Garmin CEO shares

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“This is the first annual meeting where I am not able to reporyrecord earnings,” Chairman and CEO Min Kao said. “ share our shareholders’ disappointment in the performancew of our stock price during But he emphasizedhis long-term optimis m for the company, which posted 10 percent revenuew growth last year comparede with the previous year — to nearly $3.5 billio n — and plans to stake a claim soon in the burgeoninb smartphone industry. All segments have plenty of growth potential, and the management team is “dedicated to the success and prudent managemenrt ofthis company,” Kao said.
Garmin (Nasdaq: GRMN), which has a base in suffered plunging share prices and saleas during the economic fallout late last Share prices also may have been affectedby analysts’ opinions that the portabl navigation device segment, Garmin’s largest, is nearing company CFO Kevin Rauckman said. Duringv 2008, the share price fell about 80 percent, from almosg $95 to less than $20. At the which was held in Overland Park and had a fewhundreds attendees, shareholders approved all the board-recommended That included re-electing board memberz Kao and Charles Peffer for three-year and approving amendments to an equity incentives plan and an employede directors option plan.
Peffer, a formed partner in , has been a directort since 2004. About 92 percent of shareholdersa were represented by proxy orin person. Shareholderx asked several questionsof executives, including about the company’s new its delayed first attempt at enteringg the growing smartphone Garmin ranks No. 7 on the Kansas City Business Journal ’a list of area public companies.