Worldwide provider of navigation, communications and information devices Garmin Ltd’s. (GRMN) unit, Garmin International Inc., recently entered into a partnership with Universal Partnerships & Licensing for The Biggest Loser fitness devices. Garmin will release The Biggest Loser vívofit daily activity tracker in Oct 2014.
The Biggest Loser is certified by Universal Partnerships & Licensing in alliance with Shine America, the producers of The Biggest Loser. Per the agreement, all the contestants in the show will wear the vivofit tracker to set fitness goals and trace their progress.
The Biggest Loser is one of the most popular television shows. By offering vívofit products to the show, Garmin will increase brand awareness, employing targeted publicity tactics that focus on the company's niche customer segment.
Vivofit is Garmin’s first slimline fitness tracker launched in Jan 2014. Vivofit had a strong start in the rapidly growing activity-tracking category. The tracker runs on replaceable battery that offers approximately a year of battery life and is water resistant upto 50m. It helps users to set personalized fitness goals and tracks their activity levels. It measures calories burnt and also monitors heart rate. It provides inactivity alerts as well.
Garmin’s second-quarter 2014 earnings of $1.02 per share beat the Zacks Consensus Estimate of 75 cents on the back of strong growth in new products that are increasingly diversifying its business. Its revenues of $777.8 million were up 33.4% sequentially and 11.7% year over year.
The Fitness segment increased 50.2% sequentially and 78.9% year over year, driven by the ramp up of new products across multiple fitness categories.
Garmin currently holds a Zacks Rank #3 (Hold).
Investors interested in the technology sector can also consider Rambus Inc. (RMBS), Inuvo, Inc. (INUV) and Facebook, Inc. (FB). While Rambus and Inuvo sport a Zacks Rank #1 (Strong Buy), Facebook carries a Zacks Rank #2 (Buy).
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