Garmin® Ltd. Selected to Join S&P 500
Schaffhausen, Switzerland/December 6, 2012/Business Wire — Garmin Ltd. (NASDAQ: GRMN), the global
leader
in satellite navigation, today announced that it will become a component in the S&P 500 index
after
the close of trading on Tuesday, December 11.
“The S&P 500 index is widely recognized
as a
bellwether of the American equities market and we are honored to be listed among some of the most
recognizable
and enduring brands in the world,” said Dr. Min Kao, chairman and CEO of Garmin Ltd. “This
is tremendous
recognition for our company and our commitment to long-term, sustainable growth. We’d like
to thank our
associates for helping us achieve this significant milestone.”
The S&P 500 is
an index of
500 large-cap companies from leading industries that is widely used as a benchmark for investors
and
a gauge of the overall performance of the U.S. stock market. The company will be added to the S&P
500
GICS (Global Industry Classification Standard) Consumer Electronics Sub- Industry index.
Since
its
inception in 1989, Garmin has delivered more than 100 million products, most of them enabled with
GPS
– far more than any other navigation provider. Garmin provides a wide range of products and
applications
in the navigation industry. It has a leadership position in each of the markets it serves,
including
automotive, aviation, marine, fitness, and outdoor recreation.
For more information,
visit www.garmin.com, www.garmin.blogs.com,
and http://twitter.com/garmin.
About
Garmin
Ltd.
The global leader in satellite navigation, Garmin Ltd. and its subsidiaries
have
designed, manufactured, marketed and sold navigation, communication and information devices and
applications
since 1989 – most of which are enabled by GPS technology. Garmin’s products serve
automotive, mobile,
wireless, outdoor recreation, marine, aviation, and OEM applications. Garmin Ltd.
is incorporated in
Switzerland, and its principal subsidiaries are located in the United States, Taiwan
and the United Kingdom.
For more information, visit Garmin’s virtual pressroom at http://www8.garmin.com/company/newsroom/
or contact the Media Relations department
at 913-397-8200. Garmin is a registered trademark of Garmin
Ltd. or its subsidiaries.
S&P
is a registered trademark of Standard & Poor’s Financial
Services LLC.
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 31,
2011, filed by Garmin with the Securities
and Exchange Commission (Commission file number 0-31983). A
copy of such Form 10-K is available at www.garmin.com/aboutGarmin/invRelations/finReports.html.
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.
