list this year (hint hint, wink wink). He owns shares of Garmin
and Intel.
http://www.fool.com/News/mft/2004/mft04072907.htm?logvisit=y&source=estmarhln001999&npu=y
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- garmin.JPG (50.89 KiB) Visualizado 453 vezes
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- Mensagens: 596
- Registado: 11/8/2004 10:39
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