Garmin® growth continues to accelerate as the company celebrates 200 million products sold and opens its Olathe campus expansion

Wednesday, October 24, 2018 6:00 am CDT

Dateline:

SCHAFFHAUSEN, Switzerland

Public Company Information:

NASDAQ:
GRMN
KYG372601099
"All over the world, one product at a time, we help our customers beat yesterday with products that fuel their passions"

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)--Garmin Ltd. (NASDAQ:GRMN) today announced that it has sold more than 200 million of its GPS navigation and wearable technology products to customers around the world pursuing their passions throughout the automotive, aviation, fitness, marine, and outdoor markets Garmin serves. This milestone is concurrent with the opening of the first phase of the company’s facility expansion at its North American headquarters in Olathe, Kansas. Built to enable growth in many areas of its business, this 750,000-square-foot manufacturing and distribution center more than doubles the company’s aviation product manufacturing and distribution capacity. These exciting achievements reinforce Garmin’s continued commitment to its customers, associates, shareholders and community.

“All over the world, one product at a time, we help our customers beat yesterday with products that fuel their passions,” said Cliff Pemble, Garmin president and CEO. “Just six years ago, Garmin sold its 100 millionth product. Today, we’ve doubled that number and have significantly expanded our business to become a leader in all markets we serve, including wearable technology which has been a source of remarkable growth in recent years. As we celebrate these tremendous milestones, we thank our customers and associates who made these achievements possible, and look forward to many more milestones to come.”

Founded in 1989 by a small group of engineers passionate about creating GPS applications for active lifestyles, Garmin now employs more than 12,000 associates in over 30 countries. Now that the first phase of the Olathe campus expansion – the expanded manufacturing facility – is open and operating, the move of the company’s distribution center will begin early next year. Following the move of the distribution center, the second phase of renovating the existing Garmin warehouse and manufacturing space into a state-of-the-art research and development facility and supporting office space will begin. Once completed, the 96-acre Garmin Olathe campus will offer 2.25 million square-feet of space, with room for up to 2,600 additional associates. In addition to continually advancing its highly diversified automotive, aviation, fitness, marine and outdoor markets, Garmin continues to grow its global presence.

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 markets, 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, instagram.com/garmin, or youtube.com/garmin.

About Garmin International Inc.

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 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 30, 2017, 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.

Multimedia Files:

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Garmin has opened the doors to its new 750,000-square-foot manufacturing and distribution center that more than doubles the company's aviation product manufacturing and distribution capacity. (Photo: Business Wire)
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Garmin announced it's sold more than 200 million of its GPS navigation and wearable technology products to customers around the world pursuing their passions throughout the automotive, aviation, fitness, marine, and outdoor markets the company serves. (Photo: Business Wire)
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Contact:

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

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