Electronics giant Garmin reports record revenue for 2019
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Electronics giant, Garmin, the supplier of the award-winning New Force Trolling Motor – reported record revenue of $3.758 billion for 2019.
For the fourth quarter, the group posted total revenue of $1.102 billion, of which its marine division contributed $115.779m – up 22% from the $94.652m of the previous comparable quarter.
Cliff Pemble, President and Chief Executive Officer, told investors: “2019 was another exciting year of growth thanks to our strong line-up of products and unique innovations.
“We entered 2020 with a great line-up of recently introduced new items with more on the way. We are excited about the future because each business segment offers unique growth opportunities for this year and beyond.”
He added that the growth in the marine division was driven by its innovative line-up of chartplotters, advanced sonars and the revolutionary new Force Trolling Motor, which won Best in Show and the electronics awards at last year’s ICAST in Orlando, Florida.
It was the second year running that the Swiss-based business has won the top prize at the world’s largest fishing tackle trade show.