Garmin’s award-winning marine electronics division saw its sales grow by 25% to help the US multi-national technology company report a 7% increase in total revenue in its third quarter.
The group reported total revenue of $1.19 billion compared to the same period last year. The company was recently named as the Manufacturer of the Year by the National Marine Manufacturers Association (NMMA) for a seventh consecutive time.
Cliff Pemble, President and CEO, told investors: “I am very pleased with our performance in the quarter as we are now comparing against the robust pandemic-driven growth from the prior year. Strong demand for active lifestyle products continued, and our marine and aviation segments recorded impressive double-digit growth resulting in record consolidated revenue in the third quarter. We are very pleased with the results we have delivered thus far, giving us the confidence to raise our full-year 2021 revenue and EPS guidance.”