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    GRMN   CH0114405324

GARMIN LTD.

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Garmin : adds new Adventure Racing smartwatch activity profile, designed for the ultimate race of human endurance

09/14/2021 | 07:22am EDT

OLATHE, Kan./September 14, 2021 - Garmin® International, Inc., today announced the Adventure Racing sport profile, a new activity profile that allows participants to track vital information and utilize their Enduro ultraperformance multisport watch, while adhering to the rules and regulations of Adventure Racing competitions, making it the first GPS-enabled watch that is Adventure Race authorized. The new Adventure Racing sports activity is now available through a free software update. Athletes will receive the software update by pairing and syncing their watch to Garmin Connect Mobile.

'Endurance athletes will now be permitted to wear a Garmin multisport watch while competing in Adventure Races, without losing any data,' said Dan Bartel, vice president of global consumer sales. 'With the new software update, Adventure Racing competitors can continue to monitor biometric data, set timers and utilize other built-in features like an atimiter and compass while adhering to the guidelines of the sport.'

'Adventure Racers have been training with Garmin products for years, and now with the introduction of the new Adventure Racing sports activity, they can actually compete without taking off their watch,' said Heidi Muller, international events and brand director of Adventure Racing World Series. 'We are thrilled to team with Garmin to create an activity profile built for all aspects of training and competition, on a watch that can withstand the grueling elements and duration of an Adventure Race.'

An Adventure Race is a multisport orienteering competition through some of the most rigorous environments on earth. Each team, typically comprised of four members, competes in multiple disciplines including kayaking, mountain biking and trekking over hundreds of miles. There are no marked routes, but teams must navigate to specified check points along the way using only a map they receive hours prior to the start of the race.

Garmin Enduro is designed specifically for adventure racers and those who train to compete in endurance events. Enduro features advanced training features and key performance monitoring tools for peak performance. Athletes can quickly adjust settings to enable only the necessary features to get the longest battery life on a Garmin wearable to date. A full charge will provide an athlete up to 70 hours in GPS mode which is extended up to 80 hours with solar capabilities.

When using the Adventure Racing activity, location information is recorded but unavailable for racers to view during the event. Because Adventure Racing and orienteering competitions do not allow GPS navigation, users are not able to view GPS based data fields, but they can still record the track log. With Garmin Enduro on the wrist, compeitors can monitor and record biometric data like heart rate and will be able to use other functions of the watch like altimeter, compass, alarms and timers. A verification page shows when the activity began and ended, allowing competitors to prove to an official that GPS navigation was disabled during the race.

Engineered on the inside for life on the outside, Garmin products have revolutionized life for adventurers, athletes, and outdoor enthusiasts everywhere. Committed to developing products that enhance experiences and enrich lives, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, email [email protected], or follow us at facebook.com/garmin, twitter.com/garminnews, instagram.com/garminoutdoor, youtube.com/garmin or linkedin.com/company/garmin.

Disclaimer

Garmin Ltd. published this content on 14 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2021 11:21:01 UTC.


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Financials (USD)
Sales 2021 4 950 M - -
Net income 2021 1 074 M - -
Net cash 2021 2 295 M - -
P/E ratio 2021 29,5x
Yield 2021 1,58%
Capitalization 31 983 M 31 983 M -
EV / Sales 2021 6,00x
EV / Sales 2022 5,47x
Nbr of Employees 16 000
Free-Float 76,9%
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Last Close Price 166,30 $
Average target price 161,51 $
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Clifton Albert Pemble President, Chief Executive Officer & Director
Douglas Gerard Boessen Treasurer, Chief Financial & Accounting Officer
Min Hwan Kao Executive Chairman
Charles W. Peffer Independent Director
Joseph J. Hartnett Independent Director
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