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Garmin is a company that deals with production of information devices, communication systems and production of applications based on the technology of global positioning systems. It manufactures navigation products that deliver data on geographic location via satellite communications wirelessly through global positioning systems. Products that are portable have electronic maps incorporated in them as well as navigation charts that locate geographic presence. For better usage, the company also manufactures devices for communication that that utilize a combination of GPS technology and cellular technology. In its very recent developments, the company launched zumo 665 in Las Vegas at 2010 international CES.

To come up with global positioning system (GPS), 24 satellites are placed into the orbit forming a network by the department of defense in the U.S. it is a navigation system which is now used by civilian other than the intended use in the past for use by military. It is a system that can be used 24 hours of the day in any whether condition and any where. (Garmin (GRMN), 2010).

Garmin has the perspective of touching people through this technology and guides its customers so as they are loyal and proud of the technology. Its employees and dealers therefore devote themselves in servicing, selling and dealing with the electronics that they present to customers. The company's success is contributed by the quality of material and end products that they deal with as well as its mission to enhance people's lives through manufacturing of useful product by use of the complicated technology. This way, the customer's daily lives are made convenient and get improved.

Garmin Corporation was formed in 1990 in Taiwan and in 1991; it made its first GPS product which was GPS 100 AVD. It moved to its new headquarter building in 1996 and in 1997, it introduced its first automobile product which was GPS III. It introduced street pilot which is an automobile in 1998 and went public in 2000 when it formed Garmin ltd. It unveiled palm OS-based 3600 in 2003. Its aviation products were responsible for revenues of 20%. (Mike, A., 2003).

The company has continued with its innovations where in its avionic system it has integrated several flight instruments all of which are from diamond aircraft co. (piston- engine aircraft) and Cessna aircraft. Its UPS aviation technologies, Inc. were acquired from united parcel service, Inc at $38 million in 2003.

The company has grown in its products where it has 50 different items that are marketed in almost 100 countries in the world by 2,500 partners, dealers, and distributors. In 1995, its sales reached $102 million where a net income of $23 million was attained. In 1999, its sales rose to $232.6 million. This time, the company's size was 240,000square feet. This time it had a sales plant in England and in Taiwan, it had a manufacturing operation. When it went public in 2000, the price of share that was offered at $14 went to $20 during its trading first day. This offer was responsible for the raise of $147 million in sales. Revenue rose to $345.7 million. The company's net margin during this time went to above 30%. Its net income in 2000 was $26.8 million when its revenues went up to $100.9 million despite the down turn of the aviation market together with the economy in general caused by terrorist attack in 2002 in United States. In the whole of the year 2002, the revenue rose to 26% giving $465.1 million when the net income went up to $142.8 million from $38 million. $350.6 million was brought by revenue from consumers and $114.5 million came from revenue from aviation. (Garmin (GRMN), 2010).

The company's product line targeted many users which ranged from commercial pilots to fishermen where the units were priced between $100 and $10,000. Three quarter of the sales was what responsibility of consumer products was.

Between the year 2004 and 2005, the balance sheet shows that the company did better in 2004 than in 2005 where the company in 2004 had a total inventory of $199,841 while in 2005 it had a total inventory of $154,980. This thus means that in the year 2004 the company had more assets than in 2005 and that the company performed poorer in 2005 than in 2004. The company's condition in 2004 was very nice as compared to its condition in 2005. The net worth of the company in these two different years was very different with the company having higher net assets in 2004 than in 2005. the total stock holders equity in 2004 was $1,157,264 which was much higher than in 2005 when the number was $935,857.

The liquidity ratios for the company in the past years were very different with some of the years the company performing better than in other years. For example the liquidity ratio in 2004 was higher than 2005 which means that the company in 2004 had better assets that could be sold and be bought without the price of the assets being affected. It thus mean that in that year the company was trading very well and can then quickly make cash out of the assets. Other ratios such as the DuPont ratio, Profit margin ratio and financial leverage were also different in different years and all showed how the company was performing.

The revenues for Garmin Company continued to rise year after year after it went public and with introduction of very many varying products which incorporated the use of GPS. These products brought a lot of success to the company as the net profit continued to raise the same as the sales of their innovated products. In 2007, its revenue rose from 1.7 B to 3.2B. This was a very nice trend that indicated that the company was doing better than the previous years and proper business strategy was being followed so as to come up with such nice sales. The net income also in the same years rose from 50.5 to 0.8 B which indicated the profitability of the company. Infarct, when the two years are compared, the company really was very profitable in 2007 than in thee year 2006. (Garmin, 2006).

However, the revenues seemed to fall over the years for Garmin company where by in the year 2009, the revenues fell from 3.5 B to 2.9 B  this was together with the increase in the cost of SGA  which is believed to have led to the bottom line decrease of $704.0M from$732.8M. This thus meant that the net income was also going to be affected by this and in the same3 years the net income went down from $732.8 in 2008 to $704.0 in 2009.

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