Garmin® to appeal ITC initial determination

Category:

Friday, May 26, 2017 10:30 am CDT

Dateline:

OLATHE, Kan.

Public Company Information:

NASDAQ:
GRMN
KYG372601099
"Additionally, the ruling does not impact in any way Garmin products with ClearVü sonar functionality, which have been on the market since 2016."

OLATHE, Kan.--(BUSINESS WIRE)--Garmin International Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), announced today that an Administrative Law Judge (ALJ) at the International Trade Commission (ITC) made an initial determination in the enforcement proceeding brought by Navico, Inc. against Garmin. The ALJ’s initial determination concluded that Garmin’s sale of certain DownVü sonar products violated the ITC’s December 2015 orders arising from a previous Navico-Garmin ITC investigation. The ALJ recommends a fine in the amount of $37 million.

Garmin disagrees with the initial determination and will seek review by the ITC, which is expected to issue a final determination in August 2017.

“Even if affirmed by the ITC, the ruling has no impact on Garmin’s customers or dealers,” said Andrew Etkind, Garmin’s vice president and general counsel. “Additionally, the ruling does not impact in any way Garmin products with ClearVü sonar functionality, which have been on the market since 2016.”

Garmin was recently named Manufacturer of the Year for the second year in a row by the NMEA, an honor given to the most recognized marine electronics company for support of products in the field. Garmin’s portfolio includes some of the industry’s most sophisticated chartplotters and touchscreen multifunction displays, sonar technology, high-definition radar, autopilots, high-resolution mapping, sailing instrumentation, and other products and services that are known for innovation, reliability, and ease-of-use.

For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary business units, including automotive, aviation, fitness, marine, and outdoor recreation. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garmin, or youtube.com/garmin.

About Garmin

Garmin International Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark and DownVü and ClearVü are trademarks of Garmin Ltd. or its subsidiaries.

All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:

This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 31, 2016, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Contact:

Garmin International, Inc.
Carly Hysell, 913-397-8200
media.relations@garmin.com

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