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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Garmin Ltd    GRMN   CH0114405324


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Garmin : Turn your phone into a fishfinder with Garmin's new STRIKER Cast castable sonar 

10/27/2020 | 06:01am EST

Garmin brings sonar to a mobile device so anglers can find and catch more fish – with or without a boat

Garmin® International, Inc., a unit of Garmin Ltd. (NASDAQ:GRMN), the world’s leading marine electronics manufacturer1, today introduced STRIKER Cast— a castable fishfinder that delivers sonar wirelessly to a smartphone or tablet. No boat? No problem. STRIKER Cast is a versatile sonar device that anglers can take with them wherever they go. Just cast it out from where the fish are biting that day – the bank, a dock, or even from a kayak – to view fish and structure in crisp detail on the free STRIKER Cast app, compatible with both Apple® and Android devices. With STRIKER Cast, anglers can even create their own fishing maps2 for an even more detailed look at the area they’re fishing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201027005002/en/

Garmin brings sonar to a mobile device with STRIKER Cast, so anglers can find and catch more fish – with or without a boat. (Photo: Business Wire)

Garmin brings sonar to a mobile device with STRIKER Cast, so anglers can find and catch more fish – with or without a boat. (Photo: Business Wire)

“Now more than ever, consumers are finding ways to spend more time outside enjoying the great outdoors, and for so many, that includes fishing,” said Dan Bartel, Garmin vice president of global consumer sales. “Whether you’re new to the sport or a seasoned angler fishing from shorelines, docks or piers, STRIKER Cast will help you identify structure and fish, right from the palm of your hand.”

Designed for use in freshwater and saltwater (and even for ice fishing), STRIKER Cast delivers excellent sonar performance in both shallow water and deep water – from less than 2 ft. to 150 ft. – and will wirelessly stream sonar and water temperature data from up to 200 feet away. It delivers easy-to-understand traditional 2-D sonar and ice fishing flasher modes, with setting adjustments for gain, range and more. Anglers can even turn on fish icons to view more realistic images of the fish targets and their depth readings directly in the app, so it’s easy to know exactly where to drop the line.

Available with built-in GPS, anglers can instantly create their own maps with 1-foot contours – and remember that great spot they found – by using Quickdraw Contours software, a free, easy-to-use tool that lets users instantly create personalized HD maps on any body of water. The data collected can be stored within the STRIKER Cast app, and anglers can upload, download or browse collected Quickdraw Contours data from other users from Garmin’s Quickdraw Community.

Easy to cast and built to last, STRIKER Cast is durable and lightweight, and should be used with a 20 lb. test weight or higher fishing line. The power-savvy STRIKER Cast automatically powers on when it’s floating in water and turns off when it’s not. Rugged by design, it boasts an internal, USB-rechargeable battery that can go for more than 10 hours between charges3, and it’s water-resistant to IPX6 and IPX7 standards4.

STRIKER Cast is available now in two versions: STRIKER Cast GPS with a suggested retail price of $179.99 and STRIKER Cast without GPS, which has a suggested retail price of $129.99. To learn more, visit garmin.com/marine.

Engineered on the inside for life on the outside, Garmin products have revolutionized life for anglers, sailors, mariners and boat enthusiasts everywhere. Committed to developing the most sophisticated marine electronics the industry has ever known, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For the sixth consecutive year, Garmin was recently named the Manufacturer of the Year by the National Marine Electronics Association (NMEA). Other Garmin marine brands include Fusion® and Navionics®. 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/garminnews, instagram.com/garmin or youtube.com/garmin.

1 Based on 2019 reported sales

2 GPS-version only

3 Battery life may vary depending on usage

4 See Garmin.com/waterrating

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, Navionics and Fusion are registered trademarks and STRIKER and Quickdraw 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 28, 2019, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at https://www.garmin.com/en-US/company/investors/earnings/. 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.

Category: Marine

© Business Wire 2020
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Financials (USD)
Sales 2020 4 017 M - -
Net income 2020 919 M - -
Net cash 2020 1 897 M - -
P/E ratio 2020 24,2x
Yield 2020 2,05%
Capitalization 22 254 M 22 254 M -
EV / Sales 2020 5,07x
EV / Sales 2021 4,62x
Nbr of Employees 15 000
Free-Float 71,0%
Duration : Period :
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Technical analysis trends GARMIN LTD
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 110,63 $
Last Close Price 116,37 $
Spread / Highest target 7,42%
Spread / Average Target -4,94%
Spread / Lowest Target -26,1%
EPS Revisions
Clifton Albert Pemble President, Chief Executive Officer & Director
Min Hwan Kao Executive Chairman
Douglas Gerard Boessen Treasurer, Chief Financial & Accounting Officer
Charles W. Peffer Independent Director
Joseph J. Hartnett Independent Director
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