1. Garmin - GRMN Hold Created By: Val Perfanov & Rob Stern

2. About Garmin “ G armin, Ltd. engages in the design, manufacture, and marketing of navigation, communications, and information devices that are enabled by global positioning system (GPS) technology worldwide” It operates in four segments: –Automotive/Mobile –Outdoor/Fitness –Marine –Aviation.

3. Competitors Private companies: –Magellan Navigation, Inc. –Tom Tom N.V.

4. Goals Expand in sectors: –Aviation –Marine –International Re-enter cell phone industry Acquire Tele-Atlas

5. Results 3rd Quarter revenue increased 79% YTD: Revenue increased 69% Automotive/Mobile = 71% of total revenues

6. Results

7. Results

8. Putting Numbers Into Perspective

9. Analysis Abbreviated Income Statement

10. Analysis

11. Analysis

12. Analysis

13. Headlines Nokia acquires Navtech Garmin outbid for Tele Atlas by Tom Tom Microsoft acquiring Garmin? Nokia acquires Navtech Garmin outbid for Tele Atlas by Tom Tom Microsoft acquiring Garmin?

14. Open Forum Questions?