Garmin Ltd.s Fitness Segment posted sales of $78 million in the second quarter ended June 25, up 25 percent. That compared to an increase of just 1 percent at its Outdoor Segment, where sales reached $81 million. Sales at the GPS device makers Automotive/Mobile, Aviation and Marine segments rose 19, 13 and 6 percent respectively.




The outdoor segment posted revenue growth of 1% in the second quarter ahead of the launch of a refreshed product line-up in the third quarter including updates to the eTrex, Rino and Astro.


We expect these products to drive improved growth in the third quarter, said Garmin Chairman and Chief Executive Officer Dr. Min Kao. Also, we have now completed our acquisition of Tri-Tronics, a leading provider of electronic dog training equipment. This acquisition allows us to further our product offerings to dog owners and more quickly innovate for this growing market.”


The fitness segment posted revenue growth of 25% with strong results from Garmins high-end Forerunner 610 and Edge® 800.


Our products are doing well across the value spectrum and around the globe, said Kao. We believe this category remains underpenetrated, offering numerous opportunities for long-term growth. We remain focused on innovation, in both form factor and function that will allow us to maintain our position at the top of the GPS-enabled fitness market.















































































































































































































































































































































































































































































































































































































Garmin Ltd. And Subsidiaries
Revenue, Gross Profit, and Operating Income by Segment (Unaudited)
   
Reporting Segments
Auto/
Outdoor Fitness Marine Mobile Aviation Total
 
13-Weeks Ended June 25, 2011
 
Net sales $81,007 $78,014 $79,117 $362,706 $73,255 $674,099
Gross profit $52,948 $45,502 $44,208 $128,788 $50,654 $322,100
Operating income $35,667 $25,384 $23,357 $25,277 $21,906 $131,591
 
13-Weeks Ended June 26, 2010
 
Net sales $79,847 $62,469 $74,310 $447,225 $64,914 $728,765
Gross profit $53,257 $38,506 $49,108 $205,336 $45,445 $391,652
Operating income $38,035 $24,724 $32,146 $88,548 $18,590 $202,043
                                     
 
26-Weeks Ended June 25, 2011
 
Net sales $147,458 $134,382 $130,425 $627,255 $142,413 $1,181,933
Gross profit $94,301 $79,293 $77,406 $211,340 $98,134 $560,474
Operating income $60,474 $40,841 $38,490 $26,872 $39,667 $206,344
 
26-Weeks Ended June 26, 2010
 
Net sales $139,233 $105,819 $115,625 $668,149 $131,007 $1,159,833
Gross profit $91,768 $65,557 $73,338 $300,110 $91,788 $622,561
Operating income $62,404 $38,923 $41,075 $105,530 $37,459 $285,391