ICAST double winner announces record second quarter
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The ICAST Best in Show winner for the last two years has reported record figures for the second quarter of 2019.
Global electronics giants Garmin announced a best ever revenue of $955m, a 7% increase, compared to the same period last year. The business was the toast of the world’s largest fishing tackle trade show last month in Orlando when it won the top accolade for its Force trolling motor.
Revenue from its marine segment grew 12% during the period, driven by strength in the demand for its chart plotters and the ICAST 2018 Best in Show winner, the Panoptix LiveScope sonars.
Cliff Pemble, President and Chief Executive Officer of the Kansas-based business, said: “We achieved record second quarter revenue and profits with three of our five segments delivering strong double-digit growth rates. We are very pleased with the results we have delivered thus far, giving us the confidence to raise our full year 2019 revenue and ESP guidance.”