For the first quarter ended April 1, 2017, Garmin Ltd. (Nasdaq: GRMN) aviation segment posted revenue growth of 16%, primarily driven by growth in aftermarket products, the company said.
Gross and operating margins were strong at 74% and 31%, respectively, resulting in 27% operating income growth.
During the quarter, the company began shipping the G1000 NXi, the next generation integrated flight deck, expanded the market for its ADS-B products with the European Aviation Safety Agency certification of the GTX 345, and continued to expand its portfolio of safety enhancing products with the G5 solution for electronic flight instruments.
Garmin Ltd., together with its subsidiaries, designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: auto, aviation, marine, outdoor, and fitness.
The aviation segment provides navigation, communication, flight control, hazard avoidance, weather radar, radar altimeter, datalink weather, in-cockpit and cloud connectivity, automated logbook, voice and touch control, and other products and services; wearables, portables, and apps; traffic collision avoidance, and terrain awareness and warning systems. It also offers controller-pilot data link, a suite of automatic dependent surveillance broadcast solutions.